Dr. Ingo Mantzke and Expulsion from the Investment Committee of Swiss Merchant Group AG

Swiss Merchant Group AG ("SMG") has formally addressed issues regarding Dr. Ingo Mantzke, clarifying his role and expulsion from the organization. Contrary to previous claims, Dr. Ingo Mantzke was never elected as "Head of an Investment Committee" by the Board of Directors of SMG.

The Investment Committee responsibilities have been managed by the Board of Directors for the past decade. Dr. Mantzke participated as an advisor in various SMG projects from 2021 to 2024, but did not attend investment committee meetings nor was involved in finalizing any projects during that period. He was not granted discharge for his tenure.

SMG, adhering to high corporate governance standards, dissolved its relationship with Dr. Mantzke in May 2024. Additionally, Dr. Mantzke has no economic affiliations or shares in the Mantzke Family Office in Kastanienbaum, Switzerland. By the end of May 2024, he was removed from all management presentations and websites. The Board expresses appreciation for Dr. Mantzke’s relationships and wishes him health and success.