Ad hoc announcement pursuant to Art. 53 LR

Acquisition brings together two highly complementary, science-backed skincare brands
ZO Skin Health’s premium daily multi-step regimens complement Alastin’s regenerative skincare portfolio primarily focused on peri-procedure support
Transaction expands Galderma’s Dermatological Skincare portfolio and offering in the attractive, fast-growing physician-dispensed skincare segment1
Galderma’s unique Integrated Dermatology Strategy, global scale and omni-channel execution capabilities expected to support ZO Skin Health’s next phase of growth
Acquisition of 100% of ZO Skin Health for an enterprise value of 1.5 billion USD, expected to be Core EPS neutral in the first full year following closing

ZUG, Switzerland & IRVINE, Calif.--(BUSINESS WIRE)--Galderma (SIX: GALD) today announced that it has signed an agreement to acquire ZO® Skin Health, a leading physician-dispensed skincare brand built on clinical science and protocol-based daily care, from its shareholders, including funds managed by Blackstone Tactical Opportunities (“Blackstone”) and the Obagi family.

Founded by dermatologist Dr. Zein Obagi and headquartered in Irvine, California, ZO Skin Health has been a reference name in clinically-backed professional skincare for more than two decades. Its broad product portfolio, spanning over 40 products, is manufactured in the U.S. and sold through a network of more than 16,500 physician, medical spa and online accounts across more than 40 countries, supported by a dedicated salesforce and skincare education team. ZO Skin Health recorded net sales of approximately 330 million USD in the last twelve months as of June 2026.