CALIDA : New Chairman and changes to the Board of Directors of Calida Holding AG

CALIDA GROUP Press Release

New Chairman and changes to the Board of Directors of Calida Holding AG

General Meeting brought forward

Owing to the exceptional situation, the Board of Directors of Calida Holding AG, which is listed on the SIX Swiss Exchange, has decided to bring forward the Annual General Meeting originally planned for April 29, 2020 to the new date of April 17, 2020. Out of consideration for the well-being of shareholders, and following the relevant official instructions, this year's General Meeting will be held without the physical attendance of shareholders.

As the implications of the COVID-19 pandemic are currently not foreseeable, CALIDA Holding AG has decided to abstain from its prior forecast for 2020. As in previous events of general economic downturn, the CALIDA GROUP has implemented measures to protect profitability and liquidity of its business. In this context, the Board of Directors proposes to the AGM to not distribute any dividend for the business year 2019.

The following changes on the Board of Directors of Calida Holding AG are planned as from the date of the AGM on April 17:

• In order to meet all his professional challenges properly, Marco Gadola has decided to hand over the chairmanship to current Vice Chairman Hans Kristian Hoejsgaard. Mr. Hoejsgaard will be proposed to shareholders as the new Chairman at the Annual General Meeting of Calida Holding AG on April 17, 2020. Marco Gadola will remain on the Board as Vice Chairman.
• Dijana Kellenberger, who represents the interests of one of Calida's founding families on the Board of Directors, intends to step down from the Board to concentrate fully on the operational management of family firm Blue Lemon.
• Dijana Kellenberger's husband, Erich Kellenberger is once again making himself available for election to the Board of Directors as representative of the family, which as anchor shareholder currently holds a 34.1 percent stake in Calida Holding AG. This requires an amendment to the age limit in the Articles of Incorporation of CALIDA Holding AG from 70 to 75 years. This change to the Articles will be put to shareholders for approval at the Annual General Meeting.
  Erich Kellenberger represented the family's interests on the Board between
  1986 and the 2019 General Meeting.

• Dr. Valentin Chapero Rueda, will step down from the Board of Directors as per the 2020 Annual General Meeting. His proposed replacement on the Board is Gregor Greber, Co-Founder and Senior Partner of Veraison. The 53-year-old financial specialist has over 26 years of professional experience in various aspects of the Swiss equities business.

The other incumbent members of the Board of Directors of Calida Holding AG, Nathalie Gaveau, Stefan Portmann and Dr. Lukas Morscher, are making themselves available for a further term of office, and will be proposed for re-election at the Annual General Meeting of Calida Holding AG on April 17, 2020.

Sursee (Switzerland), March 26, 2020

Further information:

Hirzel.Neef.Schmid.Counselors

Jörg Neef

Tel.: [phone]

[e-mail]

CALIDA GROUP is a globally active apparel group with its head office in Switzerland. It encompasses the lingerie brands CALIDA and AUBADE, alpine sports and outdoor brands MILLET, LAFUMA and OXBOW, and outdoor furniture brand LAFUMA MOBILLIER. In 2019, the Group and its approximately 3,000 employees generated revenue of around CHF 404 million. CALIDA GROUP is listed on the SIX Swiss Exchange.