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Zurich, November 6, 2023 - CAT Financial Products AG (CATFP) comments on the information regarding an alleged investment in ARX Financial Engineering Limited (ARX), which was added to the US sanctions list last week due to possible Russian transactions: CATFP has no shareholding in ARX, nor is it represented on ARX's Board of Directors.

The shareholding in ARX is held by CAT Financial Group AG (CATFG), an independent holding company that holds a minority stake in ARX and a small stake in CATFP. CAT Financial Group AG is therefore not the parent company of CAT Financial Products AG. This distinction is crucial for understanding the operating and decision-making structures within the CAT Group.

CATFG's investment in ARX was acquired with the aim of expanding its business with financial products in the Dubai financial center and the Middle East. This gave CATFG the opportunity to participate in this market without being operationally active there itself.

Giuliano Glocker, co-owner of CAT Financial Group AG, was the CATFG representative on the Board of Directors of ARX as non-executive director. Accordingly, Giuliano Glocker has voluntarily resigned from his position on the Board of Directors of ARX with immediate effect.

The CAT Group is subject to consolidated supervision by the Swiss Financial Market Supervisory Authority FINMA. ARX is not part of the scope of consolidation of the CAT Group. The other shareholders of ARX are independent and there are no other business relationships with the shareholders of CAT Financial Products AG, CAT Wealth Management AG and CAT Financial Group AG.

Shareholding structure of CAT Financial Group AG