Clariant maintains business relationships with related parties. One group consists of the associates and joint ventures, of which the most important ones are described in note 8. The most important business with these companies is the purchase of services by Clariant (e.g. energy and rental of land and buildings) in Germany and the rendering of services to the Global Amines group.

The second group of related parties is key management comprising the Board of Directors and the Executive Committee. The information required by the ordinance against excessive compensation in stock exchange-listed companies regarding the emoluments for the members of the Board of Directors and the Executive Committee is disclosed in the Compensation Report.

More information on the relationship with the Board of Directors is given in the Corporate Governance report (non-audited).

The third group of related parties are the pension plans of major subsidiaries. Clariant provides services to its pension plans in Switzerland, the United Kingdom, and the United States. These services comprise mainly administrative and trustee services. The total costs in 2020 of these services is CHF 1 million (2019: CHF 1 million), of which approximately half is charged back to the pension plans. The number of full-time employees corresponding to these is approximately four (2019: approximately four).

The fourth group of related parties are all companies pertaining to the SABIC group, who is a 31.5% shareholder of Clariant (see note 17). The most important business done with these companies is the sale and purchase of chemical products.

There are no outstanding loans by the Group to any members of the Board of Directors or Executive Committee.