Share buyback programme

At the end of 2025 Valiant exceeded the self-defined upper limit of the capital range at 17.2%. The Board of Directors has therefore decided to bring in a share buyback programme. As announced in the media releases of 5 February 2026 and of 13 may 2026, Valiant will buy back up to CHF 75 million of its own shares with a par value of CHF 0.5 each over a period of three years. The programme starts on 1 June 2026 and will run until 2029. Valiant wants to keep the capital ratio within the defined target range of 15–17% over the full term of the programme. Buybacks will therefore take place in line with the changes in the capital ratio and consolidated profit over the next few years.

The aim of the programme is to return capital to shareholders. Shares will be bought back at the market price on a second trading line. The intention is to cancel the shares bought back by way of a capital decrease.

Valiant Holding AG	Securities no.	ISIN	SIX SwissExchange Bloomberg
Normal trading line	1478650	CH0014786500	VATN	VATN SW
Second trading line	154989219	CH1549892193	VATNE	VATNE SE

Detailed information on the share buyback programme can be found in the official buyback notices below in German, English and French.
In accordance with Article 123(1)(c) of the Financial Market Infrastructure Ordinance (FinMIO), the maximum volume of buybacks per day is 7'648 shares.