Slide 1: Leonteq AG Half-Year 2025 Results
LEONTEQ AG HALF-YEAR 2025 RESULTS Zurich, 24 July 2025 1
Slide 2: Legal Disclaimer
L EO N T EQ H A L F -Y E A R 2 0 2 5 R E S U LTS LEGAL DISCLAIMER Forward Looking Statements: This presentation contains statements that constitute “forward-looking statements,” including but not limited to management’s outlook for Leonteq’s financial performance, statements relating to the anticipa
Slide 3: Agenda
L EO N T EQ H A L F -Y E A R 2 0 2 5 R E S U LTS AGENDA 01 02 03 Key Financial Strategy messages performance update 3
Slide 4: Key messages
L EO N T EQ H A L F -Y E A R 2 0 2 5 R E S U LTS • Underlying profit before taxes of CHF 17 million (+33% yoy) • Strong CET1 ratio of 14.4% according to SSA as of 30 June 2025 • Implementation of SA-FRTB well advanced: CET1 ratio of at least 14% expected • Legacy compliance issues expected to be res
Slide 5: Financial Performance
L EO N T EQ H A L F -Y E A R 2 0 2 5 R E S U LTS 5 PERFORMANCE FINANCIAL HANS WIDLER, CFO
Slide 6: Well on track to deliver profitable underlying result for 2025
L EO N T EQ H A L F -Y E A R 2 0 2 5 R E S U LTS Well on track to deliver profitable underlying result for 2025 Total operating income Underlying operating Underlying profit before (CHF million) expenses1 taxes1 (CHF million) (CHF million) -7% -11% +33% 17 133 13 124 121 109 107 105 -4 H1 2024 H2 20
Slide 7: Margin-driven reduction in net fee income offset by hedging contributions
L EO N T EQ H A L F -Y E A R 2 0 2 5 R E S U LTS Margin-driven reduction in net fee income offset by hedging contributions Net fee and net trading Change in partner mix impacts turnover Turnover by issuer category (CHF billion) result (CHF million) • Decrease in turnover with historic partners, part
Slide 8: Costs down 11% - well on track to meet full-year cost guidance
L EO N T EQ H A L F -Y E A R 2 0 2 5 R E S U LTS Costs down 11% - well on track to meet full-year cost guidance Total operating expenses Cost drivers H1 2025 vs. H1 2024 (CHF million) • Reduction in contractors and FTEs • Deferral effects of lower variable compensation H1 2024 reported 121 following
Slide 9: Transition to new regulatory regime on track
L EO N T EQ H A L F -Y E A R 2 0 2 5 R E S U LTS Transition to new regulatory regime on track Status of implementation1 Capital Credit risk Operational risk Other risk Market risk Temporary application of SSA following phase-in of scaling factors (SSA) Market risk Well advanced with implem
Slide 10: Strong capital ratios as of 30 June 2025
L EO N T EQ H A L F -Y E A R 2 0 2 5 R E S U LTS Strong capital ratios as of 30 June 2025 Capital ratios Eligible capital of CHF 658 million (31.12.2024: 740 million) impacted by (0.7%) • Dividend distribution to shareholders of (1.1%) 0.1% 1.2% (1.1%) CHF 53 million • OCI impacts of CHF 45 million
Slide 11: Strategy Update
L EO N T EQ H A L F -Y E A R 2 0 2 5 R E S U LTS STRATEGY UPDATE C H R I ST I A N S P I E L E R , C EO 11
Slide 12: Unsatisfactory performance in recent years
L EO N T EQ H A L F -Y E A R 2 0 2 5 R E S U LTS Unsatisfactory performance in recent years New business initiatives could not offset Regional diversification has not been Investments in new businesses and reduction of traditional structured notes adequately managed regulatory environment drove staf
Slide 13: Focus areas in the first 21 weeks
L EO N T EQ H A L F -Y E A R 2 0 2 5 R E S U LTS Focus areas in the first 21 weeks Initiated efforts to restore trust from clients, partners and counterparties Engaged with major shareholders Worked on resolving compliance legacies with regulators to conclude by year-end 2025 Defined strategic prior
Slide 14: Generating value through effective and efficient combination of …
L EO N T EQ H A L F -Y E A R 2 0 2 5 R E S U LTS Generating value through effective and efficient combination of … Large client franchise Accelerate onboarding and trading with institutional clients Find more ways to access self-directed investors LEONTEQ USP Outstanding State-of-the-art product cap
Slide 15: Resize, Optimise, Expand: 7% CAGR with broadly flat cost base
L EO N T EQ H A L F -Y E A R 2 0 2 5 R E S U LTS Deliver 7% CAGR (2024-2027) with a broadly flat cost base RESIZE OPTIMISE EXPAND Footprint: Exit Japanese market General management: Enhance Share of wallet with clients: Focus on through sale (expected to be operational leadership and organisational
Slide 16: Enhance transparency in half-yearly disclosures
L EO N T EQ H A L F -Y E A R 2 0 2 5 R E S U LTS Enhance transparency in half-yearly disclosures to enable investors and analysts to track our performance The Leonteq Regional view reporting-cube1 • How we manage our distribution capabilities and client franchise in our target markets • Reporting: R
Slide 17: ROE – a path to consistent profitability over the next 24 months
L EO N T EQ H A L F -Y E A R 2 0 2 5 R E S U LTS ROE – a path to consistent profitability over the next 24 months We are adjusting our … to deliver improved … whilst returning excess business … profitability… capital to shareholders Financial targets New capital return policy Resize parts of the bus
Slide 18: Ambition to return excess capital in H1 2027
L EO N T EQ H A L F -Y E A R 2 0 2 5 R E S U LTS Ambition to return excess capital in H1 2027 Revised capital return policy for the financial Target capital ratio Excess capital year 2025 et seq. • The group targets an ordinary dividend payout ~1% ratio of ~30% of Group net profits (to be paid out i
Slide 19: Summary
L EO N T EQ H A L F -Y E A R 2 0 2 5 R E S U LTS Summary Well on track to Legacy Transition to Clear path Unlocking deliver profitable compliance new regulatory defined to excess capital underlying issues expected regime on track consistent through share results for 2025 to be resolved profitability
Slide 20: Appendix
L EO N T EQ H A L F -Y E A R 2 0 2 5 R E S U LTS 20 APPENDIX
Slide 21: Key drivers and measures to achieve targets – regional view
L EO N T EQ H A L F -Y E A R 2 0 2 5 R E S U LTS Key drivers and measures to achieve targets set over the next 24 months – regional view Total operating income Target markets Growth ambition Key measures and milestones (CHF million) covered avg 2017-2019 111 • New local leadership appointed to drive
Slide 22: Key drivers and measures to achieve targets – trading book view
L EO N T EQ H A L F -Y E A R 2 0 2 5 R E S U LTS Key drivers and measures to achieve targets set over the next 24 months – trading book view Total operating income Capital intensity Growth ambition Key measures and milestones (CHF million) (indicative only) • Focusing more on thematic baskets Equity
Slide 23: Key drivers and measures to achieve targets – issuer view
L EO N T EQ H A L F -Y E A R 2 0 2 5 R E S U LTS Key drivers and measures to achieve targets set over the next 24 months – issuer view Turnover Number of Growth ambition Key measures and milestones (CHF billion) issuers avg 2017-2019 10 H1 2024 9 • Targeted management of distribution efforts globall
Slide 24: ti LEONTEQ
ti LEONTEQ