ORIOR : Analyst and media presentation first half 2020

2020ORIOR Group

Half Year Results

Disclaimer

This presentation is not a prospectus within the meaning of Article 652A of the Swiss Code of Obligations, nor is it a listing prospectus as defined in the listing rules of the Six Swiss Exchange AG or a prospectus under any other applicable laws.

These materials do not constitute or form part of any offer to sell or issue, or any solicitation or invitation of any offer to purchase or subscribe for, any securities, nor shall part, or all, of these materials or their distribution form the basis of, or be relied on in connection with, any contract or investment decision in relation to any securities.

The materials might contain forward-looking statements based on the currently held beliefs and assumptions of the management of ORIOR AG. Management believes the expectations expressed in such statements are based on reasonable assumptions. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance, or achievements of ORIOR AG, or industry results, to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements.

Note to performance measures

ORIOR uses alternative performance measures in this presentation which are not defined by Swiss GAAP FER. These alternative performance measures provide useful and relevant information regarding the operative and financial performance of the Group. The document "Alternative Performance Measures Half Year 2020", which is available on https://orior.ch/en/financial-reports, defines these alternative performance measures.

2 Half Year Results 2020 | 19 August 2020

Agenda

Opening remarks by CEO

• CEO Statement

First half 2020

• Key figures ORIOR group and segments
• Consolidated income statement and balance sheet
• One-timeextraordinary effects in connection with the coronavirus pandemic

Key Group initiatives

• ORIOR 2025 Strategy
• The ORIOR Responsibility

Outlook

• ORIOR Group
• ORIOR segments

3 Half Year Results 2020 | 19 August 2020

CEO Statement

Good first-half results in view of the corona pandemic, thanks to our broad operational footprint

Organic sales growth

• Good start to 2020 fiscal year;
  since mid-March-> shift in consumption patterns -> significant shifts in product and channel mix.
• Generally much greater demand from retail

1. Positive impact on core brands and products.

• 1. Sharp drop in demand for ready meals (working from home, more time to cook).
• Lockdown of food service outlets caused significant drop in revenues
• 1. Travel/freedom of movement restrictions -> Casualfood shut down almost completely during lockdown.
  1. Strong negative impact on Convenience product lines (event catering, schools, etc).

Corona pandemic has a material impact on operating results

• Channel mix: abrupt standstill in revenues in food service channel, in airports and railway stations.
• Product mix: growth with lower-margin products and product groups.
• One-timecosts incurred to prepare and implement protective measures and support our supply capabilities (production adjustments, process adjustments, productivity, absentee rates).

Key Group initiatives

• ORIOR New Normal: new opportunities.
• Second Sustainability Report published -> further improvement in important KPIs, new projects launched.
• ORIOR 2025 Strategy -> to be presented on 9 November 2020.

Positive outlook

• Operational profitability clearly to improve in H2; significant improvement expected in 2021.

4 Half Year Results 2020 | 19 August 2020

Agenda

Opening remarks by CEO

• CEO Statement

First half 2020

• Key figures ORIOR group and segments
• Consolidated income statement and balance sheet
• One-timeextraordinary effects in connection with the coronavirus pandemic

Key Group initiatives

• ORIOR 2025 Strategy
• The ORIOR Responsibility

Outlook

• ORIOR Group
• ORIOR segments

5 Half Year Results 2020 | 19 August 2020

Strong and stable profile thanks to broader footprint

Diversification across categories, channels, customer and in geography strengthens the profile

Categories: leading positions in growing niches within our domestic and foreign markets.

Channels: from traditional retailers to discounters and food-to-go sector.

Customers and countries: broad portfolio of local, regional, national and international customers.

Switzerland1	Abroad1
20132	20162	2018	2019	H1 2020
Net sales	Net sales	Net sales	Net sales	Net sales
CHF 520.0 m	CHF 527.7 m	CHF 576.7 m	CHF 596.4 m	CHF 287.4 m

4.4%

10.0%

24.1%

27.9%

27.4%

Business materially impacted

by corona pandemic.

1. Revenue data is based on customer domicile.
2. Reported revenues, i.e., excluding the effects of IFRS 15.

6 Half Year Results 2020 | 19 August 2020

Decentralised business model

Based on strong, autonomous competence centres with diversified product concepts supported by value adding group initiatives.

• Competence centre philosophy encourages individuality, strong regional identification and value enhancing group initiatives.
• Group-wideinitiatives and Champion Model enhance our efficiency and agility.

Convenience			Refinement		International
Category pioneer			Strong traditional brands
Fredag Le Patron Pastinella	Biotta	Rapelli Albert Spiess Möfag	Culinor Casualfood Gesa	Spiess
Europe

• Casualfood fully consolidated since September 2019
• • Equity interest increased to 70% and integrated into the International segment as a standalone competence centre.
  • Purchase of an additional 19% stake scheduled for autumn 2020.

7 Half Year Results 2020 | 19 August 2020

Key figures for first half 2020

Net sales			Gross profit			EBITDA
CHF 287.4 Mio		CHF 125.5 Mio.		CHF 23.5 Mio.
+2.8%		+1.2%			-17.4%
Acquisitive		Gross margin		EBITDA margin
+4.0%	43.7%		8.2%
Organic		-70 Bps		-200 Bps
+0.2%

FX effect

-1.4%

Net Profit

CHF 8.3 Mio.

-40.5%

Net profit margin

2.9%

-210 Bps

• Operating performance clearly impacted by corona pandemic; considering the extraordinary circumstances, Refinement and International segments deliver good organic growth; negative performance at Convenience and Casualfood attributed to near standstill of air travel and lockdown food service channels.
• Gross margin slightly lower due to mix shifts (more Refinement, fewer Convenience products).
• EBITDA mostly impacted by non-recurring costs, Casualfood and changes in product and channel mix.
• Net profit additionally impacted by Casualfood (acquisition-related depreciation) and positive income tax effects from 2019.

8 Half Year Results 2020 | 19 August 2020

Organic growth of 0.2%

Acquisition effect	Organic growth	FX effect
+0.2%	-1.4%
+4.0%

+2.8%

Revenues H1 2019	Revenues H1 2020
CHF 279.6 m	CHF 287.4 m

• Acquisition effect: Casualfood consolidated since September 2019
• Organic growth 0.2%
• • Better than expected considering the extremely challenging situation.
  • Strong performance by Refinement segment and slight growth from International segment.
• Significant currency translation effect
• • Strong CHF has a relevant effect of -1.4% on top line.

9 Half Year Results 2020 | 19 August 2020

Main factors influencing EBITDA

CHF 28.4 m



Protective measures

10.2%



Slower processes



Product and channel mix



Insurance benefits

CHF 23.5 m



Production adjustments



Short-time work

8.2%



Organisational adjustments



Increased cost focus



Lost revenues, food service



Overperformance Retail

EBITDA H1 2019

EBITDA H1 2020

• Main factors influencing EBITDA: loss of sales in food service, Casualfood near standstill, one-time costs to protect employees and secure the company's supply capabilities as well as changes in product and channel mix.

10 Half Year Results 2020 | 19 August 2020

Convenience Segment

Partly materially impacted by government guidelines and restrictions

Revenues

Revenues -3.9% to CHF 95.2 m

• Acquisitions: 0.0 %
• Organic:-3.9%
• FX effect: 0.0%

Share of Group

Convenience segment as % of ORIOR Group revenues: 32.8%

• Change in product mix: New consumption patterns (home office, more time to cook) led to steep decline in ready meal business.
• Significant impact from shift in channel mix: Near standstill of food service business (restaurant/to-go, wholesalers, group homes, canteens, children lunch services) -> food service accounts for a greater share of revenues in the Convenience segment than in the other segments.
  -> Lost food service revenues cannot be offset by higher revenues with the retail industry.
• Fresh pasta, veggie specialities and Biotta juices show very good trends.

11 Half Year Results 2020 | 19 August 2020

Refinement segment

Strong organic growth fueled by surge in demand from retailers

Revenues

Revenues increased by +3.7% to CHF 131.9 m

• Acquisitions: 0.0%
• Organic: +3.7%
• FX effect: 0.0%

Share of Group

Refinement segment as % of ORIOR Group revenues: 41.4%

• Strong growth, fueled by all three of the segment's competence centres.
• Growth thanks to significant revenue growth at branded and core product categories, fueled by greater demand from retailers and border closures and restrictions on the right to freedom of movement.
• Channel mix: Gastronomy platforms "Servizio Ticino" and "Spiess Gastro" came to a near standstill during the lockdown.
• Raw materials situation: high meat prices, limited supply of Swiss raw materials.

12 Half Year Results 2020 | 19 August 2020

International segment

Organic growth slightly positive thanks to good performance of Gesa and Spiess Europe

Revenues

Revenues increased by +11.1 % to CHF 74.8 m

• Acquisitions: +16.6%
• Organic: +0.3%
• FX effect: -5.8%

Share of Group

International segment as % of ORIOR Group revenues: 25.8%

• Acquisition-drivengrowth from Casualfood, fully consolidated since September 2019.
• Casualfood almost completely shut down during the lockdown -> substantial impact on all important Group and segment KPIs.
• Biotta sister company Gesa (specialised in organic juices for B2B market) and Spiess Europe deliver very good results.
• Culinor Food Group performs well in its domestic Belgian market -> increase in sales of Home Delivery and Chef Specialities; Decline in food service sales and ready meals (home office, more time to cook).

13 Half Year Results 2020 | 19 August 2020

Consolidated income statement

In CHF millionJan - Jun 2020 Jan - Jun 2019 Change ∆ in %

Revenues	287.4	279.6	7.8	+2.8%
Cost of materials/change in inventory	−161.9	−155.6
Gross profit	125.5	124.1	1.4	+1.2%
as a % of revenues	43.7%	44.4%		-70 Bps
EBITDA	23.5	28.4	-4.9	-17.4%
as a % of revenues	8.2%	10.2%		-200 Bps
Depreciation and amortisation	−13.4	−11.0
EBIT	10.0	17.4	-7.4	-42.4%
as a % of revenues	3.5%	6.2%		-274 Bps

• Negative yoy change in EBITDA, mainly due to Casualfood, corona-related extraordinary costs and stronger revenue flows in the lower-margin Refinement segment.
• Higher depreciation attributed to acquisition of a majority interest in Casualfood in September 2019 and its ensuing consolidation.

14 Half Year Results 2020 | 19 August 2020

Consolidated income statement | EBIT - Net profit

In CHF millionJan - Jun 2020 Jan - Jun 2019 Change ∆ in %

EBIT	10.0	17.4	-7.4	-42.4%
as a % of revenues	3.5%	6.2%		-274 Bps
Net financial income/expense	−1.3	−1.3
Profit before tax	8.7	16.1	-7.4	-46.1%
as a % of revenues	3.0%	5.8%		-274 Bps
Income taxes	−1.9	−2.2
Minority interests	+1.5	0.0
Net profit	8.3	14.0	-5.7	-40.5%
as a % of revenues	2.9%	5.0%		-210 Bps

• Net financial result unchanged year-on-year, absence of earnings from Casualfood (due to its full consolidation) and higher interest expense were offset by the less volatile swings in foreign currency exchange rates.
• Increase in tax rate to 21.8% attributed to losses at Casualfood and non-utilisation of loss carryforwards and the absence of the positive non-recurring effects from the prior-year period.
• Furthermore, 30% of net loss at Casualfood is not allocated to ORIOR shareholders (minority interests).

15 Half Year Results 2020 | 19 August 2020

Debt-to-equity ratio

Debt-to-equity ratio1
in CHF million					Acquisition
					Biotta
					-	Acquisition
					Interest in	Casualfood
	Acquisition				Casualfood	(2nd tranche)
		Acquisition		(1st tranche)		Acquisition
	Noppa's		Culinor				3rd tranche
	-
						Casualfood
	Divestment,
						2.87x
	Lineafresca
		2.45x		2.46x	2.47x
				Preview:
1.59x				1.84x			Deleveraging
1.46x						remains a priority
		1.04x
2013	2014	2015	2016	2017	2018	2019	H1 2020

− Briefly higher debt ratio due to corona-related effects (esp. Casualfood) − Clearly committed to deleveraging

1 2013−2016 based on IFRS.

16 Half Year Results 2020 | 19 August 2020

Consolidated balance sheet

In CHF million	30.06.2020		31.12.2019
Current assets	189.2	48.0%	190.8	47.2%
Non-current assets	128.2		133.0
Intangible assets	74.6		78.9
Financial assets	2.0		1.6
Total assets	394.0	100.0%	404.3	100.0%
In CHF million	30.06.2020		31.12.2019
Total liabilities	317.8	80.7%	317.8	78.6%
Equity	76.2	19.3%	86.5	21.4%
Total liabilities and equity	394.0	100.0%	404.3	100.0%

• No substantial changes in balance sheet.
• Equity changes in connection with dividend-payment and lower net profit.
  Equity ratio of 19.3%; goodwill shadow accounting shows an equity ratio of 36.2%.

17 Half Year Results 2020 | 19 August 2020

Agenda

Opening remarks by CEO

• CEO Statement

First half 2020

• Key figures ORIOR group and segments
• Consolidated income statement and balance sheet
• One-timeextraordinary effects in connection with the coronavirus pandemic

Key Group initiatives

• ORIOR 2025 Strategy
• The ORIOR Responsibility

Outlook

• ORIOR Group
• ORIOR segments

18 Half Year Results 2020 | 19 August 2020

ORIOR 2025 Strategy

Reflection 2020	Formulation/development	Integration
Process/Approach	2025 Strategy	2025 Strategy

Core ORIOR 2025 Team

• Interaction/Engagement
  core team strategic pillars

ExCom members

• Establishment of individual strategic pillars (description, goals, focus)

ExCom, 19./20.11.19	ExCom, 14./15.01.20
	− Review of 2020 Strategy		− Specification
	− Definition strategy process		of strategic pillars
	− Definition governance		− Key strategic
	− Establish timeline		initiatives

						Town Hall Meetings
		Top50, 2./3.07.20				− Internal communication
		− Presentation of strategic	Top50, 22.09.20	with all units
		pillars by ExCom
				− Final Buy in
		− Validation/finalisation core
		elements of the strategy	2025 Strategy
						Publication, 09.11.20
						− 2025 Strategy
ExCom, 16.06.20	ExCom, 08./09.09.20	presented to
		− Validation of strategic		− Buy in strategy	investors
		pillars			within the strategic	− Media Release
					pillars

Nov 19

Dec 19

Jan 20

Feb 20

June 20

July 20

Aug 20

Sept 20

Oct 20

Nov 20

Dec 20

• Basic procedure for strategy process

VRS, 04.12.19

• Final assessment, 2020 Strategy
• Preliminary board discussion of key topics for 2025 Strategy

VRS, 06.02.20

• Presentation of core elements

VRS, 13.08.20

• Presentation and approval of 2025 Strategy
• Business Units presentation measures/initiatives

VRS Workshop, 20./21.10.20

19 Half Year Results 2020 | 19 August 2020

The ORIOR Responsibility

Examples of sustainability at ORIOR

20 Half Year Results 2020 | 19 August 2020

Agenda

Opening remarks by CEO

• CEO Statement

First half 2020

• Key figures ORIOR group and segments
• Consolidated income statement and balance sheet
• One-timeextraordinary effects in connection with the coronavirus pandemic

Key Group initiatives

• ORIOR 2025 Strategy
• The ORIOR Responsibility

Outlook

• ORIOR Group
• ORIOR segments

21 Half Year Results 2020 | 19 August 2020

Outlook for ORIOR Group - CEO Statement

• Sales and profitability (EBITDA margin) in the second half of 2020 in all three segments at previous year's level (excl. Casualfood).
• Gradual recovery at Casualfood; upside potential thanks to business model.
• • All key figures clearly below previous year's level; break-even should be reached in some months towards the end of 2020.
  • Additional upside potential thanks to business model with maximum agility and flexibility and specialisation in small spaces (incl. Smartseller).
  • The ongoing negotiations on short- and medium-term rent reductions will be concluded in autumn; positive impact on second half of the year and on future results.
  • We expect to return to profitability in 2021.
• Looking beyond the current year, we are very optimistic regarding 2021 and expect good growth and a significant improvement in results (EBITDA margin).

22 Half Year Results 2020 | 19 August 2020

Outlook for ORIOR Group

H2 and FY excl. materially impacted Casualfood stable to slightly positive

in CHF million	H1 2020	Guidance H2 2020	Guidance FY 2020	FY 2019
ORIOR Group revenues	287.4	298 to 3081	585 to 5951	596.4

• Organic FY 2020 -3.0 to -1.5%;
  Organic excl. Casualfood at prior-year levels or slightly positive growth expected.
• Food service recovery continues, but not back at pre-corona levels.
• Stronger demand in retail begins to flatten out; resumption of innovative new product launches with good potential.

	H1 2020	Guidance H2 2020	Guidance FY 2020	FY 2019
Group EBITDA margin	8.2%	9.0 to 9.5%	8.6 to 8.8%	10.2%

− Significant improvement in operating profitability in H2 vs H1. Drivers are one-off and extraordinary corona-related costs, costs management, short-time work (one-time insurance benefits in H1).

− Operating profitability excl. Casualfood in H2 back at prior-year level. − Casualfood with material negative impact.

− Change in product and channel mix: Shift in consumption patterns will continue (working from home, more time to cook, etc.).

1 At constant exchange rates (H1/2020 average EUR/CHF exchange rate: 1.0641).

23 Half Year Results 2020 | 19 August 2020

Outlook for ORIOR Group

H2 and FY excl. materially impacted Casualfood stable to slightly positive

	Guidance FY 2020	FY 2019
Tax rate	18 to 21%	8.4%

• Casualfood (non-utilisation of loss carryfowards)
• Positive effects from STAF 2019.

in CHF million	Guidance FY 2020	FY 2019
CapEx	14 to 16	14.1

• Opening of new Berlin airport in late October 2020 will entail one-off increase in expenditures (but less than originally budgeted due to the staggered opening of terminals in the age of corona).

Other core Group initiatives

• ORIOR «New Normal»: new opportunities.
• Sustainability further embedded across the company.
• ORIOR 2025 Strategy presentation 9 November 2020.

24 Half Year Results 2020 | 19 August 2020

Outlook for Convenience Segment

Stable to slightly growing 2nd half of 2020, ready meals remain under pressure

Positive drivers:

• Demand from retailers expected to remain high (but slowly levelling out).
• Continued good performance from pasta, Biotta juices, veggie specialities expected.
• Continuing recovery in food service channels: > classic gastronomy, take away, children lunch services.
• Retail resumes launch of innovations: first new products already launched.

Challenges:

• Food service channels with continued reduced performance due to restrictions:
• • event and catering business
  • canteens (home office), elderly homes (restrictions)
  • market consolidation.
• Change in consumption patterns due to official corona restrictions and recommendations
• • ready meals remain under pressure.
• Supply of raw materials (esp. Switzerland, organic, poultry, pea protein).

Pâté King

------

For burger lovers

The perfect creation for every season

Brückenschlag

Just pasta!

Outlook for Refinement Segment

Stable 2nd half of 2020 expected

Positive drivers:

• Demand from retailers expected to remain high (but slowly levelling out).
• Continuing recovery in food service channels:
• • Tourism Ticino/Graubünden
  • Classic gastronomy in urban areas.
• Strong heritage brands with strong credibility
• • Organic/regionality continue to gain momentum.
• Retail resumes launch of innovations: first new products already launched.

Challenges:

• Food service channels with continued reduced performance due to restrictions:
• • Canteens (home office)
  • Market consolidation.
• Cost and availability of raw materials (esp. organic and Switzerland).

• Summer <
• • Sun <
• BBQ <

Giftbaskets

Outlook for International Segment

Stable 2nd half of 2020 (excluding Casualfood), ready meals remain under pressure

Positive drivers:

• Fast pace of innovation: e.g. chef meals, fresh/ultra-fresh meals, to-go concepts such as Deli Berlin.
• Ongoing diversification in terms of geographies and customers (mainly driven by Culinor).
• Gesa and Spiess Export continue to perform well.
• Casualfood ideally positioned for airport ramp-ups (incl. Smartseller).
• Inauguration of Berlin's new airport.

Challenges:

• Only gradual recovery of air traffic
• • Casualfood expected to have at least half of its outlets up and running by year-end.
• Change in consumption patterns and home office:
• • Ready meals remain under pressure.
• Food service channels with continued reduced performance due to restrictions:
• • Schools
  • System gastronomy.

More value

from vegetable juices

ORIOR business model

ORIOR is an internationally operating Swiss food and beverage group that combines craftsmanship with a

pioneering spirit and is thriving on entrepreneurship and strong values. The delightful world of ORIOR consists of well-established companies and brands with leadership positions in growing niche markets in Switzerland and abroad.

ORIOR's decentralised and agile structure combined with the unique and intradisciplinary Champion Model allows to shape the market with innovative products, concepts and services. ORIOR has a strong presence in all retail and food service channels underpinned by long-standing partnerships with customers.

ORIOR's goal is to steadily create value for all stakeholders.

Convenience			Refinement		International
Category pioneer			Strong traditional brands
Fredag Le Patron Pastinella	Biotta	Rapelli Albert Spiess Möfag	Culinor Casualfood Gesa	Spiess
Europe

29 Half Year Results 2020 | 19 August 2020

ORIOR locations

30 Half Year Results 2020 | 19 August 2020

Convenience (CH) - category pioneers

Fredag

Le Patron

Pastinella

Biotta

− Pioneer and leader for	−	Inventor and innovation	−	Strong competence	−	THE Swiss organic
vegan an vegetarian		driver of ultra-fresh ready		in filled and unfilled		pioneer
products		to eat meals		pasta production	−	All-natural organic vege-
− Inventor and leader of tofu	−	High premium ultra-fresh	−	Leader in premium		table and fruit juices and
specialities		pasta sold in shop-in-shop		chilled pasta creations		beverage specialities
− Strong competence in	−	concepts	−	Inventor of gluten/	−	Strong concepts with
meat and poultry	Pioneer and leader		lactose free chilled pasta		well-known and highly
convenience for retail and		of pâtés and terrines		and pasta ranges for		trusted brands: Biotta,
food service				dieters and people with		Vivitz, Traktor and C-ICE
				food intolerances	− Very high culinary and
						quality standards

31 Half Year Results 2020 | 19 August 2020

Refinement (CH) - strong heritage brands

Rapelli

Albert Spiess

Möfag

• Modern character with a hint of history
• Mastri Salumieri
• Ticino specialities
• Top-levelbrand awareness in Switzerland
• Since 1929

• The finest raw ingredients
• Bündnerfleisch
  = GGA brand article
• Pure mountain air and time-honoured tradition
• Highest-lyingmeat-curing facility in Europe
• Since 1906

• Traditional Swiss recipes
• Cleanroom technology
• Innovative, flexible, customer oriented
• Handles small volumes very efficiently
• Time to market
• Since 1978

32 Half Year Results 2020 | 19 August 2020

ORIOR International

Culinor Food Group

• ORIOR Europe platform targets the entire European region
• Premium fresh ready- made meals and meal components for retailers and food service companies in the Benelux
• Ultra modern facilities and a wide range of technologies

Gesa

• Premium vegetable juices and concentrates, pressed from freshly harvested vegetables
• Natural processing methods only
• Broad distribution network across Europe

Spiess Europe

• Sales office ORIOR/Spiess Europe in Haguenau (F) serves as the export platform for distribution outside Switzerland
• Bündnerfleisch "Albert Spiess of Switzerland" is our most popular export product

Casualfood

• A pioneer in travel food service, focused on small-format outlets in high-frequency locations
• Food islands offering freshly prepared specialities
• Strong brand worlds with flexible formats for travellers on the go

33 Half Year Results 2020 | 19 August 2020

Share information

Listing	SIX Swiss Exchange			Share price on 14.08.2020
Security number	11167736
ISIN code	CH011 1677 362
Ticker	ORON
LEI	50670020I84ZA17K9522
UID	CHE-113.034.902
Dividend			2019	2018	2017	2016	2015	2014	2013	2012	2011
Dividend per share in CHF		2.32	2.24	2.17	2.09	2.03	2.00	1.97	1.95	1.93
Dividend increase vs. previous year in %		3.6	3.2	3.8	3.0	1.5	1.5	1.0	1.0	1.6

 ORIOR's attractive dividend policy was confirmed in the ORIOR 2020 strategy and a steady increase in the absolute dividend in coming years is targeted.

Stock information / data		30.06.20	30.06.19
Share price on 30.06.	in CHF	77.90	82.50
High	in CHF	94.70	87.00
Low	in CHF	71.00	74.00
Market cap	CHF million	507.7	537.7
Earnings per share	in CHF	1.28	2.15
Operating cash flow per share	in CHF	1.47	3.20
Shareholders' equity per share	in CHF	11.70	13.58

Major shareholders (20.02.2020)¹

UBS Fund Management AG (CH)	10.51%
Swisscanto Fondsleitung (CH)	5.43%
Credit Suisse Funds AG (CH)	5.31%
Schroders Plc (GB)	4.88%

Company calendar

09.11.20 Investors' Day ORIOR 2025 Strategy

10.03.21 Publication of Full Year Results 2020

26.04.21 Annual General Meeting 2021

1 Information on major shareholders is given on page 16 in the Half Year Report 2020.

34 Half Year Results 2020 | 19 August 2020