Ad hoc announcement pursuant to Art. 53 LR

Zurich - After a successful 15-year partnership, Cembra and Migros will terminate their cooperation agreement for the Cumulus-Mastercard credit card as of June 2022. For strategic reasons, the Federation of Migros Cooperatives (Migros-Genossenschafts-Bund) has decided to issue a proprietary credit card via Migros Bank in future.

No changes for customers until their card expires
Nothing will change for Cembra customers with a Cumulus-Mastercard credit card, until their card expires. They will be able to continue using it as before, with the same terms and benefits.

Cembra plans to introduce an attractive successor product
Starting in mid-2022, Cembra will offer a simple and attractive replacement for the more than 850,000 Cumulus-Mastercard credit cards issued. The successor product will be consistently geared towards today's customer needs, attractively priced and combined with innovative services. In addition, Cembra is constantly expanding its portfolio of products and partnerships and exploring alternative growth opportunities.

Mid-term targets confirmed - strong capital base ensures sustainable dividend policy
Taking these measures into account, Cembra confirms its outlook for the current year and its mid-term targets.¹ From 2022 on, Cembra also expects that the termination of the partnership will temporarily lead to a decline of 10%-15% in net profit relative to the bank's plan; but Cembra expects to be able to compensate for this in the medium term through appropriate measures. Thanks to Cembra's strong capital base and flexible capital management, its sustainable dividend policy will continue to be ensured.

Holger Laubenthal, CEO of Cembra, commented: "The Cumulus-Mastercard has set standards in many respects. We are proud of what we have achieved in these 15 years together with Migros. We see this situation as an incentive to become even better and even more innovative. It's not only our existing customers who will benefit from these measures and our strong position in the credit card business, but our new credit card business partners too.'

¹ Mid-term targets: Return on equity >15%, Tier 1 capital ratio of at least 17%, dividend payout ratio of 60-70%

About Cembra Money Bank
Cembra is a leading Swiss provider of financing solutions and services. Our product range includes consumer credit products such as personal loans and auto leases and loans, credit cards, the insurance sold in this context, invoice financing, and deposits and savings products.

We have over 1 million customers in Switzerland and employ more than 1,000 people from 41 different countries. We have our headquarters in Zurich and operate across Switzerland through our network of branches and our online distribution channels, as well as our credit card partners, independent intermediaries and car dealers.

We have been listed as an independent Swiss bank on the SIX Swiss Exchange since October 2013. Cembra is rated A- by Standard & Poor's and is included in the SXI Switzerland Sustainability 25 Index and in the 2021 Bloomberg Gender Equality Index.