On Releases Its 2021 Impact Progress Report

Rhea-AI Summary

On Holding AG (NYSE: ONON) released its 2021 Impact Progress Report, highlighting significant advances in sustainability initiatives. Key achievements include the launch of the first fully recyclable running shoe through the Cyclon program and a commitment to reduce emissions per unit of value-added by 55% by 2030. By the end of 2021, 53% of polyester and 63% of polyamide used were recycled, with 95% of cotton sourced sustainably. On also aims to enhance social impact through its 'Right to Run' program, partnering with 17 organizations to foster community engagement.

Positive

• Delivered the first fully recyclable subscription-based running shoe.
• On track to reduce emissions per unit of value-added by 55% by 2030.
• Increased recycled materials usage: 53% polyester and 63% polyamide recycled by end of 2021.

Negative

• None.

ZURICH--(BUSINESS WIRE)-- On Holding AG (NYSE: ONON) (“On,” “On Holding AG,” the “Company,” “we,” “our,” “ours,” or “us”), released its 2021 Impact Progress Report, providing a comprehensive view of its approach to, and progress on its sustainability initiatives across the Company.

Caspar Coppetti, Co-Founder and Executive Co-Chairman of On, said: “We envision a future where every On product is fossil-free, and is returned to us so that the materials can be reused, recycled or repurposed. We have made it our environmental mission to make high-performance products with the lowest possible footprint, that are also engineered for circularity. Our approach is to discover, apply, scale and do it fast, working with the right partners in a team approach to accelerate results. We are constantly lowering our footprint through smarter design, as well as applying low-impact materials and manufacturing processes. Just a few weeks ago, our very first community of Cyclon subscribers in the US received their first subscription-based and fully recyclable shoe, the Cloudneo. This very special launch provided a further step towards our sustainability mission, and we are looking forward to sharing many more innovations in the future. On Social Impact, we strive to make diversity and inclusion second nature; a habit infused in the way we live, which positively impacts the world around us.”

Key highlights in the priority areas include:

• On is taking big strides on its sustainability mission, having delivered the first fully recyclable subscription-based running shoe to early subscribers of On’s Cyclon program.
• On is on target to reach its goal by 2030 to reduce its emissions per unit of value-added in scope 3 by 55%, which account for 99% of On’s total impact.
• On constantly increases the use of recycled materials. At the end of 2021, 53% of the polyester and 63% of the polyamide used was recycled, and 95% of the cotton used was organic, recycled or petrol-free.
• On partners with Carbios and other industry partners to accelerate the introduction of a new fiber-to-fiber technology for textiles. In addition, On joined the Sustainable Apparel Coalition to collaborate with like-minded brands, and to streamline requests to suppliers using industry-common tools such as the Higg Facility Environment Module.
• On launched Right to run in 2021, a social impact partnerships program bringing together grassroots communities and organizations making an impact in the realms of safety, access, awareness, and inclusion, in running and movement. On is now partner with 17 organizations globally and has reached 43,000 community members, aiming to 100,000 by the end of 2022.

On’s full year 2021 Impact Progress Report is available for download here.

High-res images available for download here.

About On

On was born in the Swiss Alps with one goal: to revolutionize the sensation of running by empowering all to run on clouds. Twelve years after market launch, On delivers industry-disrupting innovation in premium footwear, apparel, and accessories for high-performance running, outdoor, and all-day activities. Fueled by customer-recommendation, On’s award-winning CloudTec® innovation, purposeful design and groundbreaking strides in sportswear’s circular economy have attracted a fast-growing global fanbase — inspiring humans to explore, discover and dream on.

On is present in more than 60 countries globally and engages with a digital community on www.on-running.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. Other than statements of historical facts, all statements which address activities, events, or developments that On Holding AG. anticipates will or may occur in the future, including, but not limited to, such things as future capital expenditures, expansion, strategic plans, financial objectives, growth of On Holding AG’s business and operations, including future cash flows, revenues, and earnings, and other such matters, are forward-looking statements. These forward-looking statements are based on many assumptions and factors which are detailed in On Holding AG's filings with the U.S. Securities and Exchange Commission.

These forward-looking statements are based largely on our expectations and judgments and are subject to a number of risks and uncertainties, many of which are unforeseeable and beyond our control. For additional discussion on risks and uncertainties that may affect forward-looking statements, see "Risk Factors" disclosed in On Holding AG's Annual Report on Form 20-F for the year ended December 31, 2021, filed on March 18, 2022. Any changes in such assumptions or factors could produce significantly different results. On Holding AG undertakes no obligation to update forward-looking statements, whether as a result of new information, future events, or otherwise.

Source: On
Category: Corporate

View source version on businesswire.com: https://www.businesswire.com/news/home/20220829005389/en/

For investor and media inquiries

Investor Contact:

On Holding AG

Jerrit Peter

investorrelations@on-running.com

or

ICR, Inc.

Brendon Frey

brendon.frey@icrinc.com

Media Contact:

On Holding AG

Vesna Stimac

press@on-running.com

Source: On