Share buyback programmes

On 2 December 2024, the Board of Directors of Swiss Life Holding Ltd (“Swiss Life” or the “Company”) approved the repurchase of registered treasury shares with a par value of CHF 0.10 each (the “Swiss Life Shares”) up to a maximum acquisition value of CHF 750 million as part of a share buyback programme for a reduction in share capital (the “Programme”).

The Programme, which was announced on 3 December 2024, started on 9 December 2024 and was completed on 29 May 2026, after 910 273 shares for a total of CHF 750 million were repurchased. Repurchases of Swiss Life Shares for the purpose of a later capital reduction were carried out on a second trading line on the SIX Swiss Exchange, with Swiss Life as the exclusive buyer, delegated to Zürcher Kantonalbank acting as agent*. 

Shareholders wishing to sell Swiss Life Shares could do so either via the ordinary trading line or via the second trading line. The repurchase of own shares with the purpose of capital reduction was treated as a partial liquidation of the repurchasing company for both federal withholding tax and income tax purposes.

These statements do not constitute a comprehensive description of possible tax consequences nor do they qualify as tax advice. Shareholders are advised to consult their own tax advisor regarding the tax consequences of participating in the Programme.

* The 194 537 registered shares bought back between 9 December 2024 and 14 March 2025 have been cancelled by end of June 2025 in accordance with the AGM resolution dated 14 May 2025. The 582 142 registered shares bought back between 15 March 2025 and 9 March 2026 will be cancelled by end June 2026 in accordance with the AGM resolution dated 7 May 2026. The cancellation of the 133 594 registered shares bought back between 10 March 2026 and 29 May 2026 will be put to a vote at the AGM on 11 May 2027.

Further information on the buyback programme can be found in the official publications in German and French:

Maximum daily repurchase volume (calculated in accordance with Art. 123 Abs. 1 lit. c FMIO):
Swiss Life is limited to repurchasing a maximum of 18 763 shares per day.