Vontobel : Presentation

Zeno Staub

CEO

Thomas Heinzl

CFO

Half-year 2023 results

July 27, 2023

Cautionary statement regarding forward-looking statements and disclaimer

This document may contain projections or other forward-looking statements related to Vontobel that are subject to known and unknown risks, uncertainties, and other important factors. These projections and forward-looking statements reflect management's current views and estimates. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Vontobel's future results may vary materially from the results expressed in, or implied by, the projections and forward-looking statements contained in this document. Potential risks and uncertainties include, in particular, factors such as general economic conditions and foreign exchange, share price and interest rate fluctuations as well as legal and regulatory developments.

The figures presented may not add up precisely to the totals provided in the tables and text. Percentages and percent changes are calculated based on rounded figures displayed in the tables and text and may not precisely reflect the percentages and percent changes that would be derived from figures that are not rounded.

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This presentation and the information contained herein are provided solely for information purposes and are not to be construed as a solicitation of an offer to buy or sell any securities or other financial instruments in any jurisdiction, in particular Switzerland and the United States. No investment decision relating to securities or financial instruments of or relating to Vontobel Holding AG or its affiliates should be made on the basis of this document. No representation or warranty is made or implied concerning the information contained herein, and Vontobel Holding AG assumes no responsibility for the accuracy, completeness, reliability or comparability thereof. Information relating to third parties is based solely on publicly available information which is considered to be reliable.

Vontobel undertakes no obligation to update or revise its forward-looking statements based on new information, future events, or other factors or if circumstances or management's estimates or opinions should change, except as required by applicable Swiss laws or regulations.

A glossary of non-IFRS performance indicators and abbreviations is provided in the Half-Year Report 2023 on pages 51 - 52.

Image on cover page: Lugano

For eight years, Vontobel has been serving wealth management clients from its branch in Ticino, which it acquired through the takeover of Finter Bank. With this step, Vontobel consciously sent out a positive signal to the Italian-speaking region. "Vontobel is clearly demonstrating that it sees growth potential in the area of active wealth and asset management, coupled with individual investment solutions, in the Italian-speaking region," was the message back at the beginning in October 2015.

Today, around three dozen Vontobel specialists serve wealth management clients in Lugano, Switzerland's third-largest financial center, and Locarno. These clients can also access the global investment knowhow of more than 300 Vontobel investment experts.

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Highlights and strategy

Highlights

1. Recovering markets, with persistent uncertainty
2. • Gains follow 2022 historical declines
   • Continued macro uncertainty, geopolitical and industry shifts
3. Robust financial results after two exceptional years
4. • WM continued strong, DI normalized and improving trends in AM
   • Results supported by solid NII and improving investor confidence
5. Structurally addressing costs, while seizing unique opportunities
6. • Gross cost reduction by year-end 2023 on track
   • Accelerating and expanding WM RM hiring: expect to hire 50+ RMs FY 2023
7. Global development validates our strategic priorities
8. • Already well-positioned with footprint resilient to geopolitical escalation
   • 8.4% 1H 2023 WM NNM growth excluding CHF 1.8 B impact of market focus
9. Further strengthened our balance sheet and capital ratios
10. • Retaining our flexibility to execute inorganically
    • Solid and trusted partner for private and institutional clients alike

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Key figures

Robust financial results after two exceptional years

Assets under management

Net new money

CHF −0.9 B

CHF 212 B

(−0.9% growth)

(+4%)

CHF 0.9 B (+0.9% growth)

excl. impact of market focus1

Operating income

Pre-tax profit

Group net profit

CHF 696 M

CHF 150 M

CHF 128 M

(+1%)

(−17%)

(−16%)

Return on Equity

Capital ratios

12.5%

CET1: 17.3%

(−2.1 pp)

Tier 1: 24.0%

1 CHF 1.8 B 1H 2023 net outflows from the accelerated implementation of our strategic priority to focus on a strict set of developed markets, as communicated at our November 2022 Investor Day.

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