| | | | | | | | | Description | | Fair value at
December 31, 2025 | | Unobservable inputs | | Range of
inputs | | Relation of unobservable
inputs to fair value | | | | | | | | | | Preferred shares (Stalicla SA) | | 285,962 | | (1) | | CHF 17-CHF 30 | | (2) | Phantom shares (Stalicla SA) | | 285,962 | | Underlying Stalicla’s share price used in Black- Scholes valuation model, determined by the price paid by external investors. The fair value of phantom shares is capped at the fair value of preferred shares | | CHF 17 | | A 10% increase or decrease in Stalicla’s underlying share price would increase or decrease the fair value for respectively CHF 39,682 and CHF 36,138. In both cases the fair value would remained capped at the fair value of preferred shares. | Anti-dilution protection (Stalicla SA) | | 102,547 | | Sale price of Stalicla’ shares used in the different scenarios in binomial valuation model | | CHF 17 -CHF30 | | A 10% increase or decrease in the sale price of Stalicla’ shares under the scenario used in the binomial valuation model, would increase or decrease the fair value for respectively CHF 25,064 and CHF 18,949. | Warrants (Stalicla SA) | | 60,547 | | Underlying Stalicla’s share price used in Black- Scholes valuation model, determined by the price paid by external investors | | CHF 17 | | A 10% increase or decrease in Stalicla’s underlying share price would increase or decrease the fair value for respectively CHF 15,673 and CHF 12,791 | Warrants (Stalicla SA) | | 60,011 | | Underlying Stalicla’s share price used in Black- Scholes valuation model, determined by the price paid by external investors | | CHF 17 | | A 10% increase or decrease in Stalicla’s underlying share price would increase or decrease the fair value for respectively CHF 6,091 and CHF 5,538 |
(1)The fair value of the preferred shares was determined as the residual amount between the subscription price of CHF 795,029 and the fair value of the derivative financial instruments measured using Black-Scholes and binomial valuation models. The fair value of the phantom shares was capped at the fair value of the preferred shares. (2)An increase or decrease of 10% in Stalicla’s underlying share price used to calculate the fair value of the anti-dilution protection through ratchet mechanism and warrants would conduct to a decreased or increased fair value of respectively CHF 21,697 and CHF 20,357.
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