2018 Guide to Effective Proxies

6 TH EDITION | GUIDE TO EFFECTIVE PROXIES 32 BIOGEN INC. CALIFORNIA RESOURCES CORPORATION CENTERPOINT ENERGY, INC. CHUBB LIMITED Letter from our Chairman April27,2018 ToMyFellowStockholders: On behalf of the Board of Directors, I want to thank you for your investment in Biogen and for the confidence you putinthisBoardtooverseeyourinterestsinthisbusiness. Biogen’smissionisclear:Wearepioneersinneuroscience.Webelievethatnootherdiseaseareaholdsasmuch needorasmuchpromiseformedicalbreakthroughswithapproximatelyonebillionpeopleaffectedbyneurological disordersworldwide. Our philosophy of Caring Deeply. Working Fearlessly. Changing Lives. ™ informs our policies and business practi- ces. We work to have an impact beyond our medicines as we strive to improve patient health outcomes, solve social and environmental challenges, cultivate a workplace that enables our employees to thrive, support local communitiesandinspirefuturegenerationsofscientists. The Board takes its role in overseeing Biogen’s long-term business strategy very seriously. In 2017 the Board stewarded a successful leadership succession plan with the transition to our new CEO, Michel Vounatsos, who has begun implementing our newly focused strategy as we continue to work toward our goal of broadening our leadershiproleinneuroscience. Weareproudofouraccomplishmentsin2017,including: • Generating record revenues of $12.3 billion for the year, performing well across our multiple sclerosis portfolio and delivering one of the most impressive launches in the history of the biotech industry with SPINRAZA, the firstandonlyapprovedtreatmentforspinalmuscularatrophy. • Continuingapaceintheaccrualofpatientsinallclinicalprograms,includingourpivotaltrialsofaducanumabin Alzheimer’sdisease. • Theadditionofsevennewclinical-stageprogramsacrossourcoreandemerginggrowthareas. • Our perfect score of 100% on the Human Rights Campaign’s Corporate Equality Index (a national benchmark- ingtooloncorporatepoliciesandpracticespertinenttoLGBTQemployees)forthefourthconsecutiveyear. • Ourcontinuedcommitmenttooperationalcarbonneutralityhighlightedbytheuseof100%renewableelectricity globally. • The dedication and commitment of the over 2,600 employees who volunteeredfrom 26 countries in our annual CareDeeplyDay. • The engagement of 44,000+ students in hands-on learning to inspire their passion for science since the inceptionofBiogen’sCommunityLabs. OnbehalfoftheBoard,Iampleasedtoinviteyoutoattendour2018annualmeetingofstockholders,whichwillbe held at our offices located at 225 Binney Street, Cambridge, Massachusetts 02142 on Tuesday, June 12, 2018, beginning at 9:00 a.m. Eastern Time. For those who cannot attend in person, we are offering a virtual stockholder Total of 02 pages in section Letter to Shareholders from the Chairman of the Board Dear Shareholders, CRC is committed to continuing our track recordofexceptional execution in2018.Guidedby our focus on value creation, livingwithin cash flowand delivering smart growth, our team’s performance during the recent severe commodity price downturn demonstrated the strengthofour assetsand the resiliency of ourbusiness model.Ourmanagement teammade a series of proactive, strategicmoves toeffectivelynavigate the bottom of the cycle,and nowCRChas a stronger foundation inplace to capture significant valueas theCompany invests in its deep inventory of projects.Ourmanagement team’s focus on optimizing investment inour vast, world-class resources, drivingoperationalexecution ina return-focusedway and strengtheningour financial position is expected to driveCRC’sperformance in 2018andbeyond. A key aspect ofCRC’s success isour strong corporate cultureboundbyhigh ethical standards and values that rewardsactingwith character, responsibility and commitment.CRC'sBoard,which includeseight independent directors, regularly reviews theCompany'sgovernancepolicies to ensure goodbusiness practices anda strong compliance program.Ourmanagement teamandBoard ofDirectorsare committed to effectiveand ethical corporate governance,whichwebelieve sustainsand enhances shareholder value. CRC regularlyengages indialoguewith our shareholders to ensurewe remain alignedand responsive aswe strive for governance bestpractices.To that end,weareworkingon several fronts for continuous improvement on issues that reflect investor feedback and take into account key governance topics, including super-majority voting, overboardingand compensationmatters. In response to shareholder feedback,we are recommendingamendments toCRC’s certificateof incorporation to reduce the current supermajority voting thresholds to amajority vote. If approved, theBoard also intends to approve relatedamendments to the correspondingprovisions in theCompany’sbylaws.Additionally, the Board amended itsoverboarding policy in2017 to restrict directorswho are currently sittingCEOs of public companies from servingonmore than twootherpublic companyboardswithoutapprovalofCRC’s NominatingandGovernanceCommittee.Building on strong shareholder support of ourexecutive compensation practices, theCompensationCommitteealso responded to shareholder feedback by increasing theproportion of stock-based, long-termperformance-basedawards, reducing the qualitative, individual portionof the annual incentive awardsandprovidingmoredetailed disclosure regarding compensation decisions under the qualitativeportion of theannual incentive. CRC’sworkplace is built onan unwavering commitment to promotinghealth and safety throughout our operationsandprovidingapathway tomiddle-class jobs, ample career advancement and strength through diversity.CRC is proud toparticipate in an industry that provides highwages forworking families and reflects theethnicdiversityofCalifornia.However, there ismore to bedone aswe look to promote thebenefits of diversity throughout the organization. Dedicated to supplying energy forCaliforniabyCalifornians,CRC proudly sharesand endorsesCalifornia’s commitment to conserve ournatural resourcesandprotectour environment.To that end,we are pleased to report thatCRChas adopted2030SustainabilityGoals throughoutouroperationswhich advance theState’s 2030goals andaid inour life-of-field planning process.CRC’sgoals aremeasuredagainsta 2013 baseline, Total of 02 pages in section To my fellow shareholders, AtChubb,wedefineourselvesasanunderwritingcompany,andweareproudof thereputationwehaveearnedforpayingclaimsfairlyandpromptly.Both attributesofChubb—ourunderwritingandclaimshandlingexcellence—were evidentin2017,thethirdyearsince2005with$100billionormoreofaggregate industrylossesfromnaturalcatastrophes.Notably,theCATlossesexperiencedby Chubbwerewithinourriskmanagementexpectations,demonstratingourculture ofunderwritingdisciplineandsoundenterpriseriskmanagement.Atthesame time,theunderlyinghealthandfinancialperformanceofourcompanyremained strongin2017,andwemademeaningfuloperationalandstrategicprogress. Inayearwith$2.2billioninafter-taxcatastrophelosses,Chubbproduceda combinedratioof94.7%,aresultthatspeakstothequalityofourunderwritingand underlyingbookofbusiness.Onacurrentaccidentyearbasis,excludingCATsand priorperioddevelopment,thecombinedratiowas87.6%.Weproducednetincome of$3.9billionandcoreoperatingincomeof$3.8billion.Bookandtangiblebook valuepersharegrew6.5%and8.6%,respectively.Weoutperformedourindustry andmostallourpeers. Chubbmadesubstantialprogressadvancingourcorestrategicobjectives.We effectivelycompletedthecompanywideglobalmergerintegrationofTheChubb Corporationaheadofscheduleandcontinuedtomakeinvestmentsforlong-term growth,includinginitiativestotransformthecompanyintoadigitallyintegrated organization,aswellasgrowingandfurtherdiversifyingourbusinessesinnew productareas,customersegmentsandgeographies.Wearealsocontinuingto executeourgrowthandcapitalmanagementstrategiesthathaveproducedsuperior long-termshareholdervaluecreationovertime. Aswethinkaboutthepastyearandwherewewilltakethecompanyintothe future,weremaincommittedtoensuringthatpayisalignedwithperformanceand theinterestsofourshareholders.WhiletheBoardistrulyproudofthecompany’s absoluteandrelativeperformanceinadifficultyearforourindustry,its2017 compensationdecisionsandrecommendationsreflectanoverallreductionin variableandtotalcompensationduetothe2017naturalcatastrophes.Weendedthe yearwithgreatoptimismaboutthefuturepotentialofthiscompanytocompound bookandtangiblebookvaluegrowth. Atthisimportantmomentforourcompanyandourindustry,yourvote,asalways, isimportant.Weencourageyoutovoteyourshares. OnbehalfoftheBoard,thankyouforyoursupportandforbelievinginChubb. Sincerely, EvanG.Greenberg Chairmanand ChiefExecutiveOfficer Always There. ® Welcome to the CenterPoint Energy Annual Shareholder Meeting March15,2018 DearFellowShareholders: We are pleased to invite you to attend our annual shareholder meeting to be held on April 26, 2018, at 9:00 a.m. central timeinourauditoriumlocatedat1111LouisianaStreetinHouston,Texas. As explained in the enclosed proxy statement, at this year’s meeting you will be asked to vote (i) for the election of ten directors, (ii) for the ratification of the appointment of the independent auditors and (iii) for the approval, on an advisory basis,ofCenterPointEnergy’sexecutivecompensation,andtoconsideranyotherbusinessthatmayproperlycomebefore themeeting. Yourvoteisveryimportanttous–participateinthefutureofCenterPointEnergyandexerciseyourshareholderrightby votingyoursharesrightaway. Only shareholders of record at the close of business on March 1, 2018, or their proxy holders, may vote at the meeting. Attendance at the meeting is limited to shareholders or their proxy holders and CenterPoint Energy guests. Only our shareholdersortheirvalidproxyholdersmayaddressthemeeting. Please review the proxy card for the instructions on how you can vote your shares over the internet, by telephone or by mail.ItisimportantthatallCenterPointEnergyshareholders,regardlessofthenumberofsharesowned,participateinthe affairs of the Company. At CenterPoint Energy’s 2017 Annual Shareholder Meeting, approximately 86 percent of the Company’soutstandingshareswererepresentedinpersonorbyproxy. ThankyouforyourcontinuedinterestinCenterPointEnergy. Sincerely, MiltonCarroll ExecutiveChairmanoftheBoard ScottM.Prochazka PresidentandChiefExecutiveOfficer