Ultima Capital : Changes in the shareholder structure of Ultima Capital SA

PRESS RELEASE

Ad hoc announcement pursuant to clause 16 of the BX Swiss Listing Rules

Changes in the shareholder structure of Ultima Capital SA

Switzerland, 26 October 2023 - Ultima Capital SA (BX: ULTIMA, "Ultima"), a Swiss luxury real estate owner, developer and operator listed on BX Swiss, has been informed that its co-founderMax- Hervé George has sold his indirectly held 33.30% shareholdings in Ultima. In this context, Max-HervéGeorge has entered into an agreement with a group of investment companies, including Global Hospitality Securities, Luxembourg ("GHS") and Alpine Holding Kft. ("Alpine Holding"), according to which the interests of the entity holding Mr George's shares will be transferred to GHS, Alpine Holding, or one of their affiliates.

GHS is part of an international investment group managing a diversified real estate portfolio with total assets under management above 3 billion euros (which includes an indirect majority stake in Global Trade Centre S.A., a real estate investor and developer company listed on the Warsaw Stock Exchange).

The entity holding Mr George's shares also holds call options to buy 25.00% shares in Ultima directly and indirectly held by the other co-founder, Byron Baciocchi. The options may be exercised until 31 March 2026.

About Ultima Capital SA

Ultima Capital SA holds, develops and operates a portfolio of 48 residences, chalets, villas and plots across 11 locations. The business activity of Ultima includes the long-term direct or indirect holding of luxury properties, located in France (Courchevel, Megève, Cannes), in renowned ski resorts in Switzerland (Gstaad, Schönried, Crans-Montana), while the other properties are located in the Geneva City area and in Greece (Corfu).

The Company's shares are traded on the BX Swiss exchange in Switzerland under the ticker symbol 'ULTIMA' (Swiss Security number 49106400, ISIN: CH0491064009).

Media:	Investors:
Cabinet Privé de Conseils (CPC), Geneva	Ultima Capital SA
Toomas Kull: [phone]	Margaux Hirzel, Investor Relations
CPC: [phone]	[e-mail]
[e-mail]

Disclaimer

This communication expressly or implicitly contains certain forward-looking statements concerning ULTIMA CAPITAL SA and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of ULTIMA CAPITAL SA to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. ULTIMA CAPITAL SA is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.

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