Julius Baer sets focused strategy to unleash its full potential through disciplined execution

Ad hoc announcement pursuant to Art. 53 LR

• Julius Baer today provides an update on progress since January 2025 in addressing legacy issues and immediate pressure points, as well as the results of its strategic review and new medium-term targets
• The measures implemented, ranging from governance changes and strengthening risk management to sharpening the operating model and footprint, form a solid foundation for the transformation process ahead
• Building on its strong fundamentals and unique franchise, the Group sets five strategic priorities aimed at unleashing its full potential to drive top-line growth and restore positive operating leverage, underpinned by disciplined risk management
• As a result, the Group announces updated medium-term targets^* (2026–2028)
  • Net new money improving to 4–5% by 2028
  • Adjusted cost/income ratio improving to less than 67% by 2028
  • Adjusted return on CET1 capital (RoCET1)^** of at least 30% over the cycle
• Through reliable execution and delivery on its strategic targets, the Group is committed to achieving sustainable performance and long-term value creation for its clients, shareholders, and employees

Zurich, 3 June 2025 – Stefan Bollinger, CEO of Julius Baer, said: “Since January, we have made a lot of progress on multiple fronts aimed at strengthening our organisation and the trust of all our stakeholders. The last 20 weeks only reinforced my conviction in the uniqueness of this franchise, the high quality and commitment of our employees, as well as the significant underlying business potential.”

He added: “We now have a clear strategic agenda and priorities to capture future opportunities. I am excited as we embark on the next chapter of our transformation, and the team and I are fully committed to disciplined execution on our mid-term targets.”

Investor update
With the appointment of Stefan Bollinger as the new CEO in January 2025 and the election of Noel Quinn as Chair of the Board of Directors in May, Julius Baer today provides an update on the actions taken under the new leadership to address legacy issues and immediate pressure points. The Group further shares its strategic agenda and priorities, and a new set of financial targets for the upcoming three-year period commencing in 2026. The update will be presented to analysts and investors in London today. The presentation is available via www.juliusbaer.com/webcast.

Contacts

Media Relations, tel. +41 (0) 58 888 8888

Investor Relations, tel. +41 (0) 58 888 5256

About Julius Baer
Julius Baer is the leading Swiss wealth management group and a premium brand in this global sector, with a focus on servicing and advising sophisticated private clients. In all we do, we are inspired by our purpose: creating value beyond wealth. At the end of April 2025, assets under management amounted to CHF 467 billion. Bank Julius Baer & Co. Ltd., the renowned Swiss private bank with origins dating back to 1890, is the principal operating company of Julius Baer Group Ltd., whose shares are listed on the SIX Swiss Exchange (ticker symbol: BAER) and are included in the Swiss Leader Index (SLI), comprising the 30 largest and most liquid Swiss stocks.

Julius Baer is present in over 25 countries and around 60 locations. Headquartered in Zurich, we have offices in key locations including Bangkok, Dubai, Dublin, Frankfurt, Geneva, Hong Kong, London, Luxembourg, Madrid, Mexico City, Milan, Monaco, Mumbai, Santiago de Chile, Shanghai, Singapore, Tel Aviv, and Tokyo. Our client-centric approach, our objective advice based on the Julius Baer open product platform, our solid financial base, and our entrepreneurial management culture make us the international reference in wealth management.

For more information, visit our website at www.juliusbaer.com

Cautionary statement regarding forward-looking statements
This media release by Julius Baer Group Ltd. (‘the Company’) includes forward-looking statements that reflect the Company’s intentions, beliefs or current expectations and projections about the Company’s future results of operations, financial condition, liquidity, performance, prospects, strategies, opportunities and the industries in which it operates. Forward-looking statements involve all matters that are not historical facts. The Company has tried to identify those forward-looking statements by using the words ‘may’, ‘will’, ‘would’, ‘should’, ‘expect’, ‘intend’, ‘estimate’, ‘anticipate’, ‘project’, ‘believe’, ‘seek’, ‘plan’, ‘predict’, ‘continue’ and similar expressions. Such statements are made on the basis of assumptions and expectations which, although the Company believes them to be reasonable at this time, may prove to be erroneous.

These forward-looking statements are subject to risks, uncertainties and assumptions and other factors that could cause the Company’s actual results of operations, financial condition, liquidity, performance, prospects or opportunities, as well as those of the markets it serves or intends to serve, to differ materially from those expressed in, or suggested by, these forward-looking statements. Important factors that could cause those differences include, but are not limited to: changing business or other market conditions, legislative, fiscal and regulatory developments, general economic conditions in Switzerland, the European Union and elsewhere, and the Company’s ability to respond to trends in the financial services industry. Additional factors could cause actual results, performance or achievements to differ materially. In view of these uncertainties, readers are cautioned not to place undue reliance on these forward-looking statements. The Company and its subsidiaries, and their directors, officers, employees and advisors expressly disclaim any obligation or undertaking to release any update of or revisions to any forward-looking statements in this media release and any change in the Company’s expectations or any change in events, conditions or circumstances on which these forward-looking statements are based, except as required by applicable law or regulation.

Alternative Performance Measures
This Interim Management Statement and other communication to investors contain certain financial measures of historical and future performance and financial position that are not defined or specified by International Financial Reporting Standards (IFRS). Management believes that these alternative performance measures (APMs) provide useful information regarding the Group’s financial and operating performance. These APMs should be regarded as complementary information to, and not as a substitute for, the IFRS results.

Adjusted results are derived by excluding from the IFRS financial results the impact on operating income (new since 1 January 2025) or on operating expenses related to acquisitions or divestments of businesses or participations (i.e. M&A transactions) as well as the taxes on those respective items. The M&A-related adjustments can represent inter alia items such as gain or loss on disposal; recycling of currency translation adjustments; amortisation of acquired customer relationships; goodwill impairment charges; M&A-related restructuring costs (examples of which include employee termination benefits that relate directly to the restructuring; contract termination costs; onerous contract provisions; consulting fees that relate directly to the restructuring; expected costs from when operations cease until final disposal); fees paid to advisers on the planning, execution, or financing of M&A transactions; integration-related IT or other general expenses; additional provisions set up for litigation or the recovered amount from the seller.