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Upon the consummation of the spin-off, Alcon will report under the SEC Act of 1934 as a non-US company with a foreign private issuer, or FPI status. As long as we qualify as a foreign issuer, Alcon will be exempt from certain provisions of the Exchange Act applicable to US public companies, including: regulations governing the solicitation of proxies, consents or authorizations in respect to registered securities; requirements for insiders to report changes in their stock ownership and liability for insiders who profit from trades made in a short period of time; and requirements for filing quarterly reports on Form 10-Q containing unaudited financial statements and other specified information, or current reports on Form 8-K, upon the occurrence of specific significant events.