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Zurich, 9 November 2023 – ��ţ�������� Group AG priced an offering of an aggregate of USD 3.5bn of Additional Tier 1 capital notes on 8 November 2023. The offering comprised two tranches: USD 1.75bn of 9.25% perpetual notes redeemable at the option of ��ţ�������� after five years and USD 1.75bn of 9.25% perpetual notes redeemable at the option of ��ţ�������� after 10 years. Each issue is a direct, unsecured, and subordinated obligation of ��ţ�������� Group AG.

The notes will qualify as Additional Tier 1 capital under Swiss law and, accordingly, are subject to write-down upon occurrence of a Trigger Event or a Viability Event. The notes provide that, following approval of a minimum amount of conversion capital by ��ţ�������� Group AG's shareholders, upon occurrence of a Trigger Event or a Viability Event, the notes will be converted into ��ţ�������� Group AG ordinary shares rather than be subject to write-down. ��ţ�������� Group AG believes that the conversion feature more closely aligns the terms of its Additional Tier 1 capital instruments with current market practice.

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Disclaimer

This announcement is intended solely for information purposes and does not constitute an offer of securities for sale in the United States or any other jurisdiction. No investment decision relating to securities should be made on the basis of this document. The Notes and any ordinary shares that may be delivered upon conversion have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “Securities Act”) or with any securities regulatory authority of any state or other jurisdiction in the United States. The Notes and any ordinary shares that may be delivered upon conversion may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act. There will be no public offer of the Notes or any ordinary shares that may be delivered upon conversion in the United States. This media release constitutes neither an offer prospectus nor a prospectus for admission to trading under the terms of article 35 of the Swiss Financial Services Act (FinSA). This announcement is not for distribution, directly or indirectly, in or into Australia, Canada, Japan or South Africa. The publication of this media release as well as the offer and sale of securities may be subject to restrictions in certain jurisdictions. Persons who might come into possession of this media release must inform themselves about and comply with any applicable legal or regulatory restrictions.

This announcement contains statements that constitute “forward-looking statements,” including, but not limited to, statements relating to the terms of our proposed securities offering. While these forward-looking statements represent our judgments and future expectations concerning the development of ��ţ�������� Group’s or any of its member’s business, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from our expectations. For a discussion of the risks and uncertainties that may affect ��ţ�������� please refer to the "Risk Factors" and other sections of ��ţ��������’s most recent Annual Report on Form 20-F, quarterly reports and other information furnished to or filed with the US Securities and Exchange Commission on Form 6-K. ��ţ�������� is not under any obligation to (and expressly disclaims any obligation to) update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise.