Bellevue reports market-driven decrease of net profit to CHF 15.2 mn – dividend proposal of CHF 1.15 – promising recovery of key markets since Q4 2023

Bellevue Group AG / Key word(s): Annual Results/Dividend Bellevue reports market-driven decrease of net profit to CHF 15.2 mn – dividend proposal of CHF 1.15 – promising recovery of key markets since Q4 2023 27-Feb-2024 / 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. Ad hoc announcement pursuant to Art. 53 of the SWX Listing Rules Zurich, February 27, 2024

2023 annual results

Bellevue reports market-driven decrease of net profit to CHF 15.2 mn – dividend proposal of CHF 1.15 – promising recovery of key markets since Q4 2023

• Persistent difficult market environment for small- and mid-cap growth stocks as well as re-allocation by clients erode assets under management by 26% to CHF 6.9 bn
• Operating income just 15% lower with CHF 81.9 mn thanks to improved net financial investment result and performance fee from private market business
• Operating cost reduction by 5% to CHF 58.2 mn mainly thanks to entrepreneurial compensation model – cost/income ratio up to 71% and above mid-term target range
• Net profit down 40% year-on-year to CHF 15.2 mn – return on equity of 14.2%
• 4.7% dividend yield based on dividend proposal of CHF 1.15
• Strengthening of Executive Board of Bellevue Group with well experienced experts
• Recovery of Bellevue’s key market in Q4 2023 providing tailwind for healthcare strategies – promising growth potential of entire product range as specialist asset

Gebhard Giselbrecht, CEO of Bellevue Group, on the annual results 2023: “2023 was another challenging year for our group. Although the global financial markets were remarkably positive, Bellevue’s key market in the healthcare sector generated once again a below-average market performance. Due to this persistent weakness, clients reallocated some of their assets to more rewarding investment sectors. This situation impacted the development of our group again significantly and compromised our results. However, we’ve seen a promising rebound in our key markets generating tailwind for our healthcare strategies in the fourth quarter of last year. Additionally, our well-diversified and mature private market portfolio will provide further exit opportunities and attractive performance-based income. Our entrepreneurial compensation model ensures an appropriate cost level even allowing targeted investment in our investment expertise and infrastructure. As a specialist asset manager with a straightforward business model and a broad range of selected investment strategies, we are well-positioned to capture any market revival in the healthcare sector for small and medium sized companies to the benefit of clients and shareholders likewise, as we have shown in the past.”