2. Statutory capital reserves and retained earnings

At the extraordinary general meeting held in Zug on 2 December 2024, the shareholders of Precious Woods Holding Ltd approved the ordinary capital increase proposed by the Board of Directors. Interest-bearing and non-interest-bearing liabilities against Shareholders in the amount of CHF 43.5 million were converted into equity.

In the current fiscal year, the agio contributed as part of the capital increase was used to offset existing losses and retained earning. The requirements for full exemption from emission tax have been met.