As announced on August 15, 2007, Sonova intends to repurchase up to 10% of its outstanding shares over the next three years. The program starts on September 20, 2007 and will end September 20, 2010, the latest.

The share buy-back program allows Sonova to return its cash not used for operations and
funds generated from future free cash flows to its shareholders. Due to the solid financial position of Sonova, this share buy-back program will not impact the financial flexibility for further internal and external expansion.

The aim of the share buy-back is to reduce equity by cancelling the repurchased shares. A proposal to reduce equity will be yearly submitted to the General Meeting.

The share buy-back program will be executed via a second trading line on SIX, on which Sonova acts as exclusive buyer. Shareholders who wish to sell Sonova registered shares may do so via the second trading line or the first one. Shares sold via the second trading line are subject to federal withholding tax of 35%, based on the difference between the repurchase price and the nominal value of CHF 0.05.

The Credit Suisse Group is the principal record keeping transfer agent.

The cancellation of 1,395,000 shares with a par value of CHF 0.05 each, which were repurchased in the period from September 20, 2007 to April 25, 2008 pursuant to the share buy-back program, was approved at the Annual General Shareholders' Meeting of June 11, 2008. Therefore, the share capital was reduced per September 16, 2008 by CHF 69,750.00 from CHF 3,372,575.30 to CHF 3,302,825.30.

Please find below a weekly summary covering the total number of shares repurchased via the second trading line and the repurchase amount in CHF as well as the average price paid per share.

Share buy-back program