✉️ What This Document Is

This filing is essentially a comprehensive package of invitations and proposal documents for Oculis Holding AG’s 2026 Annual General Meeting (AGM). 📅 It serves two main purposes: informing shareholders about the major strategic milestones reached in 2025, and asking for formal shareholder approval on key corporate governance items and financing moves needed for 2026 and beyond.

👉 Why it matters: Because the AGM asks for shareholders to vote on major financial proposals, such as increasing the company’s available capital or approving executive pay, the outcomes of this meeting will directly affect the company’s ability to fund its drug development plans.

🧬 Oculis: Focus on Neuro-Ophthalmology

Oculis is a global biopharmaceutical company, headquartered in Switzerland, with operations in the U.S. and Iceland. 🇨🇭 In simple terms, they are focused on developing breakthrough drugs to treat significant unmet medical needs in the specialized areas of neuro-ophthalmology (diseases involving the optic nerve) and general ophthalmology (eye care).

👉 The Goal: The company aims to become a global leader in treating eye and nerve disorders by developing drugs for conditions that currently lack effective treatment options.

🔬 The Three Core Clinical Programs

Oculis relies on a highly differentiated pipeline featuring three core, late-stage product candidates. Each program targets a specific, large market with a high unmet medical need. 💡

• OCS-01: An eye drop aiming to be the first non-invasive topical treatment for Diabetic Macular Edema (DME).
• Licaminlimab (OCS-02): A novel, topical anti-TNFα biologic being developed for Dry Eye Disease (DED) using a precision medicine approach.
• Privosegtor (OCS-05): A neuroprotective candidate designed to treat Optic Neuritis (ON) and Non-arteritic Anterior Ischemic Optic Neuropathy (NAION), with potential for broader neurological uses.

🌟 OCS-01: Addressing Diabetic Macular Edema (DME)

This section details OCS-01, which is a key focus because it aims to transform DME treatment from invasive procedures to a simple, topical eye drop. The drug is a 1.5% suspension of dexamethasone, delivered via a proprietary technology called OPTIREACH®. 👁️

• The Need: DME is a complication of diabetes, and the total U.S. prevalence of DME in 2024 was estimated at 3.0 million patients. Current treatments often require invasive methods (like intravitreal injections), and an estimated 1.3 million U.S. patients are addressable by OCS-01.
• The Innovation: OCS-01 uses OPTIREACH® technology, which enhances solubility and penetration, allowing the drug to reach the retina via an eye drop—a non-invasive, self-administered route.
• Progress & Results: The company completed enrollment in the two global pivotal Phase 3 trials (DIAMOND-1 and DIAMOND-2) with over 800 patients across 119 centers.
  • 👉 Topline results from both DIAMOND trials are expected in June 2026.
  • 👉 If positive, Oculis plans to submit a New Drug Application (NDA) to the U.S. FDA in Q4 2026.

🔬 Licaminlimab: Precision for Dry Eye Disease (DED)

Licaminlimab is an anti-TNFα eye drop poised to pioneer a new, highly targeted approach to Dry Eye Disease (DED). 🎯

• The Market: DED is a massive problem, estimated to impact more than 110 million people in G7 countries, with about 10 million patients in the U.S. having moderate to severe disease. Currently, DED treatment often relies on "trial and error."
• The Breakthrough: Licaminlimab is unique because the company is developing it with a genotype-based approach. This means they are identifying specific patients (those with a specific TNFR1 gene variant) who are most likely to benefit from the drug.
• Progress & Outlook:
  • Positive topline results from the Phase 2b RELIEF study were announced in June 2024.
  • The company initiated the registrational PREDICT-1 Phase 2/3 trial in Q4 2025.
  • 👉 Topline results from PREDICT-1 are anticipated around late 2026.

⚡️ Privosegtor: Neuroprotection for Optic Nerves

Privosegtor is the novel neuroprotective candidate, which has shown rapid acceleration in its development due to positive early results and strong regulatory support. 🛡️

• High Potential: The drug is designed to protect nerve tissue, making it relevant for conditions like Optic Neuritis (ON) and Non-arteritic Anterior Ischemic Optic Neuropathy (NAION), which are rare conditions with no approved neuroprotective treatments.
• Regulatory Boost: The positive Phase 2 ACUITY trial led to the FDA granting Breakthrough Therapy designation for ON, and the EMA granting PRIME designation (a fast-track assessment).
• The Strategy (PIONEER Program): Oculis launched the PIONEER registrational program, which involves three simultaneous pivotal trials (PIONEER-1, PIONEER-2, and PIONEER-3) in ON and NAION. Running them together is meant to create "operational synergies" and speed up development.
• Expansion Potential: The company plans to use Privosegtor for a second wave of development, specifically targeting Multiple Sclerosis (MS) relapses, by filing a new IND with the FDA in 2026.

🚀 2026 Milestones and Financial Strength

Oculis views 2026 as a pivotal year for generating major clinical and commercial milestones. 💪

• Key Milestones: The most anticipated results include the DIAMOND-1 and DIAMOND-2 readouts for OCS-01 in DME in June 2026, the PREDICT-1 results for Licaminlimab in DED in late 2026, and the initiation of the PIONEER program trials.
• Market Vision: The company estimates the total potential market opportunity across all three candidates (DME, DED, and Neuro-ophthalmology) to be over $30 billion.
• Financial Position: The company's financial position is supported by raising over $200 million through oversubscribed equity financings in 2025.

📋 Shareholder Information Session & AGM Details

Shareholders are being prepared for multiple events to discuss these milestones. 🗓️

• Shareholder Information Session: Management will host an information session on Monday, May 11, 2026, from 12:00–1:00 p.m. EDT / 4:00–5:00 p.m. GMT / 6:00–7:00 p.m. CEST. This is a chance for shareholders to hear an overview of the 2026 proposals and ask questions.
• Annual General Meeting (AGM): The official meeting is set for May 13, 2026, at Ochsen-Zug, Zug, Switzerland. The meeting will be held in-person and broadcast (no virtual participation option).

🧑‍⚖️ Governance: Approving 2025 Financials & Officers

The AGM requires shareholder votes on foundational corporate governance elements, ensuring the company is legally clean and properly governed. 🏛️

• Annual Report Approval: Shareholders must approve the Annual Report, including the 2025 statutory and consolidated financial statements. PricewaterhouseCoopers SA recommended approving these financials without qualification.
• Loss Carry Forward: The Board proposes to carry forward a balance sheet loss of CHF 80,247,000 to new accounts.
• Directors and Committees: The General Meeting will elect the Board of Directors and members of the Compensation Committee. Key names proposed for re-election include Anthony Rosenberg (Chairperson), Christina Ackermann, Lionel Carnot, and Gregory D. Perry.
• Independent Oversight: Shareholders must elect the statutory auditors (PricewaterhouseCoopers SA) and the independent proxy (Blum & Partner AG) for terms extending until the end of the 2027 AGM.

💰 Compensation and Capital Funding Proposals

These sections deal with the financial framework of the company, determining how much money can be used to fund growth and how it can raise capital. 💵

• Compensation Approvals: The Board proposes maximum compensation caps for both non-executive members and the Executive Committee for 2027.
  • For Non-Executive Members, the maximum fixed compensation is USD 572,000, and the maximum equity compensation is USD 2,150,000.
  • For the Executive Committee, the total proposed maximum compensation for 2027 (fixed, variable, and equity-based) is significant, notably including up to USD 18,000,000 in potential equity-linked instruments.
• Increasing Capital Flexibility (Capital Band): The Board proposes increasing and amending the company's capital band to range between CHF 620'417.76 (lower limit) and CHF 930'626.64 (upper limit). This aims to give the company financial flexibility to advance drug development initiatives.
• Employee Incentive Pool (Conditional Capital): Separately, the company proposes increasing the conditional share capital for employee benefit plans to a maximum of CHF 126’777.00, allowing the company to use equity compensation to align employee incentives with long-term shareholder value.

📞 Next Steps and Contacts

Need to attend the meeting, vote, or learn more? Everything is organized here. 🧭

• Shareholder Information Session: Monday, May 11, 2026. Register here: https://reg.lumiengage.com/oculis-agm-2026/informationsession.
• AGM Meeting: May 13, 2026, at Ochsen-Zug, Zug, Switzerland.
• Virtual Broadcast Link: https://meetings.lumiconnect.com/100-352-684-319.
• Investor Relations Contacts:
  • CFO: Ms. Sylvia Cheung, [email protected]
  • Investor Relations: LifeSci Advisors, Corey Davis, Ph.D. [email protected]
  • Media Relations: ICR Healthcare, Amber Fennell / David Daley / Sean Leous [email protected]

🧠 The Analogy

Think of Oculis like a deep-sea exploration submersible. 🌊 The technology (like the OPTIREACH® eye drop) is the highly advanced, custom-built equipment that allows them to reach deep, previously inaccessible areas (the retina). The three clinical programs (OCS-01, Licaminlimab, Privosegtor) are three powerful, specialized scientific tools. The whole strategy is to use these different tools—each for a different medical "depth" (DME, DED, ON)—to explore vast, complex unmet needs in the eye and brain, turning scientific potential into marketable, life-changing treatments.

🧩 Final Takeaway

Oculis is executing a high-stakes, multi-front strategy targeting global eye and nerve disorders. Success hinges on achieving key clinical readouts (especially for OCS-01 and Licaminlimab) and the general meeting approving capital raises, which will provide the necessary fuel for the final push toward commercialization.