Interim report
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Interim Report 2026 January - June
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2 KPIs Group 3 KPIs segments 4 Financial review 5 Summary 5 Depreciation and amortisation, non-operating results 8 Cash flows 9 Net asset position 9 Financial outlook 10 Consolidated interim financial statements 11 Consolidated statement of comprehensive income (unaudited) 11 Consolidated balance sheet (unaudited) 12 Consolidated statement of cash flows (unaudited) 13 Consolidated statement of changes in equity (unaudited) 14 Contents Notes to the interim financial statements 15 About this report 15 1 Changes in accounting principles 15 2 Segment information 15 3 Operating costs 18 4 Dividend 18 5 Financial liabilities 19 6 Financial result 19 7 Net current operating assets 20 8 Provisions and contingent liabilities 21 Alternative performance measures 22 Reconciliation of alternative performance measures 23 Further information 25 Share information 25 Quarterly review 2025 and 2026 26 Disclaimer 28
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3 KPIs Group In CHF million, except where indicated H1 2026 H1 2025 Change in % Financial data1 Revenue 7,221 7,4 46 (225) –3.0% EBITDA after lease expense (EBITDAaL) 2,557 2,474 83 3.3% Capital expenditure 1,355 1,486 (131) –8.8% Operating free cash flow 1,202 989 214 21.6% Free cash flow 717 496 221 44.6% Net income 668 625 43 6.9% Equity 11,516 11,593 (78) –0.7% Net debt 15,935 16,529 (595) –3.6% Operational data Switzerland Postpaid value wireless connections thousand 4,418 4,412 6 0.1% Broadband connections thousand 1,907 1,947 (40) –2.1% TV connections thousand 1,435 1,475 (40) –2.7% Fixed telephony connections thousand 969 1,052 (83) –7.9% Wholesale wireline access lines thousand 796 749 47 6.3% Operational data Italy Wireless connections thousand 19,803 20,207 (404) –2.0% Broadband connections thousand 5,500 5,619 (119) –2.1% Wholesale wireless connections thousand 5,856 7,336 (1,481) –20.2% Wholesale wireline access lines thousand 1,243 1,018 225 22.1% Swisscom share Number of issued shares thousand 51,802 51,802 – – Market capitalisation 32,298 29,138 3,160 10.8% Closing price CHF 623.50 562.50 61.00 10.8% Employees Full-time equivalent employees number 22,761 23,498 (737) –3.1% 1 Swisscom uses various alternative performance measures. The definitions and the reconciliation to the values in accordance with IFRS Accounting Standards are set out on pages 22–24 of the Interim Report. Totals in the tables included in this report may not add up due to rounding. Percentages and variances are calculated based on unrounded figures. The figures 0 and (0) indicate positive or negative amounts rounded to zero, while a dash (–) indicates zero.
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4 Interim Report January–June 2026 | KPIs segments KPIs segments In CHF million H1 2026 H1 2025 Change in % Revenue Switzerland 3,870 3,897 (27) –0.7% Italy 3,190 3,380 (190) –5.6% Others 464 527 (63) –12.0% Elimination (304) (359) 55 –15.3% Revenue 7,221 7,446 (225) –3.0% EBITDA after lease expense (EBITDAaL) Switzerland 1,700 1,687 13 0.8% Italy 838 760 78 10.2% Others 45 60 (15) –25.7% Elimination (25) (33) 8 –23.4% EBITDAaL 2,557 2,474 83 3.3% Capital expenditure Switzerland 761 831 (70) –8.4% Italy 598 661 (63) –9.6% Others 16 18 (3) –14.8% Elimination (20) (25) 5 –19.9% Capital expenditure 1,355 1,486 (131) –8.8% Operating free cash flow Switzerland 938 856 83 9.7% Italy 240 99 141 142.3% Others 29 42 (13) –30.5% Elimination (5) (8) 3 –35.0% Operating free cash flow 1,202 989 214 21.6%
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5 Financial review Summary Group revenue decreased by 3.0% to CHF 7,221 million. Operating income before depreciation and amortisation after lease expense (EBITDAaL) increased by 3.3% to CHF 2,557 million. The revenue and EBITDAaL development were influenced by the change in the EUR exchange rate as a result of the substantial share attributable to the Italy segment. The EUR average exchange rate fell by 2.4% in the first half of 2026 compared to the same period of the previous year. This resulted in negative exchange differences on revenue of CHF 78 million and on EBITDAaL of CHF 21 million. Based on a constant EUR exchange rate, revenue in the first half of 2026 decreased by 2.0% or CHF 147 million. Switzerland’s revenue fell by 0.7% and Italy’s by 3.3% (in EUR). EBITDAaL development was influenced not only by currency effects but also by non-recurring items. On an adjusted basis and at constant currency exchange rates, EBITDAaL increased by CHF 92 million (+3.7%), driven by the Italy segment. The adjusted EBITDAaL of the Italy segment increased by EUR 98 million (+11.8%); the adjusted EBITDAaL of Switzerland remained fairly stable (+0.6%). Net income increased by CHF 43 million (+6.9%) to CHF 668 million, mainly due to the increase in EBITDAaL. The Group’s capital expenditure decreased by 8.8% to CHF 1,355 million. Capital expenditure for Switzerland fell by 8.4%, and by 7.3% in Italy (in EUR). In the first half of 2026, capital expenditure in Italy included EUR 6 million for the consolidation of mobile sites on the INWIT network (prior year: EUR 14 million) and EUR 47 million integration capital expenditure (prior year: EUR 20 million). On an adjusted basis and at constant currency exchange rates, the Group’s capital expendi- ture decreased by 9.2% and in Italy by 10.6%. Operating free cash flow increased by 21.6% to CHF 1,202 million. On an adjusted basis and at constant currency exchange rates, the increase of the operating free cash flow amounts to CHF 226 million or 21.6%. About one-third of the increase results from Switzerland (CHF +80 million) and two-thirds from Italy (CHF +159 million). Free cash flow of CHF 717 million was up year-on-year by CHF 221 million, driven by the increase in the operating free cash flow. The number of Swisscom employees decreased year-on-year by 737 FTEs or 3.1% to 22,761 FTEs. In the Switzerland segment, FTEs fell by 599 or 4.6% to 12,542 FTEs, while in the Italy segment, FTEs slightly increased by 38 FTEs or 0.5% to 7,203 FTEs. The decline in the Switzerland segment is due to a decrease in FTEs in the areas of customer care, IT business and support functions. The financial outlook for the 2026 financial year remains unchanged. Swisscom expects revenue between CHF 14.7 billion and CHF 14.9 billion, EBITDA after lease expense (EBITDAaL) between CHF 5.0 billion and CHF 5.1 billion, capital expenditure between CHF 3.0 billion and CHF 3.1 billion and an operating free cash flow of around CHF 2.0 billion. Subject to achieving its targets, Swisscom plans to propose an increase in dividend from CHF 26 to CHF 27 per share for the financial year 2026 at the 2027 Annual General Meeting.
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6 Interim Report January–June 2026 | Financial review Switzerland In CHF million, except where indicated H1 2026 H1 2025 Change in % Financial data Residential customers 2,101 2,124 (23) –1.1% Business customers 1,463 1,475 (11) –0.8% Wholesale customers 265 268 (3) –1.0% Other 7 8 (0) –2.9% External revenue 3,837 3,874 (37) –1.0% Intersegment revenue 33 23 10 42.0% Revenue 3,870 3,897 (27) –0.7% Direct costs (761) (743) (18) 2.5% Indirect costs (1,409) (1,468) 58 –4.0% Operating expense (2,170) (2,210) 40 –1.8% EBITDA after lease expense (EBITDAaL) 1,700 1,687 13 0.8% Capital expenditure (761) (831) 70 –8.4% Operating free cash flow 938 856 83 9.7% Operational data in thousand and headcount in FTEs Postpaid value wireless connections 4,418 4,412 6 0.1% Broadband connections 1,907 1,947 (40) –2.1% TV connections 1,435 1,475 (40) –2.7% Fixed telephony connections 969 1,052 (83) –7.9% Wholesale wireline access lines 796 749 47 6.3% Full-time equivalent employees 12,542 13,141 (599) –4.6% Switzerland’s revenue decreased year-on-year by 0.7% or CHF 27 million to CHF 3,870 million. Revenue from residential customers dropped by CHF 23 million to CHF 2,101 million (–1.1%). The decrease is mainly due to a decline in telecommunications services (CHF –18 million or –1.0%). In the business customer area, revenue dropped by CHF 11 million to CHF 1,463 million (–0.8%), the telecommunication services declined by CHF 35 million (–4.8%) and the revenue from IT services by CHF 12 million (–2.0%). In contrast, the hard- and software revenue increased by CHF 37 million (+26.7%). In an intense market environment, there was a reduction in the number of connections for broadband (–2.1%) and TV (–2.7%). In contrast, the number of postpaid value wireless connections remained fairly stable (+0.1%). The number of connections for fixed network telephony dropped (–7.9%) as a result of its substitu- tion with wireless telephony. The operating expense decreased by 1.8% or CHF 40 million. Direct costs increased by CHF 18 million or 2.5%, driven by higher costs for goods and services purchased. Indirect costs dropped by CHF 58 million (–4.0%). In telecommunications, cost savings of CHF 42 million were realised through efficiency improvement measures. Operating income before depreciation and amortisation after lease expense (EBITDAaL) remained nearly stable at CHF 1,700 million (+0.6% on an adjusted basis). Cost-efficiency measures compensated for the decline in revenue from telecommunications services. Capital expend- iture decreased by 8.4% or CHF 70 million to CHF 761 million, mainly impacted by seasonal effects. As at the end of June 2026, Swisscom covered around 58% of households and businesses in Switzerland with optical fibre and 90% of the population with 5G+.
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7 Italy In EUR million, except where indicated H1 2026 H1 2025 Change in % Financial data Residential customers 1,571 1,627 (56) –3.5% Business customers 1,490 1,571 (82) –5.2% Wholesale customers 401 380 20 5.3% Other 11 12 (1) –4.4% External revenue 3,472 3,590 (118) –3.3% Intersegment revenue 2 2 (0) –22.0% Revenue 3,474 3,593 (118) –3.3% Direct costs (1,510) (1,676) 166 –9.9% Indirect costs (1,051) (1,108) 57 –5.1% Operating expense (2,562) (2,784) 223 –8.0% EBITDA after lease expense (EBITDAaL) 913 808 104 12.9% Capital expenditure (651) (703) 52 –7.3% Operating free cash flow 261 105 156 148.3% Operational data in thousand and headcount in FTEs Wireless connections 19,803 20,207 (404) –2.0% Broadband connections 5,500 5,619 (119) –2.1% Wholesale wireless connections 5,856 7,336 (1,481) –20.2% Wholesale wireline access lines 1,243 1,018 225 22.1% Full-time equivalent employees 7,203 7,165 38 0.5% The revenue of the Italy segment decreased year-on-year by 3.3% or EUR 118 million to EUR 3,474 million. Revenue from residential customers fell by 3.5% or EUR 56 million to EUR 1,571 million. The lower revenue from telecommunications services of EUR 57 million (–3.9%), driven by the declining customer base, could not be fully offset. Revenue from business customers decreased by 5.2% or EUR 82 million to EUR 1,490 million, mainly driven by the lower revenue from telecommunications services and lower hard- and software revenue. Revenue from wholesale business increased by 5.3% or EUR 20 million to EUR 401 million. The higher wholesale revenue is mainly caused by the growing wholesale wireline business. Competition in the Italian markets remained fierce. The number of retail wireless connections dropped year-on-year to 19.8 million (–2.0%). The decreasing wireless residential customer base (–479 thousand) could not be compensated by the increasing wireless business customer base (+75 thousand). The customer base in the broadband business dropped by 2.1% or 119 thousand to 5.5 million. The challenging market environment led to a decrease in the residential customer base of 91 thousand and a decrease in the business customer base of 28 thousand. The whole- sale wireless customer base from mobile virtual network operators (MVNO) hosted on the Fastweb + Vodafone network dropped by 20.2% or 1.5 million to 5.9 million due to the loss of a major MVNO customer (Poste Mobile). The number of wholesale wireline access lines provided to other operators rose by 22.1% or 225 thousand to 1.2 million. Operating expenses decreased by EUR 223 million (–8.0%), mainly driven by cost savings from synergy realisation, which amounted to EUR 166 million. In the first half of 2026, operating expenses included integration costs for Vodafone Italia in the amount of EUR 4 million (prior year: EUR 20 million) and a provision for legal proceedings in the amount of EUR 10 million. On an adjusted basis, operating result before depreciation and amortisation after lease expense (EBITDAaL) increased by EUR 98 million (+11.8%) due to the lower cost base. Capital expend- iture decreased by EUR 52 million or 7.3% to EUR 651 million. In the first half of 2026, capital expenditure included EUR 6 million for the consolidation of mobile sites on the INWIT network (prior year: EUR 14 million) and EUR 47 million integration capital expenditure (prior year: EUR 20 million). Adjusted by those items, capital expenditure dropped by EUR 71 million or 10.6%, mainly because of lower investments in the wireless and wireline access networks as well as lower customer driven capital expenditure. As at the end of June 2026, Fastweb + Vodafone covered 61% of households and businesses in Italy with optical fibre. The mobile network reached 90% of the population with 5G.
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8 Interim Report January–June 2026 | Financial review Others In CHF million, except where indicated H1 2026 H1 2025 Change in % Financial data External revenue 195 194 1 0.6% Intersegment revenue 269 333 (64) –19.3% Revenue 464 527 (63) –12.0% Direct costs (47) (44) (3) 7.5% Indirect costs (372) (423) 51 –12.0% Operating expense (419) (467) 48 –10.2% EBITDA after lease expense (EBITDAaL) 45 60 (15) –25.7% Capital expenditure (16) (18) 3 –14.8% Operating free cash flow 29 42 (13) –30.5% Headcount in FTEs Full-time equivalent employees 3,016 3,192 (176) –5.5% Revenue in the Others segment dropped by 12.0% or CHF 63 million year-on-year to CHF 464 million, primarily due to lower interseg- ment revenue from cablex construction services. The operating result before depreciation and amortisation after lease expense (EBITDAaL) decreased by 25.7% or CHF 15 million to CHF 45 million, driven by the fall in revenue. Depreciation and amortisation, non-operating results In CHF million, except where indicated H1 2026 H1 2025 Change in % EBITDA after lease expense (EBITDAaL) 2,557 2,474 83 3.3% Lease expense 796 816 (20) –2.4% EBITDA 3,353 3,290 63 1.9% Depreciation and amortisation of property, plant and equipment and intangible assets (1,584) (1,563) (21) 1.3% Depreciation of right-of-use assets (769) (781) 12 –1.6% Operating income (EBIT) 1,000 946 55 5.8% Net interest expense on financial assets and liabilities (110) (115) 5 –4.1% Interest expense on lease liabilities (49) (56) 7 –13.0% Other financial result (23) (9) (14) 155.3% Income before income taxes 818 766 53 6.9% Income tax expense (150) (141) (9) 6.6% Net income 668 625 43 6.9% Earnings per share (in CHF) 12.92 12.08 0.84 6.9% Net income increased by CHF 43 million or 6.9% to CHF 668 million, mainly due to the higher operating income. Income tax expense amounted to CHF 150 million (prior year: CHF 141 million), which corresponds to an effective income tax rate of 18.3% (prior year: 18.4%).
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9 Cash flows In CHF million H1 2026 H1 2025 Change Operating free cash flow 1,202 989 214 Change in net working capital (148) (233) 85 Other operating cash flows 4 (17) 22 Change in defined benefit obligations 9 9 (0) Net interest paid1 (83) (69) (15) Income taxes paid (267) (184) (83) Free cash flow 717 496 221 Net expenditure for company acquisitions and disposals (8) – (8) Dividend Swisscom Ltd (1,347) (1,140) (207) Other changes2 337 161 176 Increase in net debt (301) (483) 181 1 Excluding interest payments for lease liabilities (already included in operating free cash flow). 2 Includes foreign currency effects, fair value adjustments and non-cash changes in net debt positions. Operating free cash flow rose by CHF 214 million to CHF 1,202 million (+21.6%). Of the operating free cash flow, CHF 938 million was attribut- able to the Switzerland segment and CHF 240 million (EUR 261 million) to the Italy segment. Free cash flow grew by CHF 221 million to CHF 717 million (+44.6%), mainly due to an increase in the operating free cash flow. Tax payments increased by CHF 83 million to CHF 267 million due to additional tax payments relating to prior years. Net asset position In CHF million 30.6.2026 31.12.2025 Change Trade receivables 2,406 2,494 (88) Trade payables (2,294) (2,386) 92 Provisions (1,566) (1,586) 20 Other operating assets and liabilities, net (58) (186) 128 Net working capital (1,512) (1,665) 153 Property, plant and equipment 13,639 13,663 (24) Intangible assets 5,407 5,682 (275) Goodwill 6,557 6,575 (18) Right-of-use assets 3,696 3,949 (253) Receivables from finance leases 142 170 (28) Net operating assets 27,929 28,374 (445) Net debt (15,935) (15,633) (301) Defined benefit obligations (54) (50) (4) Income tax assets and liabilities, net (647) (759) 112 Equity-accounted investees and other financial assets 223 306 (83) Equity 11,516 12,238 (723) Equity ratio in % 33.1 34.0 Net operating assets at CHF 27.9 billion were CHF 0.4 billion lower compared with the end of 2025. Depreciation and amortisation of non-current operating assets was higher than investments. The CHF 0.7 billion decrease in equity to CHF 11.5 billion was attributable to the net income for the first six months of 2026 less the dividend of Swisscom Ltd for the financial year 2025. The equity ratio fell from 34.0% to 33.1% compared with the end of 2025. On 25 March 2026, the Annual General Meeting of Swisscom Ltd approved the payment of a dividend of CHF 26 gross per share, which corresponds to a total divi- dend amount of CHF 1,347 million.
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10 Interim Report January–June 2026 | Financial review Net debt Net debt consists of financial liabilities and lease liabilities less cash and cash equivalents, listed debt instruments and derivative financial instruments. In CHF million 30.6.2026 31.12.2025 Change Debenture bonds 11,730 11,139 591 Bank loans 575 1,103 (528) Private placements 323 322 1 Other financial liabilities 393 426 (33) Lease liabilities 3,480 3,729 (249) Total financial liabilities and lease liabilities 16,501 16,719 (218) Cash and cash equivalents (215) (258) 43 Other financial assets (351) (828) 477 Net debt 15,935 15,633 301 As at 30 June 2026, the average interest expense on financial liabilities was 1.84%, the average residual term to maturity was 5.5 years and the share of fixed-interest-bearing financial liabilities was 95%. Swisscom also has two confirmed credit lines totalling CHF 2.9 billion, which have not been used. Financial outlook Financial year 2025 Outlook 2026 Key figures Group in CHF million Switzerland in CHF million Italy in EUR million Group in CHF billion Switzerland in CHF billion Italy in EUR billion Revenue 15,048 7,868 7,291 14.7–14.9 7.7–7.8 ~7.2 EBITDAaL 4,984 3,362 1,687 5.0–5.1 ~3.3 1.8–1.9 Capital expenditure 3,064 1,692 1,478 3.0–3.1 1.6–1.7 ~1.5 Operating free cash flow 1,920 1,670 209 ~2.0 1.6–1.7 0.3–0.4 Net debt/EBITDA ratio 2.4x ~2.3x Dividend per share (in CHF) 26 27 The previously communicated financial outlook for the financial year 2026 is confirmed. The Swisscom Group includes the segments Switzerland, Italy and Others (not shown in the list above). In 2026, EBITDAaL for the Italy segment includes integration costs of around EUR 50 million and other positive non-recurring items of around EUR 75 million. Capital expenditure for Italy in 2026 takes into account capital expenditure for the integration of the acquired Vodafone Italia, amounting to EUR 200 million. The guidance for operating free cash of EUR 0.3 to EUR 0.4 billion for Italy includes the effects mentioned above. For the financial year 2026, the Swisscom Group’s EBITDAaL contains a lease expense of around CHF 1.6 billion. The net debt/EBITDA ratio at the end of 2026 is expected to be around 2.3x. Leverage guidance does not consider the conclusion of new tower agreement(s) in Italy. For modelling purposes, assuming a notional new tower agreement for eight years (2028–2036) on the same terms as the current INWIT contract, leverage is estimated to increase by around 0.3x. Subject to achieving its targets, Swisscom plans to propose an increase in dividend from CHF 26 to CHF 27 per share for the 2026 financial year at the 2027 Annual General Meeting.
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11 Consolidated interim financial statements Consolidated statement of comprehensive income (unaudited) In CHF million, except for per share amounts Note 1.1.–30.6.2026 1.1.–30.6.2025 Income statement Revenue 2 7,221 7,446 Direct costs 3 (1,737) (1,911) Personnel expense 3 (1,507) (1,548) Other operating expense 3 (1,053) (1,140) Capitalised self-constructed assets and other income 3 429 443 Operating income before depreciation and amortisation 3,353 3,290 Depreciation and amortisation of property, plant and equipment and intangible assets (1,584) (1,563) Depreciation of right-of-use assets (769) (781) Operating income 1,000 946 Financial income 6 17 19 Financial expense 6 (199) (199) Result of equity-accounted investees – – Income before income taxes 818 766 Income tax expense (150) (141) Net income 668 625 Other comprehensive income Actuarial gains and losses from defined benefit pension plans 3 8 Change in fair value of equity instruments 4 (9) Items that will not be reclassified to income statement 7 (1) Foreign currency translation adjustments of foreign subsidiaries (54) (33) Change in cash flow hedges 3 (13) Items that may be reclassified to income statement (51) (46) Other comprehensive income (44) (47) Comprehensive income Net income 668 625 Other comprehensive income (44) (47) Comprehensive income 624 578 Share of net income and comprehensive income Equity holders of Swisscom Ltd 669 626 Non-controlling interests (1) (1) Net income 668 625 Equity holders of Swisscom Ltd 625 579 Non-controlling interests (1) (1) Comprehensive income 624 578 Earnings per share Basic and diluted earnings per share (in CHF) 12.92 12.08
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12 Interim Report January–June 2026 | Consolidated interim financial statements Consolidated balance sheet (unaudited) In CHF million Note 30.6.2026 31.12.2025 Assets Cash and cash equivalents 215 258 Trade receivables 7 2,406 2,494 Receivables from finance leases 46 34 Other operating assets 7 1,687 1,648 Other financial assets 40 598 Current income tax assets 98 96 Total current assets 4,492 5,128 Property, plant and equipment 13,639 13,663 Intangible assets 5,407 5,682 Goodwill 6,557 6,575 Right-of-use assets 3,696 3,949 Equity-accounted investees 26 26 Receivables from finance leases 96 136 Other financial assets 508 510 Deferred tax assets 367 354 Total non-current assets 30,296 30,895 Total assets 34,788 36,023 Liabilities and equity Financial liabilities 5 1,889 1,216 Lease liabilities 1,041 898 Trade payables 7 2,294 2,386 Other operating liabilities 7 1,672 1,761 Provisions 8 150 179 Current income tax liabilities 198 308 Total current liabilities 7,244 6,748 Financial liabilities 5 11,132 11,773 Lease liabilities 2,439 2,831 Defined benefit obligations 54 50 Provisions 8 1,416 1,408 Deferred gain on sale and leaseback of real estate 72 74 Deferred tax liabilities 915 901 Total non-current liabilities 16,028 17,037 Total liabilities 23,272 23,785 Share capital 52 52 Capital reserves 136 136 Retained earnings 13,546 14,216 Foreign currency translation adjustments (2,199) (2,145) Hedging reserves (17) (20) Equity attributable to equity holders of Swisscom Ltd 11,518 12,239 Non-controlling interests (2) (1) Total equity 11,516 12,238 Total liabilities and equity 34,788 36,023
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13 Consolidated statement of cash flows (unaudited) In CHF million Note 1.1.–30.6.2026 1.1.–30.6.2025 Net income 668 625 Income tax expense 150 141 Result of equity-accounted investees – – Financial income 6 (17) (19) Financial expense 6 199 199 Depreciation and amortisation of property, plant and equipment and intangible assets 1,584 1,562 Depreciation of right-of-use assets 769 782 Gain on sale of property, plant and equipment (3) (14) Loss on sale of property, plant and equipment – 2 Expense for share-based payments 1 1 Revenue from finance leases (34) (44) Proceeds from finance leases 69 42 Change in deferred gain from the sale and leaseback of real estate (2) (2) Change in operating assets and liabilities 7 (122) (104) Change in provisions (25) (127) Change in defined benefit obligations 9 9 Interest received (8) 9 Interest paid on financial liabilities (76) (78) Interest paid on lease liabilities (49) (56) Dividends received 1 1 Income taxes paid (267) (184) Cash flow from operating activities 2,847 2,745 Purchase of property, plant and equipment and intangible assets (1,343) (1,461) Proceeds from sale of property, plant and equipment and intangible assets 4 14 Acquisition of subsidiaries, net of cash and cash equivalents acquired (12) (8) Purchase of other financial assets (6) (68) Proceeds from other financial assets 573 – Other cash flows from investing activities (13) (19) Cash flow used in investing activities (797) (1,542) Issuance of financial liabilities 5 1,350 1,122 Repayment of financial liabilities 5 (1,312) (1,760) Repayment of lease liabilities (780) (785) Dividends paid to equity holders of Swisscom Ltd (1,347) (1,140) Other cash flows from financing activities (2) (7) Cash flow used in financing activities (2,091) (2,570) Net decrease in cash and cash equivalents (40) (1,367) Cash and cash equivalents at 1 January 258 1,523 Foreign currency translation adjustments in respect of cash and cash equivalents (3) (2) Cash and cash equivalents at 30 June 215 154
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14 Interim Report January–June 2026 | Consolidated interim financial statements Consolidated statement of changes in equity (unaudited) In CHF million Share capital Capital reserves Retained earnings Foreign currency translation adjustments Hedging reserves Equity attributable to equity holders of Swisscom Non- controlling interests Total equity Balance at 1 January 2025 52 136 14,070 (2,081) (23) 12,154 – 12,154 Net income – – 626 – – 626 (1) 625 Other comprehensive income – – (1) (33) (13) (47) – (47) Comprehensive income – – 625 (33) (13) 579 (1) 578 Dividends paid – – (1,140) – – (1,140) – (1,140) Other changes – – 1 – – 1 – 1 Balance at 30 June 2025 52 136 13,556 (2,114) (36) 11,594 (1) 11,593 Balance at 1 January 2026 52 136 14,216 (2,145) (20) 12,239 (1) 12,238 Net income – – 669 – – 669 (1) 668 Other comprehensive income – – 7 (54) 3 (44) – (44) Comprehensive income – – 676 (54) 3 625 (1) 624 Dividends paid – – (1,347) – – (1,347) – (1,347) Other changes – – 1 – – 1 – 1 Balance at 30 June 2026 52 136 13,546 (2,199) (17) 11,518 (2) 11,516
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15 Notes to the interim financial statements About this report General disclosures The Swisscom Group (hereinafter referred to as ‘Swisscom’) provides telecommunications services and is active primarily in Switzerland and Italy. The unaudited consolidated financial statements as at 30 June 2026 cover Swisscom Ltd, as parent company, and its subsidiaries. Swisscom Ltd is a public limited company with special status under Swiss law and has its registered office in Ittigen (Bern). The address is: Swisscom Ltd, Alte Tiefenau strasse 6, 3048 Worblaufen. Swisscom is listed on the SIX Swiss Exchange. The number of issued shares is unchanged from the prior year and totals 51,801,943. The shares have a nominal value of CHF 1 and are fully paid-up. Each share entitles the holder to one vote. The majority shareholder of Swisscom Ltd is the Swiss Confederation (‘Confederation’). The Confederation is obligated by current law to hold the majority of the capital and voting rights. The Board of Directors of Swisscom approved the issuance of these consolidated interim financial statements on 5 August 2026. There were no events after the reporting date. Basis of preparation The consolidated interim financial statements for the six months to 30 June 2026 were prepared in accordance with International Accounting Standard ‘IAS 34 Interim Financial Reporting’ and should be read in conjunction with the consolidated financial statements for the financial year ended 31 December 2025. The consolidated interim financial statements were prepared in accordance with the accounting policies described in the 2025 consolidated financial state- ments and the revised accounting principles described below. In preparing the consolidated interim financial statements, manage- ment is required to make accounting estimates and assumptions. Adjustments are made for changes in estimates and assumptions during the reporting period in which the original estimates and assumptions changed. Swisscom operates in business areas where the provision of services is not subject to any major seasonal or cyclical fluctuations during the financial year. Income taxes are calculated on the basis of an estimate of the expected income tax rate for the full year. For the consolidated interim financial statements, a CHF/EUR exchange rate of 0.922 was used as the closing rate (31 December 2025: CHF/EUR 0.931) and 0.918 as the average rate for the period (prior year: CHF/EUR 0.941). 1 Changes in accounting principles Amendments to IFRS Accounting Standards and Inter- pretations that are to be applied for the first time in the financial year As of 1 January 2026, Swisscom adopted various amendments to the existing International Accounting Standards (IFRS) and Interpretations, none of which have a material impact on the results or the financial position of the Group. 2 Segment information General disclosures Reporting is divided into the segments Switzerland, Italy and Others. The Switzerland and Italy segments are engaged in largely identical business activities, differing only in their regional scope. Residential customers are offered telecommunications services such as mobile communication, fixed-line telephony, broadband and TV. Business customers receive IT solutions in addition to telecommunications services, covering the entire spectrum of business ICT infrastructure from individual products to end-to-end solutions. In addition, the network infrastructure is made available to other telecommunications providers as wholesale services. Each segment includes its respective national telecommunications network and IT infrastructure. Group- wide functions are reported within the Switzerland segment.
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16 Interim Report January–June 2026 | Notes to the interim financial statements Segment expense encompasses the direct costs, personnel expense and other indirect costs. In the segment reporting, lease expenses of CHF 796 million (prior year: CHF 816 million) are allocated to direct costs (current year: CHF 426 million; prior year CHF 438 million) and other indirect costs (current year: CHF 370 million; prior year: CHF 378 million). Pension cost includes ordinary employer contributions. The difference between the ordinary employer contributions and the pension cost as provided for under IAS 19 is reported in the elimination column. The elimination column in the segment result, which totals CHF –25 million (prior year: CHF –33 million), includes expense of CHF 5 million (prior year: expense CHF 8 million) as a pension cost reconciliation item in accordance with IAS 19. Capital expenditure consists of the purchase of property, plant and equip- ment and intangible assets and the acquisition of indefeasible rights of use (IRU). In general, IRUs are paid in full at the beginning of their use and are classified as leases under IFRS 16. From an economic point of view, IRU acquisitions will be considered as capital expenditure in the segment information. Capital expenditure in the first six months of 2026 includes IRU acquisitions of CHF 12 million (prior year: CHF 25 million). Segment information 2026 1.1.–30.6.2026, in CHF million Switzerland Italy Others Elimination Total Residential customers 2,101 1,443 – – 3,544 Business customers 1,463 1,368 195 – 3,026 Wholesale customers 265 368 – – 633 Other 7 10 – – 18 External revenue 3,837 3,189 195 – 7,221 Intersegment revenue 33 2 269 (304) – Revenue 3,870 3,190 464 (304) 7,221 Direct costs (761) (1,387) (47) 31 (2,163) Personnel expense (1,043) (261) (201) (1) (1,507) Other indirect costs (367) (705) (170) 248 (994) EBITDA after lease expense (EBITDAaL) 1,700 838 45 (25) 2,557 Lease expense 796 Operating income before depreciation and amortisation (EBITDA) 3,353 Depreciation and amortisation of property, plant and equipment and intangible assets (1,584) Depreciation of right-of-use assets (769) Operating income (EBIT) 1,000 Financial income 17 Financial expense (199) Result of equity-accounted investees – Income before income taxes 818 Income tax expense (150) Net income 668 EBITDA after lease expense (EBITDAaL) 1,700 838 45 (25) 2,557 Capital expenditure (761) (598) (16) 20 (1,355) Operating free cash flow 938 240 29 (5) 1,202
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17 Segment information 2025 1.1.–30.6.2025, in CHF million Switzerland Italy Others Elimination Total Residential customers 2,124 1,531 – – 3,655 Business customers 1,475 1,478 194 – 3,147 Wholesale customers 268 358 – – 626 Other 8 11 – – 19 External revenue 3,874 3,378 194 – 7,446 Intersegment revenue 23 2 333 (359) – Revenue 3,897 3,380 527 (359) 7,446 Direct costs (743) (1,577) (44) 14 (2,350) Personnel expense (1,081) (256) (206) (5) (1,548) Other indirect costs (387) (787) (217) 316 (1,075) EBITDA after lease expense (EBITDAaL) 1,687 760 60 (33) 2,474 Lease expense 816 Operating income before depreciation and amortisation (EBITDA) 3,290 Depreciation and amortisation of property, plant and equipment and intangible assets (1,563) Depreciation of right-of-use assets (781) Operating income (EBIT) 946 Financial income 19 Financial expense (199) Result of equity-accounted investees – Income before income taxes 766 Income tax expense (141) Net income 625 EBITDA after lease expense (EBITDAaL) 1,687 760 60 (33) 2,474 Capital expenditure (831) (661) (18) 25 (1,486) Operating free cash flow 856 99 42 (8) 989
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18 Interim Report January–June 2026 | Notes to the interim financial statements 3 Operating costs Direct costs In CHF million 1.1.–30.6.2026 1.1.–30.6.2025 Customer premises equipment and merchandise 662 672 Services purchased 481 549 Costs to obtain a contract 253 249 Costs to fulfil a contract 11 34 Network access costs 278 357 Allowances for receivables and contract assets 52 50 Total direct costs 1,737 1,911 Indirect costs In CHF million 1.1.–30.6.2026 1.1.–30.6.2025 Salary and social security expenses 1,479 1,513 Other personnel expense 28 35 Total personnel expense 1,507 1,548 Information technology cost 186 167 Maintenance expense 139 144 Energy costs 215 219 Advertising and selling expenses 97 98 Consultancy expenses and freelance workforce 47 51 Network capacity rental 28 37 Call centre services purchased 63 71 Administration expense 20 21 Miscellaneous operating expenses 258 332 Total other operating expense 1,053 1,140 Capitalised self-constructed tangible and intangible assets (333) (345) Own work for capitalised contract costs (12) (14) Gain on sale of property, plant and equipment (3) (14) Miscellaneous income (81) (70) Total capitalised self-constructed assets and other income (429) (443) Total indirect costs 2,131 2,245 Capitalised self-constructed tangible and intangible assets include personnel costs for the manufacture of technical installations, the construction of network infrastructure and the development of soft- ware for internal use. 4 Dividend On 25 March 2026, the Annual General Meeting of Swisscom Ltd approved the payment of a gross dividend of CHF 26 per share. A total dividend amount of CHF 1,347 million was paid out.
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19 5 Financial liabilities In CHF million Carrying amount 1.1.2026 Issuance Repayment Other changes1 Carrying amount 30.6.2026 Fair value Financial liabilities Bank loans 1,103 316 (838) (6) 575 579 Debenture bonds 11,139 1,034 (456) 13 11,730 11,770 Private placements 322 – – 1 323 325 Derivative financial instruments 164 – (3) (13) 148 148 Other financial liabilities 261 – (15) (1) 245 241 Total financial liabilities 12,989 1,350 (1,312) (6) 13,021 13,063 1 Interest expense, interest payments, non-cash changes and foreign currency translation adjustments. As of 30 June 2026, Swisscom had taken out short-term bank loans on a weekly and monthly basis amounting to CHF 316 million. In the first six months of 2026, Swisscom issued three debenture bonds. A debenture bond in the amount of CHF 125 million with a coupon of 0.915% and a maturity of 9 years was issued in March 2026. In addition, two Eurobonds in the amount of EUR 500 million (CHF 455 million) each, one with a coupon of 3.125% and a maturity of 3 years and the other with a coupon of 3.625% and a maturity of 9 years, were issued in May 2026. The raised funds were used to repay and refinance existing debt. Swisscom has two confirmed credit lines amounting to CHF 1,700 million maturing in 2029 and CHF 1,200 million maturing in 2028. As of 30 June 2026, none of the credit lines had been used. 6 Financial result In CHF million 1.1.–30.6.2026 1.1.–30.6.2025 Interest income on financial assets 4 7 Foreign exchange gains – 1 Other financial income 13 11 Total financial income 17 19 Interest expense on financial liabilities (115) (122) Interest expense on lease liabilities (49) (56) Interest and present-value adjustments on provisions (7) (5) Change in fair value of interest rate swaps (10) – Other financial expense (19) (16) Total financial expense (199) (199) Financial income and financial expense, net (182) (180) Net interest expense on financial assets and liabilities (110) (115) Interest expense on lease liabilities (49) (56)
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20 Interim Report January–June 2026 | Notes to the interim financial statements 7 Net current operating assets Operating assets and liabilities changed as follows in the first six months of 2026: In CHF million 1.1.2026 Operational changes Other changes1 30.6.2026 Trade receivables 2,494 (80) (8) 2,406 Other operating assets 1,648 43 (4) 1,687 Trade payables (2,386) 75 17 (2,294) Other operating liabilities (1,761) 84 5 (1,672) Total operating assets and liabilities, net (5) 122 10 127 1 Foreign currency translation and adjustments from acquisition and sale of subsidiaries. Other operating assets and liabilities In CHF million 30.6.2026 31.12.2025 Other operating assets Contract assets 196 200 Contract costs 470 487 Other receivables 177 191 Inventories 218 189 Prepaid expenses 536 443 Advance payments made 34 34 Value-added taxes receivable 3 68 Other non-financial assets 53 37 Total other operating assets 1,687 1,648 Other operating liabilities Contract liabilities 1,063 1,114 Accruals for variable performance-related bonus 118 200 Value-added taxes payable 101 96 Accruals for annual holiday, overtime 109 63 Liabilities from collection activities 12 18 Miscellaneous liabilities 270 270 Total other operating liabilities 1,672 1,761
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21 8 Provisions and contingent liabilities Provisions In CHF million Asset retirement obligations Legal proceedings Other Total Balance at 1 January 2026 1,070 197 320 1,587 Additions to provisions – 11 37 48 Adjustments recorded under property, plant and equipment 2 – – 2 Interest and present-value adjustments 7 – – 7 Release of unused provisions – (3) (9) (12) Use of provisions (10) (2) (50) (62) Foreign currency translation adjustments (2) (1) (1) (4) Balance at 30 June 2026 1,067 202 297 1,566 Thereof current provisions 15 33 102 150 Thereof non-current provisions 1,052 169 195 1,416 Contingent liabilities for regulatory and competition law proceedings With regard to the contingent liabilities reported in the 2025 consoli- dated financial statements in connection with regulatory and antitrust proceedings, Swisscom is of the opinion that an outflow of resources is unlikely and, as before, has therefore not recognised any provisions for this in the consolidated financial statements as at 30 June 2026.
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22 Interim Report January–June 2026 | Alternative performance measures Alternative performance measures Swisscom uses key indicators defined in the IFRS Accounting Stand- ards (IFRS) throughout its entire financial reporting, as well as selected alternative performance measures (APMs). These alternative meas- ures provide useful information on the Group’s financial situation and are used for financial management and control purposes. As these measures are not defined under IFRS, the calculation may differ from the published APMs of other companies. For this reason, comparability across companies may be limited. The key alternative performance measures used at Swisscom for the interim financial reporting as at 30 June 2026 are defined as follows: Key performance measure Swisscom definition Adjustments Significant items that, due to their exceptional nature, cannot be considered part of the Swisscom Group’s ongoing performance, such as restructuring costs, pension cost (IAS 19 reconciliation) and significant positions in connection with legal cases or other non-recurring items. In addition, significant mergers and acquisitions and the nonretroactive application of changes to IFRS Accounting Principles and Standards may affect comparability with the previous year. At constant exchange rates Key performance measures considering currency effects (figures for 2026 are translated at the 2025 exchange rate to eliminate the currency effect). EBITDA after lease expense (EBITDAaL) Operating income before depreciation and amortisation less lease expense (excl. depreciation of indefeasible rights of use (IRU) that are classified as leases under IFRS 16). Capital expenditure Purchase of property, plant and equipment and intangible assets and acquisition of indefeasible rights of use (IRU) that are classified as leases under IFRS 16. In general, IRUs are paid in full at the beginning of use. Operating free cash flow Operating income before depreciation and amortisation (EBITDA) less investments in property, plant and equipment and intangible assets as well as acquisition of indefeasible rights of use (IRU) and lease expense. Lease expense includes interest expense on lease liabilities and depreciation of right-of-use assets excluding depreciation of right-of-use assets for IRUs as well as impairments of right-of-use assets. Free cash flow Cash flows from operating and investing activities excluding cash flows from the purchase and sale of subsidiaries and purchase of and proceeds from equity-accounted investees and other financial assets. Net debt Financial liabilities and lease liabilities less cash and cash equivalents, listed debt instruments and derivative financial instruments.
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23 Reconciliation of alternative performance measures In CHF million 1.1.–30.6.2026 1.1.–30.6.2025 Change EBITDA after lease expense (EBITDAaL) Operating income before depreciation and amortisation 3,353 3,290 63 Depreciation of right-of-use assets (769) (782) 13 Depreciation of indefeasible rights of use (IRU) 22 22 – Interest expense on lease liabilities (49) (56) 7 EBITDA after lease expense (EBITDAaL) 2,557 2,474 83 Capital expenditure Purchase of property, plant and equipment and intangible assets 1,343 1,461 (118) Acquisition of indefeasible rights of use (IRU) 12 25 (13) Capital expenditure 1,355 1,486 (131) Operating free cash flow Cash flow from operating activities 2,847 2,745 102 Purchase of property, plant and equipment and intangible assets (1,343) (1,461) 118 Acquisition of indefeasible rights of use (IRU) (12) (25) 13 Depreciation of right-of-use assets (769) (782) 13 Depreciation of indefeasible rights of use (IRU) 22 22 – Proceeds from finance lease receivables (69) (42) (27) Change in deferred gain from the sale and leaseback of real estate 2 2 – Change in operating assets and liabilities 122 104 18 Change in provisions 25 127 (102) Change in defined benefit obligations (9) (9) – Gain on sale of property, plant and equipment 3 14 (11) Loss on sale of property, plant and equipment – (2) 2 Expense for share-based payments (1) (1) – Revenue from finance leases 34 44 (10) Interest received 8 (9) 17 Interest paid on financial liabilities 76 78 (2) Dividends received (1) (1) – Income taxes paid 267 184 83 Operating free cash flow 1,202 989 214 Free cash flow Cash flow from operating activities 2,847 2,745 102 Cash flow used in investing activities (797) (1,542) 745 Repayment of lease liabilities (780) (785) 5 Acquisition of subsidiaries, net of cash and cash equivalents acquired 12 8 4 Purchase of other financial assets 6 68 (62) Proceeds from other financial assets (573) – (573) Other cash flows from investing activities – 1 (1) Free cash flow 717 496 221
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24 Interim Report January–June 2026 | Alternative performance measures In CHF million 1.1.–30.6.2026 1.1.–30.6.2025 Change Change at constant exchange rates Revenue 7,221 7,446 –3.0% –2.0% EBITDA after lease expense (EBITDAaL) 2,557 2,474 3.3% 4.2% Restructuring costs Switzerland – 2 Provisions for legal proceedings Italy 9 – Integration cost Vodafone Italia 3 19 Pension cost (IAS 19 reconciliation) 5 8 EBITDAaL, adjusted 2,575 2,504 2.8% 3.7% Capital expenditure 1,355 1,486 –8.8% –7.9% INWIT mobile site consolidation (6) – Integration capital expenditure Vodafone Italia (43) (32) Capital expenditure, adjusted 1,306 1,454 –10.2% –9.2% Operating free cash flow 1,202 989 21.6% 22.3% EBITDAaL adjustments 18 29 Capital expenditure adjustments 49 32 Operating free cash flow, adjusted 1,269 1,050 20.8% 21.6%
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25 Further information Share information Swisscom share performance indicators 31.12.2025–30.6.2026 SIX Swiss Exchange Closing price as at 31 December 2025 in CHF1 575.50 Closing price as at 30 June 2026 in CHF1 623.50 Year high in CHF1 727.00 Year low in CHF1 570.50 Total volume of traded shares 6,001,408 Total turnover in CHF million 4,029 Daily average of traded shares 96,797 Daily average in CHF million 65 Source: Bloomberg 1 paid prices Financial calendar > 05 November 2026 2026 Third-Quarter Results > 11 February 2027 2026 Annual Results and Annual Report Stock exchanges Swisscom shares are listed on the SIX Swiss Exchange under the symbol SCMN (Securities No. 874251). In the United States, they are traded in the form of American Depositary Receipts (ADR) at a ratio of 1:10 (Over The Counter, Level 1) under the symbol SCMWY (Pink Sheet No. 69769). Share performance 30.06.2026 In CHF 750 576 450 31.12 28.02 30.04 30.06 624 Swisscom SMI (indexed) STOXX 600 EU Telco Index (in CHF, indexed)
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26 Interim Report January–June 2026 | Further information Quarterly review 2025 and 2026 In CHF million, except where indicated 1st quarter 2nd quarter 3rd quarter 4th quarter 2025 1st quarter 2nd quarter 3rd quarter 4th quarter 2026 Financial data Revenue 3,759 3,687 3,730 3,873 15,048 3,606 3,615 7,221 Direct costs (1,188) (1,162) (1,179) (1,309) (4,838) (1,083) (1,080) (2,163) Indirect costs (1,294) (1,328) (1,248) (1,356) (5,226) (1,235) (1,265) (2,500) EBITDA after lease expense (EBITDAaL) 1,277 1,197 1,302 1,208 4,984 1,288 1,269 2,557 Lease expense 409 407 407 410 1,633 398 398 796 EBITDA 1,686 1,604 1,709 1,618 6,617 1,686 1,667 3,353 Depreciation and amortisation (773) (789) (768) (784) (3,114) (784) (799) (1,584) Depreciation of right-of-use assets (394) (387) (403) (394) (1,578) (385) (384) (769) Operating income (EBIT) 519 427 539 440 1,925 517 483 1,000 Financial income and financial expense, net (77) (104) (90) (89) (358) (113) (69) (182) Equity-accounted investees 0 0 0 (0) 0 0 0 0 Income before income taxes (EBT) 442 324 450 351 1,567 404 414 818 Income tax expense (75) (65) (88) (69) (297) (72) (77) (150) Net income 367 258 362 282 1,270 332 337 668 Earnings per share (in CHF) 7.09 5.00 7.00 5.44 24.53 6.41 6.50 12.92 Capital expenditure 780 706 685 894 3,065 693 661 1,355 Operating free cash flow 498 491 617 314 1,920 594 608 1,202 Free cash flow 471 25 564 373 1,433 586 131 717 Net debt 15,634 16,529 15,919 15,633 15,633 16,176 15,935 15,935
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27 In CHF million, except where indicated 1st quarter 2nd quarter 3rd quarter 4th quarter 2025 1st quarter 2nd quarter 3rd quarter 4th quarter 2026 Financial data Revenue Switzerland 1,962 1,936 1,965 2,006 7,868 1,937 1,933 3,870 Italy 1,717 1,663 1,673 1,778 6,831 1,596 1,594 3,190 Others 258 269 254 256 1,037 225 239 464 Elimination (178) (181) (162) (167) (688) (152) (152) (304) Total revenue 3,759 3,687 3,730 3,873 15,048 3,606 3,615 7,221 EBITDA after lease expense (EBITDAaL) Switzerland 866 821 877 804 3,368 861 839 1,700 Italy 398 362 408 412 1,580 420 418 838 Others 29 31 33 2 95 19 26 45 Reconciliation pension cost (4) (4) (4) 0 (12) (2) (3) (5) Elimination (12) (13) (10) (11) (47) (10) (11) (20) Total EBITDAaL 1,277 1,197 1,302 1,208 4,984 1,288 1,269 2,557 Capital expenditure Switzerland 422 409 397 459 1,687 382 379 761 Italy 360 301 288 435 1,384 312 286 598 Others 10 9 11 10 40 9 7 16 Elimination (12) (13) (10) (11) (47) (10) (11) (20) Total capital expenditure 780 706 685 894 3,065 693 661 1,355 Operating free cash flow Switzerland 444 411 480 345 1,681 478 460 938 Italy 38 61 120 (23) 196 108 132 240 Others 20 22 22 (8) 55 10 19 29 Reconciliation pension cost (4) (4) (4) 0 (12) (2) (3) (5) Elimination 0 0 0 0 0 0 0 0 Total operating free cash flow 498 491 617 314 1,920 594 608 1,202 Operational data in thousand and headcount in FTEs Operational data Switzerland Postpaid value wireless connections 4,403 4,412 4,427 4,431 4,431 4,421 4,418 4,418 Broadband connections 1,953 1,947 1,942 1,938 1,938 1,918 1,907 1,907 TV connections 1,481 1,475 1,468 1,462 1,462 1,445 1,435 1,435 Fixed telephony connections 1,070 1,052 1,033 1,013 1,013 989 969 969 Wholesale wireline access lines 742 749 763 768 768 782 795 795 Operational data Italy Wireless connections 20,214 20,207 20,168 20,054 20,054 19,907 19,803 19,803 Broadband connections 5,662 5,619 5,597 5,581 5,581 5,550 5,500 5,500 Wholesale wireless connections 6,787 7,336 8,060 8,082 8,082 8,190 5,856 5,856 Wholesale wireline access lines 968 1,018 1,063 1,126 1,126 1,194 1,243 1,243 Full-time equivalent employees Switzerland 13,262 13,141 13,043 12,919 12,919 12,761 12,542 12,542 Italy 7,220 7,165 7,152 7,179 7,179 7,185 7,203 7,203 Others 3,234 3,192 3,179 3,168 3,168 3,128 3,016 3,016 Total FTEs 23,717 23,498 23,374 23,266 23,266 23,073 22,761 22,761
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28 Interim Report January–June 2026 | Further information Disclaimer This Interim Report is published in English. No offer to sell or solicit The information provided in this communication does not constitute, and should not be construed as, an offer or an invitation to sell or issue, or a solicitation of an offer to buy, subscribe for or otherwise acquire or dispose of, any securities or other financial instruments, nor does it constitute a recommendation, investment advice or the basis for any third-party evaluation of Swisscom AG securities in any jurisdiction. Forward-looking statements This communication contains statements that constitute ‘forward- looking statements’. In this communication, such forward-looking statements include, without limitation, statements relating to Swisscom's financial condition, results of operations and business and certain of Swisscom's strategic plans and objectives. Because these forward-looking statements are subject to risks and uncertain- ties, actual future results may differ materially from those expressed in or implied by the statements. Many of these risks and uncertain- ties relate to factors that are beyond Swisscom’s ability to control or estimate precisely, such as future market conditions, currency fluc- tuations, the behaviour of other market participants, the actions of governmental regulators and other risk factors detailed in Swisscom’s, Fastweb’s and Vodafone Italia’s (Fastweb + Vodafone) past and future filings and reports, including those filed with the U.S. Securities and Exchange Commission, and in past and future filings, press releases, reports and other information posted on Swisscom Group Companies’ websites. Readers are cautioned not to put undue reliance on forward- looking statements, which speak only of the date of this communi- cation. Swisscom disclaims any intention or obligation to update, revise or correct any forward-looking statements or other information contained herein, except as required by applicable law, future events or otherwise. Alternative performance measures (non-IFRS financial measures) This communication may include selected alternative performance measures (APMs), i.e. financial measures not presented in accordance with IFRS Accounting Standards (IFRS). For the definition of the APMs, please refer to the section on ‘ Alternative performance measures’ in Swisscom's financial reports. These alternative performance meas- ures provide useful information on the Group’s financial position and serve financial management and control purposes, and should not be viewed as substitutes for IFRS measures of performance or liquidity as presented in Swisscom's IFRS financial statements. As these meas- ures are not defined under the IFRS, calculations may differ from the published APMs of other companies, which may in turn limit compara- bility across companies. Information, sources and no reliance This communication may contain estimates. Swisscom's internal esti- mates have not been verified by an external expert, and Swisscom cannot guarantee that a third-party using different methods to assemble, analyse or compute data would obtain or generate the same results. To the extent available, the industry, market and competitive position data or predictions contained in this communication come from official or third-party sources believed to be reliable. Swisscom has not verified the accuracy and completeness of such information contained in this communication. Swisscom's competitors may define the markets differently. Swisscom disclaims any intention or obligation to update and revise any forward-looking statements, whether as a result of new informa- tion, future events or otherwise.