Slides
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Interim Results 2026
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2 Table of contents 1Business Update 1 Business Update 2Financial Update 2 Financial Update 3View from the Board 3 View from the Board
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Key business updates 3 ▪ Double-digit KPI growth across recent direct equity portfolio ▪ Strong value creation basis for future performance>10% Operational growth ▪ +12% YoY growth at constant currency; +6% in CHF ▪ Recurring in nature with stable margin CHF 905m 1.24% Mgmt. Income margin ▪ Margin stable at 5-year average of 63% ▪ EBITDA development impacted by lower performance income CHF 706m 63% Margin 1 Since H1 2026, performance income includes investment and interest income, as per IFRS 18. Note: Past performance is not indicative of future results. Refers to Partners Group Holding AG. As of 30 June 2026. Source: Partners Group (2026). ▪ Record client demand with successful final closings ▪ Full-year 2026 guidance of USD 26-32 billion confirmed USD 16bn +31% YoY Management income EBITDA1 Portfolio Fundraising
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Fundraising 2023 – H1 2026 (USD bn) 4 We raised >$80 billion over the last fundraising cycle, with record fundraising in H1 2026 While industry fundraising declines, we gained market share… …supported by strong flagship fundraising H1 2026202520242023 Industry (rebased 2023=100) >50% since 2023 -15% since 2023 1 Partners Group data assumes mid-point of 2026 guidance of USD 26 – 32 billion. Industry data is annualized. Source: Preqin. Includes private markets industry. Pulled as of 4 August 2026 for the period ending 30 June 2026. 3 Includes Direct Equity V and PE Direct Secondaries VIII as well as ancillary fundraising since 2023. 4 Includes Direct Infrastructure IV and part of Infrastructure Secondaries I as well as ancillary fundraising since 2023. 5 For asset classes that have not had recent flagships raised, fundraising since 2023 was taken as a proxy. Note: For illustrative purposes only. Past performance is not indicative of future results. Source: Partners Group (2026). Latest fundraising of key strategies5 Private credit Infrastructure4 Real estate Royalties $25bn $20bn $8bn $2bn Private equity3 $28bn1 2 3 4 5 (annualized1)
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Accelerated investment activity across the platform with $5bn signed as of August 5 Theme Beauty & Wellness Digital Infra & Decentral. Energy Pharma CDMO1 New Living Entertainment Asset class Private equity Infrastructure Private credit Real estate Royalties Investment description Natural beauty, wellness, and self-care brand ▪ One of the fastest-growing natural beauty and wellness brands in Europe with broad SKU portfolio of ~1,600 ▪ Focus on scaling the platform to increase consumer reach & rapidly building footprints in new markets Data center power solutions provider ▪ Leading supplier of power solutions for data centers and AI infra in Europe; installing ~3.5 GW of power to-date ▪ Transform AVK into a full infrastructure platform offering long-term Energy-as-a-Service solutions to data centers Pharmaceutical contract dev. & manufacturing organization ▪ Prominent German pharma CDMO1, current capex project expected to double production capacity to 2028 ▪ Tailored investment to uniquely meet the financing required to support future growth Residential complex in central Milan ▪ Build-up of a prime residential portfolio of >15 properties in Italy's largest financial center ▪ Modernize and upgrade amenities in residential complexes in Milan; transforming into Class A/B products Iconic film & TV show rights ▪ Entered into a long-term strategic partnership with Park County ▪ Provided a Royalty Backed Note against rights in South Park, one of most iconic film and TV shows of all time 1 CDMO stands for contract development and manufacturing organization. Note: $5bn refers to signed and executed investments as of 28 August 2026 since 1 July 2026. For illustrative purposes only. There is no assurance that similar investments will be made in the future. Source: Partners Group (2026).
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Robust value creation from operational execution across direct equity portfolio 6 Double-digit growth across direct equity portfolio creates strong momentum for portfolio in mid-term Operational KPIs1 across direct equity portfolio Value creation initiatives across assets 1 Operational KPIs refers to EBITDA growth for direct private equity portfolio as of 31 December 2025, revenue growth for direc t infrastructure portfolio as of 31 December 2025, and trailing 12 -month NOI growth for real estate as of 31 December 2025. 2 4.8 GW relates to the power platforms Middle River Power and PowerTransitions. Note: For illustrative purposes only. Past performance is not indicative of future results. There is no assurance that similar investments will be made in the future. Source: Partners Group (2026). >20% EBITDA Growth Driving growth through investment in operations, supply chains, and tech as well as selective M&A Commercial HVAC service provider >30% Revenue Growth Doubled operating capacity to 4.8 GW2, reduced gas- fired gen. by >70% w/ over 300 MW of battery storage Portfolio of natural gas power plants >€7m Built & scaled prime logistics portfolio through seed acquisitions & development-led add-ons NOI createdPortfolio of urban logistics assets in Spain ~5% ~25% ~8% 2019-2022 ~10% ~30% ~15% Pre-2018 Vintage years Private equity EBITDA growth Infrastructure Revenue growth Real estate NOI growth Vintage years 2023-2025 ~15% ~30% ~10% 2023-2025
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We have delivered consistent private equity performance to clients across cycles 7 Private equity direct track record1 1 Figures as of 31.12.2025. Figures refer to lead and joint lead direct investments in private equity and infrastructure. Figures are based on cashflows and valuations converted to USD using fixed FX rates as of the report date. Model net returns assume Partners Group standard management fee for directs of 1.50% and performance fee of 20% over 8% preferred return. Cash flows starting in 2015 consider 25% LTV fund financing based on interest rate of USD base rate plus 200bps with a 5-year tenure and no recycling of portfolio distributions into loan repayment, in line with Partners Group and broader industry practice. The model net figure is after considering the actual Transaction Income and Equalization Rebate incurred by the portfolio companies (which reduces gross investment performance) which is offset and reflected as a reduction to the standard management fee. The model net figures do not include the impact of other possible factors such as any taxes incurred by investors, organizational expenses typically incurred at the start of the investment program, search fee, admin fees, ongoing operating costs or expenses incurred by the investment program (e.g. audit, hedging) or cash drag. The performance presented reflects model performance and does not represent performance that any investor actually attained. Cambridge Associates figures as of 31.12.2025 and refers to all buyouts and all infrastructure. Quartiles computed based on first vintage in each vintage pool. Note: For illustrative purposes only. Past performance is not indicative of future results. There is no assurance that similar results will be achieved. Figures as of 31.12.2025. Source: Partners Group (2026). 7 2009-2011 Realized 2012-2014 Realized 2015-2017 In realization 2018-2020 In realization 2021-2023 In value creation 2024-2026 In value creation Vintage Pool nDPI nTVPI 4.33x 2.08x 2.58x 1.72x 1.80x 1.41x 0.69x 0.43x 0.14x 0.04x 4.4x 1st quartile 2.6x 1st quartile 1.9x 2nd quartile 1.9x 1st quartile 1.3x 2nd quartile 1.4x 1st quartile Market net DPIPG net DPI On-track or above >2x 0.00x 0.00x
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Our infrastructure platform continues to generate industry-leading returns 8 Infrastructure direct track record1 8 N/A 2009-2011 Realized 2012-2014 In realization 2015-2017 In realization 2018-2020 In realization 2021-2023 In value creation 2024-2026 In value creation nDPI nTVPI 2.2x N/A 1.3x N/A 1.7x 2nd quartile 2.1x 1st quartile 1.8x 1st quartile 1.5x N/A Market net DPIPG net DPI 2.20x 0.78x 1.58x 1.21x 1.80x 0.20x N/A Vintage Pool On-track or above >2x 0.00x 0.00x 0.00x 0.00x 1 Figures as of 31.12.2025. Figures refer to lead and joint lead direct investments in private equity and infrastructure. Figures are based on cashflows and valuations converted to USD using fixed FX rates as of the report date. Model net returns assume Partners Group standard management fee for directs of 1.50% and performance fee of 20% over 8% preferred return. Cash flows starting in 2015 consider 25% LTV fund financing based on interest rate of USD base rate plus 200bps with a 5-year tenure and no recycling of portfolio distributions into loan repayment, in line with Partners Group and broader industry practice. The model net figure is after considering the actual Transaction Income and Equalization Rebate incurred by the portfolio companies (which reduces gross investment performance) which is offset and reflected as a reduction to the standard management fee. The model net figures do not include the impact of other possible factors such as any taxes incurred by investors, organizational expenses typically incurred at the start of the investment program, search fee, admin fees, ongoing operating costs or expenses incurred by the investment program (e.g. audit, hedging) or cash drag. The performance presented reflects model performance and does not represent performance that any investor actually attained. Cambridge Associates figures as of 31.12.2025 and refers to all buyouts and all infrastructure. Quartiles computed based on first vintage in each vintage pool. Note: For illustrative purposes only. Past performance is not indicative of future results. There is no assurance that similar results will be achieved. Figures as of 31.12.2025. Source: Partners Group (2026).
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Third cycle growth sources APAC & Middle East Private wealth Defined contribution Insurance We confirm our 2026 fundraising guidance supported by our diversified offering 9 Sovereign wealth funds Growth increasingly comes from broad focus segments... …supported by additional investment strategies… …offered through diverse solutions tailored to demands Infra. income PE total return strategy PE growth Infra partnership inv. Royalties Special sits. Structured products Broadened evergreen offering White-label solutions Traditional programs Specialized mandates1 2 3 4 5 Built Differently to Build Differently Consultants Note: For illustrative purposes only. Source: Partners Group (2026).
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Insurance distribution Income evergreens PG solutions JVs with life and annuity companies that act as distribution partners to retail clients Custom ALM solutions that address strategic and tactical balance sheet needs Specialized structures tailored to insurance companies' capital needs Enable financing of JV to capture AuM or IM agreement General account ALM mandates Capital charge efficient structures Insurance dedicated mandates Rated feeder funds Consolidators (insurance AuM) Insurance dedicated mandates Rated feeder funds Description PE Infra Credit RE Roya1 2 3 4 1 Estimate of potential opportunity based on current visibility. Note: For illustrative purposes only. Source: Partners Group (2026). 10 JV public/private partnerships Dedicated insurance programs $75bn additional insurer AuM expected to 20331 Focus Not relevantAvailable Momentum accelerating across the insurance channel We have an ambition to quadruple insurance AuM to $100bn with our dedicated insurance team & structured solutions know-how
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11 Table of contents 1Business Update 1 Business Update 2Financial Update 2 Financial Update 3View from the Board 3 View from the Board
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+7% +15% -36%+12% -3% AuM (in USD bn) Management income2 (in CHF m) Mgmt. income EBITDA (in CHF m) Performance income (in CHF m) EBITDA (in CHF m) We report solid H1 2026 financials 12 Growth above average AuM in CHF; margin increase to 63% H1 2025 H1 2026 Impacted by exit timing 2025 / 2026 and lower investment income H1 2025 H1 2026 19%29% 355 216 in % of revenues 174 186 Avg. AuM in CHF1 +5%139 146 Decrease in line with revenues; driven by lower performance income Double-digit growth at constant currency; supported by late management fees H1 2025 H1 2026 905 854 H1 2025 H1 2026 774 706 H1 2025 H1 2026 531 572+6% +8% -39% -9% 62% 64% (in USD) (in constant currency) (in constant currency) (in constant currency) (in constant currency) +7% 63% margin 63% margin Strong fundraising; negative impact from tail-downs & other effects 1 Average AuM in CHF, is calculated on a daily basis. 2 Management income also includes other revenues, and other operating income. Note: As of 30 June 2026, Partners Group adopted IFRS 18 and subsequently the results mentioned herein are in line with IFRS 18 reporting standards. Due to rounding, some totals may not correspond with the sum of the sepa rate figures. Source: Partners Group (2026).
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Revenues1 (in CHF m) Revenues underpinned by management income growth 13 1'210 Revenues Performance income 1'121 Other revenues & other operating income ▪ Revenues -2% YoY at constant currency3 due to lower performance income (-7% YoY on reported basis) ▪ Management income +12% YoY growth in constant currency3 (+6% on reported basis), in line with avg. CHF AuM ▪ Stable management income margin; recurring margin impacted by product mix shift H1 2026 1 Revenues include management income and performance income. 2 Management income also includes other revenues and other operating income. 3 Year-on-year growth at constant currency. See Appendix for comparison of growth rate in CHF and constant currency. Note: Due to rounding, some totals may not correspond with the sum of the separate figures. Source: Partners Group (2026). H1 2025 54 355 106 216 Management income2905 854 Management income growth
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Revenue margin1 1.25% 1.24% 1.23% 1.26% 1.30% 1.18% 1.26% 1.23% 1.31% 1.24% 1.22% 1.33% 1.29% 1.29% 1.22% 1.31% 1.29% 1.26% 1.25% 1.24% 1.24% 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 H1 2026 Attractive management income margin remains within our historical bandwidth 14 1 Calculated as revenues divided by average AuM in CHF, calculated on a daily basis. H1 2026 is annualized. 2 As of 2026, Partners Group adopted IFRS 18 and reports performance fees together with investment and interest income as perfo rmance income. 2006-2025 corresponds to performance fees, while H1 2026 represents performance income which includes investment & interest inco me. 3 Management income also includes other revenues, and other operating income. Note: For illustrative purposes only. Source: Partners Group (2026). Performance income as % of total revenues 1.82% Performance income2 Management income3 1.35% 1.36% 1.25% 1.26% 1.36% 1.23% 1.39% 1.39%1.33% 1.38% 1.74% 1.71% 1.51% 2.41% 30% 30% 24% 29% 19% 46% 14% 1.51% 1.64% 24% 1.56% 19% 32% 1.83% 1.18-1.33% historical mgmt. income margin range 1.89% 19% 1.54%
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Management income1 development by currency (in constant currency and CHF m) We continue to grow our management income despite adverse FX effects 15 1 Management income also includes other revenues and other operating income. 2 Year-on-year growth at constant currency. See Appendix for comparison of growth rate in CHF and constant currency. Note: For illustrative purposes only. Source: Partners Group (2026). Double-digit management income growth in constant currency over the past five years 2020-2025 CAGR +12% +9% Const. currency2 CHF H1 2026 YoY +6% +12% 0.94 0.94 0.91 0.92 0.94 0.97 0.91 0.88 0.89 0.87 0.86 0.80 0.79 0.70 0.75 0.80 0.85 0.90 0.95 1.00 400 500 600 700 800 900 1'000 1'100 H1 2020 H2 2020 H1 2021 H2 2021 H1 2022 H2 2022 H1 2023 H2 2023 H1 2024 H2 2024 H1 2025 H2 2025 H1 2026 Management income in constant currency Management income in CHF CHF/USD FX
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Performance fees H1 2026 (in CHF) Mid-term performance income1 outlook of 25-40% confirmed 16 1 As of 2026, Partners Group adopted IFRS 18 and reports performance fees together with investment and interest income as perfo rmance income. 2 Refers to historic performance fees as a percent of total revenues. Note: For illustrative purposes only. Source: Partners Group (2026). Performance income & realizations outlook 1'698 2023-2025 2026-2028 CHF 1.7bn Performance fees Future performance income driven by dynamic pipeline of mature assets and supported by diversified platform 25-40% of revenues1 26% of revenues2 2023-2025 2026-2028 2026 2027 2028 2023 2024 2025 $12bn $18bn $26bn Realizations ~$20bn ~$25bn ~$30bn Expected Realizations 2026 performance income expected around the range of 20-25%, dependent on the timing of select exits Private equity 48% Private credit 11% Real estate 1% Royalties 1% Infrastructure 40% 233 million Private equity and infra drove performance fees in H1 2026; by strategy, traditional programs & mandates contributed 70% and evergreens 30%
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From revenues to EBITDA (in CHF m) Management income growth offset by lower performance income 17 H1 2026 in CHF Const. currency H1 2025 Revenues 1'121 -7% -2% 1'210 Management income 905 +6% +12% 854 Performance income 216 -39% -36% 355 Performance fees 233 -26% -22% 314 Investment & interest income -17 -140% -143% 42 Total operating costs, of which -414 -5% -1% -435 Personnel expenses1 -352 -6% -2% -375 Management income-funded -270 +3% +7% -263 Performance fee-funded -82 -27% -24% -112 Other operating expenses -63 +4% +7% -60 EBITDA 706 -9% -3% 774 EBITDA margin 63.0% 64.0% Depreciation & amortization -37 -36 Average FTEs2 2'056 +3% 1'998 ▪ Stable total operating costs on a constant currency basis ▪ Personnel expenses driven by lower performance fees; mgmt. income-funded personnel costs increased 3% in line with avg. FTEs ▪ EBITDA: development broadly in line with revenues; margin at 63% We continue to invest into our future growth at a ~60% operating margin3 1 Management income-funded personnel expenses exclude performance fee-funded personnel expenses. Performance fee-funded personnel expenses are calculated on an up to 40% operating cost-income ratio on revenues stemming from performance fees. For further information please refer to the Interim Report 2026, "Key definitions and performance metrics", on pages 23 to 24, available for download at https://www.partnersgroup.com/en/shareholders/reports-and-presentations. 2 Average FTEs refers to average full-time equivalents. 3 Operating margin of approximately 60% for newly generated management fees (assuming stable foreign exchange rates) as well as for performance fees. Note: Due to rounding, some totals may not correspond with the sum of separate figures. Source: Partners Group (2026).
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We continue to operate at an industry-leading margin 18 1 As of 2026, Partners Group adopted IFRS 18 and reports performance fees together with investment and interest income as perfo rmance income. 2019-2025 includes performance fees, while H1 2026 includes performance income. 2 Assuming stable foreign exchange rates. Source: Partners Group (2026). EBITDA margin development1 65% 65% 64% 63% 63% 64% 63% 63% 2019 2020 2021 2022 2023 2024 2025 H1 2026 ▪ Over the last five years, our EBITDA margin has been stable at an average of 63% ▪ We invest into our future growth at an operating margin of ~60% for newly generated mgmt. income and perf. fees2 63% average EBITDA margin
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Solid financials, balance sheet, and liquidity; stable profit at constant currency 19 1 Cash and cash equivalents (CHF 173 million), undrawn credit facilities (CHF 1'369 million) and short -term loans (CHF 1'324 mill ion) as of 30 June 2026. 2 Calculated as profit for the period, divided by average equity attributable to owners of the firm. 3 Financial investments & GP commitment (CHF 1'237 million), investments in associates (CHF 22 million) and seed investments (C HF 467 million) as of 30 June 2026. Note: Due to rounding, some totals may not correspond with the sum of separate figures. Source: Partners Group (2026). H1 2026 in CHF Const. currency H1 2025 EBITDA 706 -9% -3% 774 Operating treasury result -48 +253% -66% -14 Depreciation & amortization -37 +2% +5% -36 Operating profit 622 -14% -2% 725 Investing result -1 -1 Total financing result, of which -11 -15 Foreign exchange & hedging 9 1 Interest expenses -20 -16 Taxes -108 -131 Tax rate 18% 18% Profit 502 -13% -0% 578 From EBITDA to profit (in CHF m) Balance sheet (as of 30 June 2026) 2.9 CHF billion available liquidity1 55% return on equity2 A- / A3 Fitch / Moody's ratings with stable outlook 1.7 CHF billion investments alongside clients3
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20 Table of contents 1Business Update 1 Business Update 2Financial Update 2 Financial Update 3View from the Board 3 View from the Board
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View from the Board 21 Investment strategy Gaining speed for the next cycle Organization Source: Partners Group (2026). H1 reflections
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Reflecting on H1 2026 22 Substantial operational growth across portfolio - ultimately driving strong outcomes for clients Significant realizable investment pipeline - $5bn1 signed since July with more expected to come Solid 6–12-month exit pipeline of successful businesses; advanced in several processes Winning market share in areas of higher growth: Asia, Middle East, SWFs, insurance, and consultants 1 As of 28 August 2026 since 1 July 2026. Includes signed and executed. Note: For illustrative purposes only. Source: Partners Group (2026). Strong resilience despite continuing complex environment
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Note: For illustrative purposes only. Source: Partners Group (2026). Wave 1 Co-pilots and intelligent systems streamline tasks and processes Business Process TransformationNow Investment strategy (I) Wave 2 Automation of tasks & jobs via more autonomous systems and agents Business Performance TransformationNext Wave 3 New scientific methods reconfigure business models & ecosystems Business Model TransformationFuture The "Winning" Business Transformation Private Equity The Next Generation Utilities Infrastructure The New Business Model Real Estate The Upcoming Bifurcation Private Credit The Revenue-Backed Financing Revolution Royalties 23 We have anticipated a major economic transformation for several years
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Investment strategy (II) 24 Partners Group's immediate focus to leverage this next cycle ▪ Private Equity - transformational investing with >150 AI experts and significant bench of operators ▪ Infrastructure - building integrated power / data / infra services utility platforms using advanced technologies ▪ Private Credit - PE-style direct underwriting in extended mid-cap market and adjacent relative value strategies ▪ Real Estate - tech / AI-enabled and vertically integrated asset transformation in living and industrial sectors ▪ Royalties - extending revenue-backed structuring and financing approach across all industry sectors
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25 ▪ Joined PG: 2005 ▪ Executive Team: since 2017 ▪ Prior roles: Co-CEO since 2019, sole CEO from 2021, previously Head of Private Equity ▪ As of 1 January 2027: Chief Investment Officer and Chair of Global Investment Committee David Layton Organization: business continuity and leadership succession These organizational changes are subject to FINMA approval. Source: Partners Group (2026). ▪ Joined PG: 2004 ▪ Executive Team: since 2021 ▪ Prior roles: Head Portfolio Solutions and Chief Risk Officer ▪ As of 1 January 2027: Co-CEO ▪ Joined PG: 2004 ▪ Executive Team: since 2017 ▪ Prior roles: President, Head Business Development, Head of Infrastructure, Head of Private Credit ▪ As of 1 January 2027: Co-CEO Roberto Cagnati Juri Jenkner
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26 Q&A
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Appendix: Key financial metrics by currency 27 H1 2026 (in CHFm) H1 2025 (in CHFm) CHF Constant- currency USD Revenues Management income1 Mgmt. income EBITDA EBITDA Profit 1'121 1'210 -7% -2% 1% 905 854 +6% +12% +16% 572 531 +8% +15% +18% 706 774 -9% -3% -0% 502 578 -13% -0% -5% 184.9 16.1 -6.0 -8.0 187.1 % YoY change 1 Management income also includes other revenues, and other operating income. Note: Due to rounding, some totals may not correspond with the sum of separate figures. Source: Partners Group (2026).
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Currency exposure H1 2026 EUR 44% USD 47% AUD 5% GBP 3% Other 1% Total costs2Management Income1 Appendix: Our revenues and costs were affected by FX movements against CHF 28 1 Management income also includes other revenues, and other operating income. 2 Includes management income-funded personnel expenses (excluding performance fee-funded personnel expenses), other operating expe nses as well as depreciation and amortization. 3 Considers YTD average FX rates vs. FX rates of the same period for the prior year. Note: For illustrative purposes only. Source: Partners Group (2026). CHF 40% USD 25% EUR 14% GBP 9% SGD 7% Other 5% ▪ Appreciation of CHF against USD and EUR3 negatively impacted revenue growth by approx. 6% ▪ FX impact on EBITDA margin of approx. -0.5% points YoY
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Contacts Dr. Adrien-Paul Lambillon Danica Ruso Co-Head Corporate Development T +44 20 7575 2590 adrien-paul.lambillon@partnersgroup.com Co-Head Corporate Development T +41 41 784 67 67 danica.ruso@partnersgroup.com Unternehmer-Park 3 6340 Baar-Zug Switzerland T +41 41 784 60 00 shareholders@partnersgroup.com www.partnersgroup.com 29
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8 August 2024 19:32 Disclaimer This presentation ("Presentation") has been prepared by Partners Group Holding AG (the "Company") solely for information purposes. All sources, which have not been otherwise credited, have been derived from Partners Group. By accessing this presentation (and the information contained herein), you agree to be bound by and liable for breach of the following terms and conditions. All figures related to assets under management (AuM) and investments are preliminary figures based onmanagement’s estimates for the 6-month period ended 30 June 2026 and as such are subject to change. Figures provided have been rounded for presentation purposes and in certain instances rounding anomalies may arise. This Presentation may not be reproduced, retransmitted or further distributed to the press or any other person or published, in whole or in part, for any purpose. Failure to comply with this restriction may constitute a violation of applicable securities laws. This Presentation does not constitute or form part of and should not be construed as, an offer to sell or issue or the solicitation of an offer to buy or acquire securities of the Company in any jurisdiction or an inducement to enter into investment activity. No part of this Presentation, nor the fact of its distribution, should form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever. This Presentation does not constitute a prospectus or a similar communication within the meaning of articles 35 et seqq. and 69 of the Swiss Federal Act on Financial Services ("FinSA") or a listing prospectus within the meaning of the listing rules of the SIX Swiss Exchange. Neither the Presentation nor any copy of it may be taken or transmitted into the United States of America, its territories or possessions, or distributed, directly or indirectly, in the United States of America, its territories or possessions. Any failure to comply with this restriction may constitute a violation of U.S. securities laws. The Presentation is not an offer of securities for sale in the United States. The Company's securities may not be offered or sold in the United States except pursuant to an exemption from, or transaction not subject to, the registration requirements of the Securities Act. Additional restrictions may apply according to applicable securities laws of other jurisdictions, including, without limitation, the European Union, Canada, Australia and Japan. The information contained in this Presentation has not been independently verified. The Company is not under any obligation to update or keep current the information contained herein. Accordingly, no representation or warranty or undertaking, express or implied, is given by or on behalf of the Company or any of their respective members, directors, officers, agents or employees or any other person as to, and no reliance should be placed on, the accuracy, completeness or fairness of the information or opinions contained herein. Nothing herein shall be relied upon as a promise or representation as to past or future performance. Neither the Company nor any of their respective members, directors, officers or employees nor any other person accepts any liability whatsoever for any loss howsoever arising from any use of this Presentation or its contents or otherwise arising in connection with the Presentation. This Presentation includes forward-looking statements, beliefs or opinions, including statements with respect to plans, objectives, goals, strategies, estimated market sizes and opportunities which are based on current beliefs, expectations and projections about future events. The words "believe," "expect," "anticipate," "intends," "estimate," "forecast," "project," "will," "may," "should" and similar expressions identify forward-looking statements. The forward-looking statements in this Presentation are based upon various assumptions, many of which are based, in turn, upon further assumptions, including, without limitation,management’s examination of data available from third parties. Although the Company believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond its control, and the Company may not achieve or accomplish these expectations, beliefs or projections. Neither the Company nor any of its members, directors, officers, agents, employees or advisers intend or have any duty or obligation to supplement, amend, update or revise any of the forward-looking statements contained in this Presentation. The information and opinions contained herein are provided as at the date of the Presentation and are subject to change without notice. 30