Arundel : Press Release - Update on AGM

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Arundel AG

Gotthardstrasse 21,

CH-8002 Zürich,

Switzerland

www.arundel-ag.com

PRESS RELEASE

(Ad Hoc Announcement Pursuant to Article 53 of the Listing Rules of the SIX Swiss Exchange)

6 May 2024

UPDATE ON ANNUAL GENERAL MEETING

The Board of Directors of Arundel AG ("Arundel" or the "Company") is pleased to announce that its upcoming Annual General Meeting will be held on 29 May 2024. At the meeting, it will propose to the Company's shareholders the following matters:

1. Approval of the directors' report for the financial year 2023 and the financial statements of the company and the group as of 31 December 2023
2. Appropriation of the balance sheet result
3. Granting of discharge to the members of the board of directors and of executive management
4. Votes on compensation
5. Elections regarding the board of directors
6. Election of the auditor
7. Election of the independent proxy
8. Reduction of share capital
9. Revisions to the articles of incorporation
10. Delisting of shares

As announced in Arundel's press release dated 29 April 2024, the Board of Directors proposes to the shareholders, inter alia, to approve the delisting of the Company's registered shares from the SIX Swiss Exchange (agenda item 10), as part of its strategy to further reduce operational expenses. It also proposes various resolutions concerning the Company's share capital (under agenda items 8 and 9), including a reduction of share capital by way of reducing the nominal value of each registered share from CHF 1.00 to CHF 0.01, in order mainly to off-set accumulated losses; an increase of the Company's conditional share capital for financing instruments to an amount equalling 50% of the Company's issued share capital; and the replacement of the Company's existing authorized share capital - which expires on 31 May 2024 - by a capital band permitting the Board of Directors to increase or reduce the issued share capital within a range of 50% to 150% of its current amount (after the reduction proposed under agenda item 8). Finally, the Board of Directors proposes to the Annual General Meeting to effect various additional revisions to the Company's articles of incorporation, related principally to the 2020/23 revision of Swiss company law (agenda item 9), and further revisions conditional upon the aforementioned delisting of its shares (agenda item 10).

If approved by the shareholders, the delisting of the Company's shares from the SIX Swiss Exchange will be applied for after the Annual General Meeting and is expected to occur later in 2024.

The invitation to the Annual General Meeting of 29 May 2024 is available on the Company's website. It will be published in the Swiss Official Commercial Gazette on or about 7 May 2024 and sent by mail to all shareholders registered with voting rights on the Company's share register.

Please order a proxy form for written and/or electronic proxy instructions from 15 May 2024 by telephone (phone number: +44 (0) 7824 311753 (Attn: Sian Morgan)), via e‐mail to info@arundel‐ ag.com, or by mail (Arundel AG, Gotthardstrasse 21, CH‐8002 Zurich).

Arundel AG

David Quint (Chairman)

Further information:

Ralph Beney

Ad hoc publicity info@arundel-ag.comPhone: +44 7788 107566

Further information concerning the Company is also available from the Company's website at www.arundel-ag.com.

SIX Swiss Exchange - symbol ARON, security number 2217.101, ISIN CH0002271010

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