PRESS RELEASE | LEONTEQ AND GLARNER KANTONALBANK ANNOUNCE COOPERATION

Zurich, 10 May 2021

Leonteq AG (SIX: LEON) and Glarner Kantonalbank (GLKB) have reached a cooperation agreement for the marketing, distribution and administration of innovative private pension savings solutions.

Under the terms of the cooperation agreement, private pension investors in Switzerland are to be offered savings and investment solutions. In the context of the partnership between the two companies, Leonteq will act as the service and technology partner, while GLKB will contribute its extensive expertise in the areas of banking and digitalization.

The products will be administered on Leonteq's newly developed technology platform and digitally marketed via a new third-party company. Leonteq and GLKB will each hold 50% of the shares in that company once it is established.

Leonteq has worked with GLKB to develop a purely digital, innovative savings product that offers private pension investors the combination of a guarantee and an upside potential, as opposed to ongoing interest payments. This first joint product is expected to be launched by the end of 2021.

In this context, Leonteq's Insurance & Wealth Planning Solutions (IWPS) business unit has created a new digital platform, SIGMA, for its partnership with banks in the area of savings solutions based on the existing platform for insurance companies. The SIGMA platform will make it possible to offer and administer savings products of this kind on an automated and scalable basis. In addition, Leonteq will operate a mobile app and a related website with easy navigation and digital onboarding.

Lukas Ruflin, CEO of Leonteq, stated: "After many years of development work, we are very pleased to expand our savings concept and the related technology from the insurance business in order to now incorporate innovative banking products. With Glarner Kantonalbank, a digital pioneer in the Swiss financial market, we have found the ideal partner to support these efforts."

Sven Wiederkehr, CEO of Glarner Kantonalbank, stated: "Offering digital banking products - and thus meeting current and future client needs - is an integral part of GLKB's strategy. With Leonteq as a service and technology partner, we can further intensify these activities with a focus on specific offerings. Our two companies ideally complement each other in terms of our expertise in this area, creating considerable potential synergies."

Leonteq and GLKB are convinced that in the area of voluntary retirement savings, there is a genuine need among many bank clients for products with a guarantee component and upside potential. The cooperation agreed by Leonteq and GLKB will allow them to jointly meet this need.

Glarner Kantonalbank was founded in 1884 and has strong roots in the Canton of Glarus. As a universal bank, it focuses on the mortgage and savings businesses as well as on asset management and the investment business. Glarner Kantonalbank has been listed on the Swiss Stock Exchange since 2014 and reported total assets of CHF 7.0 billion at the end of 2020, as well as a Total Capital Ratio of 18.16%. It has an AA credit rating from Standard & Poor's and a state guarantee from the Canton of Glarus.

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LEONTEQ
Leonteq is a Swiss company active in the finance and technology sector with a focus on the structured investment solutions segment. Based on proprietary modern technology, the company offers derivative investment products and services and predominantly covers the capital protection, yield enhancement and participation product classes. Leonteq acts as both a direct issuer of its own products and as a partner to other financial institutions. Leonteq further enables life insurance companies and banks to produce capital-efficient, unit-linked pension products with guarantees. The company has offices and subsidiaries in 12 countries, through which it serves over 50 markets. Leonteq AG is listed on the SIX Swiss Exchange (SIX: LEON). www.leonteq.com

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