Zurich, 28 March 2025 – Following the signing of an agreement to sell Julius Baer Brasil Gestão de Patrimônio e Consultoria de Valores Mobiliários Ltda. (Julius Baer Brazil) to Banco BTG Pactual S.A. (BTG) on 7 January 2025, all pre-closing steps were efficiently and successfully completed, and regulatory approvals received to execute the sale as envisaged.

The transaction is approximately 30-40 bps accretive to Julius Baer’s CET1 capital ratio and expected to result in a one-off impact to operating income of approximately CHF 100 million, mainly resulting from non-cash cumulative currency translation adjustments already recognised in the Group’s equity.

As per closing date 28 March 2025, Julius Baer Brazil has been deconsolidated from Julius Baer Group. Julius Baer will continue to service Brazilian clients out of other locations and as such, remains committed to its Brazil International business and its broader wealth management activities in Latin America.