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            <ns2:liveTestFlag>LIVE</ns2:liveTestFlag>



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                <com:street1>Forrlibuckstrasse 190</com:street1>
                <com:city>Zurich</com:city>
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            <ns2:nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>Alexandre Jose Da Costa Perez</ns2:nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>
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                    <com:city>New York</com:city>
                    <com:stateOrCountry>NY</com:stateOrCountry>
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            <ns2:securitiesExchangeName>NYSE</ns2:securitiesExchangeName>
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            <ns2:nameOfPersonfromWhomAcquired>Point Break Capital LP</ns2:nameOfPersonfromWhomAcquired>
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            <ns2:paymentDate>12/20/2021</ns2:paymentDate>
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            <ns2:securitiesClassTitle>Class A Common Stock</ns2:securitiesClassTitle>
            <ns2:saleDate>03/05/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>48797</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>1612526.14</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Alexandre Jose Da Costa Perez</ns2:name>
                <ns2:address>
                    <com:street1>Forrlibuckstrasse 190</com:street1>
                    <com:city>Zurich</com:city>
                    <com:stateOrCountry>V8</com:stateOrCountry>
                    <com:zipCode>8005</com:zipCode>
                </ns2:address>
            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Class A Common Stock</ns2:securitiesClassTitle>
            <ns2:saleDate>03/01/2024</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>100</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>3501</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:remarks>The sales of shares set forth herein are made in connection with a selling plan dated 6/7/2023 that is intended to comply with Rule 10b5-1(c). The representation below regarding the seller's knowledge of material information was true as of the date the selling plan was entered into.</ns2:remarks>
        <ns2:noticeSignature>
            <ns2:noticeDate>05/14/2024</ns2:noticeDate>
            <ns2:planAdoptionDates>
                <ns2:planAdoptionDate>06/07/2023</ns2:planAdoptionDate>
            </ns2:planAdoptionDates>
            <ns2:signature>Goldman Sachs &amp; Co. LLC on behalf of Alexandre Jose Da Costa Perez</ns2:signature>
        </ns2:noticeSignature>
    </ns2:formData>
</ns2:edgarSubmission>
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144
0001861118
XXXXXXXX
LIVE
0001858985
On Holding AG
001-40795
Forrlibuckstrasse 190
Zurich
V8
8005
41-44-225-15-55
Alexandre Jose Da Costa Perez
Director
Class A Common Stock
Goldman Sachs & Co. LLC
200 West Street
New York
NY
10282
318924
11576941.2
283434752
05/14/2024
NYSE
Class A Common Stock
12/20/2021
Withdrawal from partnership
Point Break Capital LP
N
318924
12/20/2021
Withdrawal in-kind from capital account
N
Alexandre Jose Da Costa Perez
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Common Stock
05/01/2024
23786
745719.64
Alexandre Jose Da Costa Perez
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Common Stock
04/03/2024
24251
812170.84
Alexandre Jose Da Costa Perez
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Common Stock
05/08/2024
25490
836734.74
Alexandre Jose Da Costa Perez
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Common Stock
03/06/2024
34754
1132108.07
Alexandre Jose Da Costa Perez
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Common Stock
04/09/2024
9471
311117.61
Alexandre Jose Da Costa Perez
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Common Stock
02/29/2024
14316
504226.7
Alexandre Jose Da Costa Perez
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Common Stock
05/06/2024
19817
675670.52
Alexandre Jose Da Costa Perez
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Common Stock
04/04/2024
32065
1046521.44
Alexandre Jose Da Costa Perez
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Common Stock
04/02/2024
21943
751249.33
Alexandre Jose Da Costa Perez
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Common Stock
03/20/2024
2703
94640.68
Alexandre Jose Da Costa Perez
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Common Stock
03/01/2024
33219
1152998.27
Alexandre Jose Da Costa Perez
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Common Stock
04/01/2024
8089
282406.4
Alexandre Jose Da Costa Perez
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Common Stock
04/01/2024
16075
566319.03
Alexandre Jose Da Costa Perez
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Common Stock
04/08/2024
22976
752254.92
Alexandre Jose Da Costa Perez
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Common Stock
05/02/2024
20247
652220.66
Alexandre Jose Da Costa Perez
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Common Stock
02/14/2024
2081
65161.1
Alexandre Jose Da Costa Perez
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Common Stock
05/09/2024
28459
903243.13
Alexandre Jose Da Costa Perez
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Common Stock
03/25/2024
5501
192708.83
Alexandre Jose Da Costa Perez
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Common Stock
05/07/2024
29721
1014689.8
Alexandre Jose Da Costa Perez
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Common Stock
05/03/2024
19146
635455.74
Alexandre Jose Da Costa Perez
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Common Stock
03/22/2024
3200
112120
Alexandre Jose Da Costa Perez
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Common Stock
03/28/2024
40577
1444703.51
Alexandre Jose Da Costa Perez
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Common Stock
04/05/2024
47871
1514710.25
Alexandre Jose Da Costa Perez
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Common Stock
03/04/2024
49896
1710554.63
Alexandre Jose Da Costa Perez
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Common Stock
03/21/2024
50266
1793445.64
Alexandre Jose Da Costa Perez
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Common Stock
03/05/2024
48797
1612526.14
Alexandre Jose Da Costa Perez
Forrlibuckstrasse 190
Zurich
V8
8005
Class A Common Stock
03/01/2024
100
3501
The sales of shares set forth herein are made in connection with a selling plan dated 6/7/2023 that is intended to comply with Rule 10b5-1(c). The representation below regarding the seller's knowledge of material information was true as of the date the selling plan was entered into.
05/14/2024
06/07/2023
Goldman Sachs & Co. LLC on behalf of Alexandre Jose Da Costa Perez