Temenos announces appointment of independent third parties

Press Releases, February 26, 2024

Temenos – Company

Ad hoc announcement pursuant to Art. 53 LR

GENEVA, Switzerland, February 26, 2024 – Temenos AG (SIX: TEMN), the banking software company, today announces the Board of Temenos has formed a Special Committee led by the Non-Executive Chairman, Thibault de Tersant. While the Board believes Temenos is running a sound business with robust financial controls, the Special Committee will oversee the previously announced examination of the allegations raised in the report published by Hindenburg Research (“Report”).

To assist in the examination, the Board has retained the services of Alvarez & Marsal, a leading global professional services firm, with expertise in forensic accounting and investigations, Schellenberg Wittmer as Swiss counsel and Sullivan & Cromwell as US counsel.

Thibault de Tersant, Non-Executive Chairman of the Board and Special Committee said:

“Trust in our business for all stakeholders is paramount and it is our fiduciary duty to provide a thorough robust examination of all allegations raised. We have therefore appointed leading independent third parties to assist us.”