Vontobel : to acquire UBS Swiss Financial Advisers

Public

Vontobel to acquire

UBS Swiss Financial Advisers

Zeno Staub	Thomas Heinzl
CEO	CFO

December 16, 2021

Public

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. Vontobel has no obligation to update or alter its forward-looking statements based on new information, future events or other factors.

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 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 Vontobel 2021 Half Year report on pages 55 - 56.

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Vontobel acquires UBS Swiss Financial Advisers

Vontobel is expanding its position in the US wealth management market

• Solid strategic rationale
• • Vontobel, through its SEC licensed entities, is expected to become the largest Swiss-domiciled wealth manager for US clients booked in Switzerland
  • Vontobel can offer focus, continuity and investment expertise for this client segment
  • UBS to refer US clients to Vontobel as a Swiss-domiciled partner
• Financially and operationally attractive
• • Fully merging a highly compatible, profitable and growing business
  • Full transfer of ~20 highly-skilled relationship managers and CHF 7.21 B of assets under management
  • Vontobel retains its strong capital position (~1.9%2 CET1 capital ratio impact of the all-cash transaction)
• Clients will benefit from the Vontobel investment-led expertise
• • Vontobel through its SEC-regulated entity, Vontobel Swiss Wealth Advisors (VSWA), has over a decade of experience and expertise in serving US clients booked in Switzerland
  • Clients will receive access to Vontobel's leading investment expertise and boutiques

1	As of 30.09.21
2	Pro-forma impact based on 30.09.21 actuals	3

Public

We are acquiring a compatible business

			Vontobel Swiss Wealth Advisors			UBS Swiss Financial Advisers
			(VSWA)			(SFA)
	Client focus		US clients booked in Switzerland
	Relationship		Dedicated to serving the needs of US clients seeking geographical diversification
	Managers		and international investment expertise by booking in Switzerland
	Locations		Zürich, Geneva, New York			Zürich
	AuM1		CHF 4.0 B			CHF 7.2 B

1 As of 30.09.21

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We are executing on our strategy to expand our presence in the US

North America represents a significant market opportunity

Estimated relative market size

Wealth Management	Asset Management
(UHNWI/HNWI investable wealth by	(AuM by region, FY 20)2
region, FY 20)1
North		North
America		America
38%
	49%	51%
62%
Other	Other
regions	regions

Vontobel geographical mix

Advised client assets by client domicile

(1H 2021, total CHF 274.5 B)3

North America (CHF 20.8 B)

up from 8% to 10%

post acquisition

92%

Other regions (CHF 253.7 B)

of which: Switzerland (CHF 107.2 B)

of which: Other regions (CHF 146.5 B)

1	BCG, Global Wealth Report, June 2021
2 McKinsey, North American asset management in the 2020s, October 2021
3	Refer to page 16 of Vontobel Half Year Report 2021 for details on client assets by client domicile	5