2025 was a pivotal year of growth for Maverix Securities AG. Building on a strong foundation, we further sharpened our market positioning, expanded our international footprint, and significantly enhanced the technological and product capabilities of our platform.

For you, this means broader market access, greater scalability, and a clearly differentiated offering that delivers tangible added value.

Switzerland as a solid foundation
In our Swiss home market, we significantly expanded our presence across all three language regions. Romandie in particular recorded strong growth and once again proved to be an important and reliable earnings driver, while intensified activities in Lugano further deepened client relationships and meaningfully strengthened revenue momentum.

This strong regional anchoring brings us closer to you and forms a robust foundation for further scalable growth in Switzerland.

International positioning strategically expanded
At the same time, we consistently scaled our international presence and successfully entered new growth markets:

• Asia: The strategic partnership with SBI Digital Markets significantly accelerated transaction volumes and confirms the strong attractiveness of our platform for institutional partners in Singapore, Hong Kong and Thailand.
• France: With the new location in Paris and a local sales team, we are now operationally present in one of Europe’s most dynamic markets. Initial transactions confirm the market relevance of our offering and provide a strong foundation for scalable growth.
• MEA region: Expansion in the Middle East continues to gain momentum. Both the client base and transaction activity increased significantly.
• Central and Eastern Europe: Through the targeted expansion of our sales team, we successfully entered one of the most important regions for structured products at the end of 2025.
• Latin America: By establishing a new sales team, we are creating the operational foundation for market entry in 2026 and the targeted development of this growth market.

Platform and product development with clear client benefits
In 2025, we reached several key milestones at both product and platform level. Total assets on our issuance platform surpassed the important threshold of USD 1 billion, while the number of products issued to date has now exceeded 500. Our continued focus remains on actively managed certificates (AMCs), which we issue both in-house and in cooperation with selected partners.

With the relaunch of our AMC platform (“MyAMC”) in early 2026 – including a new look and feel and a modern order management system – we are delivering additional efficiency, transparency and ease of use for you.

Digital Assets: from ambition to leadership
2025 marked a breakthrough year for Maverix in the field of digital assets. With GSR as a strategic partner and shareholder, we deliberately accelerated our capabilities, reach and credibility in structured and tokenised assets. GSR’s investment represents a strong vote of confidence – and a catalyst for further growth.

Our innovation was also externally recognised: the ETP on the Smart All World Index received the Newcomer Award at the Swiss ETF Awards. In parallel, we consistently expanded our alternative investment offering – from tokenised Bordeaux wine to private credit–linked notes for selected real estate projects. Tailor-made solutions across asset classes remain a key differentiator of our platform.

Growth that endures – profitability that delivers
Business development in 2025 was clearly geared towards growth, with strong momentum in the second half of the year. In the fourth quarter, Maverix achieved profitability for the first time – a milestone that convincingly demonstrates the scalability and economic strength of our business model.

We thank you for your trust and close partnership. With a clear focus and an entrepreneurial mindset, we will continue to develop Maverix consistently – Always Ahead.

Outlook 2026: scaling across all dimensions
2026 will be defined by scale. We will continue to expand our regional footprint, enter new markets, and selectively pursue white-label partnerships to establish our issuance platform as an international institutional infrastructure.

At the same time, we are accelerating the end-to-end automation of our processes – driving higher efficiency, faster time-to-market and maximum scalability. On the product side, our focus is on further expanding the ETP business as well as tokenised assets and crypto strategies – precisely where demand is growing most strongly.

With this clear agenda, Maverix is well positioned to achieve above-average growth in 2026 and to create sustainable value for you and our partners.

David Schmid & Giuliano Glocker
Co-CEOs, Maverix Securities AG