Swiss Prime Site announces the conversion price of its CHF 350 million green convertible bonds due 2032 and the outcome of the incentivized conversion invitation

PRESS RELEASE

Zug, 05 March 2026

• The Bonds will have a conversion price of CHF 179.56, based on a premium of 24.0% over CHF 144.81, which is the average of the volume weighted average prices of Swiss Prime Site shares during a reference period following the placement.

• In the context of the concurrent incentivized conversion invitation on the outstanding convertible loan notes issued in 2023 as well as before this invitation, Swiss Prime Site received conversion notices for an aggregate nominal amount of CHF 252 million, representing 92% of the loan notes. 

Following the two press releases published on 26 February 2026, Swiss Prime Site AG («Swiss Prime Site») announces that the reference share price in relation to the issuance of CHF 350 million senior unsecured green convertible bonds due 2032 (the «Bonds»), convertible into registered shares of Swiss Prime Site (the «Shares»), has been set at CHF 144.81, being the arithmetic average of the volume weighted average prices of the Shares on each of the four trading days between 26 February 2026 (included) and 3 March 2026 (included).

As announced on 26 February 2026, the conversion premium was set at 24.0%, which results in an initial conversion price of the Bonds of CHF 179.56 per Share. Such conversion price is subject to customary adjustments in accordance with the terms and conditions of the Bonds.

In a separate but concurrent transaction, Swiss Prime Site had sent an incentivized conversion invitation to ELM B.V., to which it issued CHF 275 million in convertible loan notes in 2023 (the «Loan Notes»). In the context of such invitation as well as before, Swiss Prime Site received conversion notices for an aggregate nominal amount of CHF 252 million, representing 92% of the Loan Notes. The conversions will be settled in cash and no new shares will be issued.

With now less than 15% of the aggregate principal amount of the Loan Notes originally issued outstanding, Swiss Prime Site intends to redeem such outstanding Loan Notes in accordance with the terms of the Loan Notes at their principal amount together with accrued but unpaid interest.

If you have any questions, please contact:
 
Investor Relations, Florian Hauber
Tel. +41 58 317 17 64, florian.hauber@sps.swiss

Media Relations, Patrick Friedli
Tel. +41 58 317 17 75, patrick.friedli@sps.swiss