Positive first half year for Andermatt Swiss Alps. Property sales at a sustained high level.

The two hotels The Chedi Andermatt and Radisson Blu Reussen as well as the SkiArena Andermatt-Sedrun were able to increase their guest numbers thanks to high domestic demand. Property sales have settled at a high level and are reflected in the high level of construction activity.

Despite the closure of mountain railways and hotels after 13 March, the Andermatt Swiss Alps Group can look back on a positive first half year. From mid-May, operations were gradually able to be re- sumed. The destination benefits from the fact that Swiss people spend their holidays in their own country. Numerous measures were implemented on the cost side. Andermatt proved to be the most efficient destination within the Orascom Group.

In the Business Area Hotels The Chedi Andermatt recorded a significant year-on-year increase in overnight stays and the highest occupancy rate ever. The Radisson Blu Reussen hotel, which is geared to groups and events, largely made up for this lack of business with individual guests.

In the Business Area Town Experience, the Andermatt Golf Course saw an increase of 50 percent in the number of green fees paid by the end of July compared with the previous year. New experiences are being created constantly for guests in Andermatt Reuss in the shape of events and offers.

The Business Area Mountain Experience with the SkiArena Andermatt-Sedrun may achieve a positive operative result despite a loss of turnover as a consequence of the closure on 14 March. The number of summer guests increased by 35 % up to the end of July in comparison with the previous year.

To enable the Group to satisfy the ongoing high demand for holiday properties, four buildings are un- der construction in the Business Area Real Estate: Enzian and Arve, plus the latest two projects Frame and Alma. A further two buildings are also being constructed – the Turmfalke Suites.

The Apartment House Frame is consistently geared towards a sophisticated young target group with 1-bedroom apartments and duplex studios. Just three weeks after its market launch, over 60 percent of the apartments had been sold. The architecture firm OOS, Zurich, is responsible for the architec- ture.

The Apartment House Alma (market launch August 24th) offers people the opportunity to acquire an apartment in an exclusive location right by the River Reuss. All apartments have extraordinary panoramic windows with views of the Reuss and the surrounding, mystical mountain landscape. Alma offers ten spacious apartments, each of which covers half a storey, and a top-class penthouse apartment. The building was designed by Herzog Architekten, Zurich, and Nicole Deiss. Both buildings are being realised by S+B Baumanagement AG, Steinhausen-Zug.