Press release

Leonteq reaches settlement in previously disclosed legacy litigation matter and provides business update

Leonteq AG / Key word(s): Legal Matter Press release: Leonteq reaches settlement in previously disclosed legacy litigation matter and provides business update 27-Dec-2022 / 07:00 CET/CEST Release of an ad hoc announcement pursuant to Art. 53 LR The issuer is solely responsible for the content of this announcement. PRESS RELEASE | LEONTEQ REACHES SETTLEMENT IN PREVIOUSLY DISCLOSED LEGACY LITIGATION MATTER AND PROVIDES BUSINESS UPDATE

Zurich, 27 December 2022 | Ad hoc announcement pursuant to Art. 53 LR

Leonteq AG (SIX: LEON) announced today that a settlement has been reached in respect of previously disclosed civil proceedings brought in the English Commercial Court by Utmost International Isle of Man Limited and Utmost Paneurope dac and subject to court approval these proceedings will be dismissed. The legacy case originally put forward by Old Mutual International group companies, which were since acquired by Utmost, primarily related to alleged events in the period 2012 to 2016.

Business update

In the second half of 2022 to date, Leonteq continued to register reduced client demand on the back of an overall challenging market environment but recorded stable monthly net fee income over the same period. At the same time, Leonteq continued to maintain a prudent approach to risk management with its net trading result compensating for subdued client activity, particularly in the third quarter of 2022. As a result, Leonteq expects to report a group net profit for 2022 in the area of the prior-year record result of CHF 155.7 million, equivalent to EPS of CHF 8.47 (previous guidance was to exceed the prior year’s group net profit).

 

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LEONTEQ

Leonteq is a Swiss fintech company with a leading marketplace for structured investment solutions. Based on proprietary modern technology, the company offers derivative investment products and services and predominantly covers the capital protection, yield enhancement and participation product classes. Leonteq acts as both a direct issuer of its own products and as a partner to other financial institutions. Leonteq further enables life insurance companies to produce capital-efficient, unit-linked pension products with guarantees. The company has offices and subsidiaries in 13 countries, through which it serves over 50 markets. Leonteq AG is listed on the SIX Swiss Exchange (SIX: LEON). www.leonteq.com