MEDIA DOCUMENTATION SUMMER 2017

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1 MEDIA DOCUMENTATION SUMMER 2017 In summer 2017 a very special alliance was formed: Corvatsch AG and the Diavolezza and Lagalb cable car companies became partners and are marketed as one. Together they form a fairy-tale mountain scenery in the Upper Engadin. 1. Three mountains fairy-tale mountain scenery What a combination! Corvatsch, the large raven. Smart, breathtaking and free as a bird. Diavolezza, the she-devil. Passionate, icy hot and devilishly beautiful, like flames in the snow. And Lagalb, the white lake. Unspoilt, magnificent, perfect for adventures on water and ice. In June 2017 they have all merged to form a fairy-tale mountain scenery in the Upper Engadin. Corvatsch, Diavolezza and Lagalb became partner companies. The new joint logo reflects this combination: the individual triangular logos, each containing the symbol of a fabulous creature, are combined with the Swiss cross to create an image of a magnificent, fairy-tale mountain scenery. 2. Cable cars running 365 days a year The three cable cars are all in the Upper Engadin, located around the famous Bernina massif with the 4049 m high Piz Bernina at its heart the only 4000 m peak in the Eastern Alps. On the western side of the Piz Bernina towers the mighty Corvatsch, while the gentler Diavolezza and Lagalb, the sports fans' favourite, are to the east. The villages of Sils, Silvaplana, St. Moritz and Pontresina are part of this fairy-tale mountain scenery, along with the Bernina Pass. Whether it's winter or summer, whether you are in search of action, fine food or relaxation at the three mountains of Corvatsch, Diavolezza and Lagalb, everyone will find what they are looking for. The cable cars run for 365 days a year, for seven months in the winter for skiers and then for five months in the summer offering breathtaking views of the Piz Bernina from different perspectives. Climbers and hikers can stay overnight at the Berghaus Diavolezza all year round, in dormitories or in comfortable 2- and 4-bed rooms. A chance to sleep at 3000 metres above sea level, high above the Morteratsch and Pers glaciers.

2 Winter In winter skiers and snowboarders will find about 160 km of fantastic pistes, 19 lifts and 14 mountain restaurants. Unique offers like the Corvatsch Snow Night or the Glüna Plaina on Diavolezza make for memorable experiences at night, too! Downhill skiers, ski tourers and freeriders have numerous opportunities to discover their dream run and reach the peak of happiness. Freestylers, too, will find whatever their hearts desire. More than 15 jumps and 30 rails and boxes make the Corvatsch Snow Park one of the biggest and most popular in the Alps. Foodies will also find everything they could hope for: a wide range of restaurants, wide views of the mountains. The Panorama Restaurant 3303 on Corvatsch is the highest anywhere in Graubünden. The Bellavista panoramic restaurant on Diavolezza boasts views of the Ballroom of the Alps. And from the summit restaurant at Lagalb, you can see glaciers, lakes and the nearby Valtellina valley, all at the same time. Secret tips for gourmets and those in search of peace and quiet include La Chüdera, Ustaria Rabgiusa and the Kuhstall above Sils. If you re looking for parties and après-ski, the Hossa Bar on Corvatsch is the place to go. Summer In summer, too, the region has a fantastic amount to offer. On Corvatsch, hiking fans old and young can explore a network of over 80 km of footpaths, including the Fairytale Trail, while Diavolezza is the starting point for highaltitude walkers and climbers: adrenaline rushes and high excitement are guaranteed on the secured ladders and rope bridges of the two Via Ferrata routes. One summit to aim for is Piz Palü the most beautiful snow- and icecovered mountain in the world. Both mountains are popular destinations for excursions, offering stunning views and that special glacier feeling. On Corvatsch, the Glacier Walk leads visitors into the perpetual ice of the Bernina massif; on Diavolezza they can enter the Bernina Glaciers world of adventure, with audio tour, viewing platform and Snow Climb Point. And this is also just the place for anyone wanting to take it easy. On the Via Gastronomica or in the jacuzzi at 3000 m above sea level, your everyday routine seems a world away. Four cable cars and six mountain restaurants operate during the summer. The Lagalb cable car is closed in the summer.

3 3. How the new mountain alliance came about In June 2016, the two companies Engadin St. Moritz Mountains AG and Piz Nair AG announced a cable car swap in the Upper Engadin: the Diavolezza and Lagalb cable cars on the Bernina Pass and the mountain railways on Piz Nair above St. Moritz were going to exchange owners with effect from June This transaction would result in a new arrangement for the Upper Engadin, with the mountain transportation companies each clearly positioned. Engadin St. Moritz Mountains AG acquired the lifts on Piz Nair, which enabled it to expand its main area of Corviglia because Piz Nair is located in the middle of the Corviglia region. In return, Piz Nair AG bought the two cable cars on the Bernina Pass from Engadin St. Moritz Mountains AG. Piz Nair AG was renamed Diavolezza Lagalb AG and moved its company headquarters from St. Moritz to Pontresina. This made the new Diavolezza Lagalb AG a partner company of Corvatsch AG, because both companies are majority-owned by the wealthy Niarchos family. It marked not only the birth of a fairy-tale mountain scenery but also the rescue of the loss-making Lagalb cable car. Corvatsch AG and Diavolezza Lagalb AG will operate as independent companies, with their own accounts and management boards. However, potential synergies in all areas of business will be exploited and a strong common culture established. For example, the administration and marketing departments will provide services for both companies. 4. Organisation Board of Directors and Executive Board of Corvatsch AG Corvatsch AG is a public limited company with its headquarters in Silvaplana. The Board of Directors consists of seven members who are elected annually: President: Alois Jurt, Monte Carlo Vice-President: Emilio Bianchi, Lugano Members: Christoph Klemm, Monte Carlo; Philipp Perren, Birmensdorf; Franco Tramèr, Samedan Local community delegates: Christan Meuli, Sils i.e.; Dumeng Clavuot, Samedan Chairman of the Executive Board is: Markus Moser, Sils i.e. Board of Directors and Executive Board of Diavolezza Lagalb AG Diavolezza Lagalb AG is a public limited company with its headquarters in Pontresina. Diavolezza Lagalb AG was created from the AG Luftseilbahn Corviglia Piz Nair with its headquarters in St. Moritz. In June 2017 the company was renamed and its headquarters moved to Pontresina. The Board of Directors consists of six members who are elected annually: President: Franco Tramèr, Samedan Members: Alois Jurt, Monte Carlo; Christoph Klemm, Monte Carlo; Roland Hinzer, Pontresina; Suzanne Reber-Hürlimann, Samedan; Thomas Walther, Pontresina Chairman of the Executive Board is: Markus Moser, Sils i.e. So that strategic decisions affecting both companies can be made by mutual agreement, the Boards of Directors of Corvatsch AG and Diavolezza Lagalb AG will each form a Director Committee which will sit together. Staff The various departments all work closely together. For example, the Administration and Marketing departments a total of about 15 people will deliver services to both companies. In the two core areas of business (cable cars/lifts and restaurants), about 115 people work on the cable cars and lifts on Corvatsch in winter and about 65 in the restaurants. In summer, the workforce is reduced by about 55%. At Diavolezza and Lagalb, about 34 people work on the cable cars and lifts in winter, and 24 in summer. 35 people work in the restaurants in winter and 28 in summer. Turnover Together, Corvatsch AG and Diavolezza Lagalb AG transport about half a million visitors a year. The turnover of the two partner companies is between 24 and 25 million Swiss francs. A good two-thirds of this is earned at Corvatsch, and just under one third by Diavolezza and Lagalb together.

4 5. History The three mountains of Corvatsch, Diavolezza and Lagalb have an exciting history of mountain transportation that dates back over 60 years. The main milestones are listed in the two chronicles below. They end with the merger of the three mountains to create a fairy-tale mountain scenery in the Upper Engadin. Chronicle of Corvatsch 1963 The Surlej-Murtèl cable car (1st section) opens on 23 March The Murtèl-Corvatsch cable car (2nd section) opens on 8 December The Panorama Restaurant on the Corvatsch summit opens for business The first piste machine is acquired The cable cars carry over a million people for the first time The Sils-Furtschellas cable car goes into service The Curtinella ski lift (linking Corvatsch-Furtschellas) opens Renovation of the 1st section, Surlej-Murtèl Renovation of the 2nd section, Murtèl-Corvatsch Start of artificial snow-making Opening of a new restaurant at Murtèl middle station Summer skiing on the Corvatsch glacier, a key attraction since it first began in 1963, has to stop because the glacier is retreating The 4-seater chairlift on Alp Surlej opens The new cable car, 1st section, goes into service. This cable car still brings most visitors into the area today The first Corvatsch Snow Night is held on 14 December The Corvatsch and Furtschellas cable car companies merge to form Corvatsch AG The new cable car, 2nd section, goes into service The Corvatsch Snow Park is first built The new Mandra 4-seater chair lift opens The new Curtinella 6-seater chair lift opens Corvatsch AG and Diavolezza Lagalb AG become partner companies and are managed and marketed as one.

5 Chronicle of Diavolezza and Lagalb 1956 The Bernina-Diavolezza cable car opens with a 50-person cabin Already, the cable car is upgraded to a larger 62-person cabin The Diavolezza ski lift on the Firnfeld goes into service. Skiing in summer is possible for the first time. 1962/63 Purchase and conversion of the Diavolezza mountain inn, which at that time was in a different location The Curtinatsch-Lagalb cable car opens, thanks to sponsors from Pontresina and the Puschlav On Diavolezza-Firn, the acquisition of the first piste machine simplifies piste preparation The Diavolezza cable car company and the mountain inn merge to form Diavolezza Bahn AG From 1968 a total of four ski lifts and one chairlift are operated on Lagalb. Gradually the lifts have been closed down again and dismantled Winter skiing on the Diavolezza begins A second ski lift for summer skiing is built on Diavolezza-Firn In 1970 a new summer attraction opens on Lagalb, the Alpinarium : a small zoo where chamois, ibex and marmots are kept in a building. The project came to an end in The Lagalb cable car has a change of owner. Local businessmen take over the management On Diavolezza, a new cable car with a 125-person cabin goes into service The old top station at Diavolezza makes way for expansion of the mountain inn. Dormitory accommodation is created To keep the region snow-sure, snow-making equipment is installed on the finishing slope on Diavolezza The new owners of Lagalb sell the majority of the shares in Lagalb to Diavolezza Bahn AG A new chair lift is built on Diavolezza-Firn The Lagalb cable car operation is fully integrated into Diavolezza Bahn AG The new Lagalb cable car opens. This cable car is still in service today The two ski lifts on Diavolezza Firn are dismantled. The 9-year-old chair lift is converted to detachable seats The two skiing areas of Diavolezza and Lagalb are connected by a linking piste and a drag lift St. Moritzer Bergbahnen, Suvretta Piz Nair AG, Celeriner Bergbahnen AG and Diavolezza Bahn AG merge to form what is currently Engadin St. Moritz Mountains AG The Diavolezza cable car is extensively modernised Engadin St. Moritz Mountains AG sells its lifts on Diavolezza and Lagalb to Piz Nair AG, which is then renamed as the new Diavolezza Lagalb AG. The partnership with Corvatsch AG begins. 6. Contact Corvatsch AG Via dal Corvatsch 73 CH-7513 Silvaplana T media@corvatsch.ch Diavolezza Lagalb AG Talstation Diavolezza CH-7504 Pontresina T media@corvatsch.ch