Interim report
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1I Report Interim 2026 January–September
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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 Equity 19 5 Financial liabilities 19 6 Financial result 20 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 30.9.2026 30.9.2025 Change in % Financial data1 Revenue 10,936 11,175 (240) –2.1% EBITDA after lease expense (EBITDAaL) 3,833 3,777 56 1.5% Capital expenditure 2,043 2,171 (128) –5.9% Operating free cash flow 1,790 1,606 184 11.5% Free cash flow 1,445 1,060 385 36.3% Net income 1,011 988 23 2.4% Equity 12,539 11,971 568 4.7% Net debt 14,805 15,919 (1,114) –7.0% Operational data Switzerland Postpaid value wireless connections thousand 4,428 4,427 1 0.0% Broadband connections thousand 1,896 1,942 (46) –2.4% TV connections thousand 1,427 1,468 (40) –2.7% Fixed telephony connections thousand 949 1,033 (84) –8.2% Wholesale wireline access lines thousand 808 763 45 5.9% Operational data Italy Wireless connections thousand 19,651 20,168 (517) –2.6% Broadband connections thousand 5,450 5,597 (148) –2.6% Wholesale wireless connections thousand 4,773 8,060 (3,287) –40.8% Wholesale wireline access lines thousand 1,283 1,063 220 20.6% Swisscom share Number of issued shares thousand 51,802 51,802 – – Market capitalisation 32,842 29,915 2,927 9.8% Closing price CHF 634.00 577.50 56.50 9.8% Employees Full-time equivalent employees number 22,647 23,374 (727) –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–September 2026 | KPIs segments KPIs segments In CHF million 1.1.–30.9.2026 1.1.–30.9.2025 Change in % Revenue Switzerland 5,826 5,862 (36) –0.6% Italy 4,864 5,053 (189) –3.7% Others 705 781 (76) –9.7% Elimination (459) (521) 62 –11.9% Revenue 10,936 11,175 (240) –2.1% EBITDA after lease expense (EBITDAaL) Switzerland 2,530 2,564 (34) –1.3% Italy 1,266 1,168 98 8.4% Others 77 93 (16) –17.0% Elimination (40) (48) 8 –16.1% EBITDAaL 3,833 3,777 56 1.5% Capital expenditure Switzerland 1,149 1,228 (79) –6.5% Italy 900 949 (49) –5.1% Others 25 29 (4) –14.2% Elimination (31) (36) 4 –12.5% Capital expenditure 2,043 2,171 (128) –5.9% Operating free cash flow Switzerland 1,381 1,336 46 3.4% Italy 366 219 147 67.0% Others 52 63 (12) –18.4% Elimination (9) (12) 3 –26.3% Operating free cash flow 1,790 1,606 184 11.5%
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5 Financial review Summary Group revenue decreased by 2.1% to CHF 10,936 million. Based on a constant CHF/EUR exchange rate, revenue in the first nine months of 2026 decreased by 1.5% or CHF 164 million. Switzerland’s revenue fell by 0.6% and Italy’s by 2.2% (in EUR), mainly due to lower revenue from telecommunications services. Operating income before depreciation and amortisation after lease expense (EBITDAaL) increased by 1.5% to CHF 3,833 million. EBITDAaL development was influenced not only by currency effects but also by non-recurring items. These items were connected with the integration of Vodafone Italia, restructuring costs, legal and other provisions and the reconciliation of pension cost. On an adjusted basis and at constant currency exchange rates, EBITDAaL increased by CHF 113 million (+3.0%), mainly driven by the Italy segment. The adjusted EBITDAaL of the Italy segment was up by EUR 100 million (+7.7%); the adjusted EBITDAaL of Switzerland increased by CHF 31 million (+1.2%). The Group’s capital expenditure decreased by 5.9% to CHF 2,043 million. Capital expenditure for Italy included expenditure for the consolidation of mobile sites on the INWIT network and the integration of Vodafone Italia. On an adjusted basis and at constant currency exchange rates, the Group’s capital expenditure declined by 6.4%. Switzerland’s capital expenditure fell by 6.5% and Italy’s by 6.3% (in EUR). Operating free cash flow rose by 11.5% to CHF 1,790 million. On an adjusted basis and at constant currency exchange rates, the increase in the operating free cash flow amounted to CHF 248 million or 14.5%. About two-fifths of the rise resulted from Switzerland (CHF +110 million) and three-fifths from Italy (CHF +149 million). Free cash flow of CHF 1,445 million was up year-on-year by CHF 385 million, mainly driven by the increase in the operating free cash flow as well as a better development of the net working capital. Net income rose by CHF 23 million (+2.4%) to CHF 1,011 million, mainly due to a higher EBITDAaL. The number of Swisscom employees decreased year-on-year by 727 FTEs or 3.1% to 22,647 FTEs. In the Switzerland and Others segments, FTEs fell by 577 or 4.4% to 12,466 FTEs and by 211 or 6.6% to 2,968 FTEs, respectively. In the Italy segment, FTEs slightly increased by 61 FTEs or 0.8% to 7,212 FTEs. The decline in the Switzerland segment is due to a decrease in FTEs in the areas of customer care, IT business and network & infrastructure. The financial outlook for the 2026 financial year is confirmed, with operating free cash flow and leverage slightly better. 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, oper- ating free cash flow higher than CHF 2.0 billion (so far: around CHF 2.0 billion), and leverage below 2.3x (so far: around 2.3x) as of the end of 2026. Subject to achieving its targets, Swisscom confirms the plan to propose an increase in dividend per share from CHF 26 to CHF 27 for the financial year 2026 at the 2027 Annual General Meeting.
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6 Interim Report January–September 2026 | Financial review Switzerland In CHF million, except where indicated 1.1.–30.9.2026 1.1.–30.9.2025 Change in % Financial data Residential customers 3,174 3,193 (19) –0.6% Business customers 2,190 2,225 (35) –1.6% Wholesale customers 403 398 5 1.2% Other 11 11 (0) –0.1% External revenue 5,779 5,828 (49) –0.8% Intersegment revenue 47 34 13 37.7% Revenue 5,826 5,862 (36) –0.6% Direct costs (1,164) (1,165) 1 –0.1% Indirect costs (2,131) (2,133) 2 –0.1% Operating expense (3,295) (3,298) 3 –0.1% EBITDA after lease expense (EBITDAaL) 2,530 2,564 (34) –1.3% Capital expenditure (1,149) (1,228) 79 –6.5% Operating free cash flow 1,381 1,336 46 3.4% Operational data in thousand and headcount in FTEs Postpaid value wireless connections 4,428 4,427 1 0.0% Broadband connections 1,896 1,942 (46) –2.4% TV connections 1,427 1,468 (40) –2.7% Fixed telephony connections 949 1,033 (84) –8.2% Wholesale wireline access lines 808 763 45 5.9% Full-time equivalent employees 12,466 13,043 (577) –4.4% The revenue of the Switzerland segment decreased year-on-year by 0.6% or CHF 36 million to CHF 5,826 million. Revenue from residential customers dropped by CHF 19 million to CHF 3,174 million (–0.6%). The decrease is mainly due to a decline in telecommunications services (CHF –25 million or –0.9%). In the business customer area, revenue dropped by CHF 35 million to CHF 2,190 million (–1.6%), the tele- communication services declined by CHF 47 million (–4.3%) and the revenue from IT services by CHF 4 million (–0.5%). In contrast, the hard- and software revenue increased by CHF 18 million (+7.6%). In a challenging market environment, there was a reduction in the number of connections for broadband (–2.4%) and TV (–2.7%). In contrast, the number of postpaid value wireless connections remained stable. The number of connections for fixed network telephony dropped (–8.2%) as a result of its substitution with wireless telephony. The operating expense remained fairly unchanged (–0.1%). Direct costs also remained stable (–0.1%) as higher costs for goods and services purchased were compensated by lower costs for network access and subscriber acquisition and retention. Indirect costs remained stable (–0.1%) but decreased on an adjusted basis by CHF 66 million (–3.1%). The non-recurring items included restructuring costs as well as legal and other provisions. In telecommunications, indirect cost savings of CHF 61 million were realised through efficiency improvement meas- ures. Operating income before depreciation and amortisation after lease expense (EBITDAaL) decreased by 1.3% to CHF 2,530 million but increased by 1.2% (CHF +31 million) on an adjusted basis. Cost effi- ciency measures mostly compensated the decline in revenue from telecommunications services. In addition, the contribution of the IT business has increased. Capital expenditure decreased by 6.5% or CHF 79 million to CHF 1,149 million due to lower investments in the access network and seasonal effects. As at the end of September 2026, Swisscom covered around 59% of households and businesses in Swit- zerland with optical fibre and 90% of the population with 5G+.
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7 Italy In EUR million, except where indicated 1.1.–30.9.2026 1.1.–30.9.2025 Change in % Financial data Residential customers 2,383 2,428 (45) –1.8% Business customers 2,257 2,344 (87) –3.7% Wholesale customers 605 595 10 1.7% Other 14 12 2 14.2% External revenue 5,259 5,379 (120) –2.2% Intersegment revenue 2 3 (0) –28.7% Revenue 5,262 5,383 (121) –2.2% Direct costs (2,295) (2,473) 178 –7.2% Indirect costs (1,597) (1,665) 68 –4.1% Operating expense (3,892) (4,138) 246 –5.9% EBITDA after lease expense (EBITDAaL) 1,370 1,244 125 10.1% Capital expenditure (974) (1,011) 37 –3.7% Operating free cash flow 396 233 162 69.6% Operational data in thousand and headcount in FTEs Wireless connections 19,651 20,168 (517) –2.6% Broadband connections 5,450 5,597 (148) –2.6% Wholesale wireless connections 4,773 8,060 (3,287) –40.8% Wholesale wireline access lines 1,283 1,063 220 20.6% Full-time equivalent employees 7,212 7,152 61 0.8% The revenue of the Italy segment decreased year-on-year by 2.2% or EUR 121 million to EUR 5,262 million. Revenue from residential customers fell by 1.8% or EUR 45 million to EUR 2,383 million. The lower revenue from telecommunication services of EUR 78 million (–3.5%), driven by the declining customer base. Revenue from business customers decreased by 3.7% or EUR 87 million to EUR 2,257 million, mainly driven by the lower revenue from telecommunication services and lower hard- and software revenue. Revenue from wholesale business increased by 1.7% or EUR 10 million to EUR 605 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 by 517 thousand to 19.7 million (–2.6%). The decreasing wireless residen- tial customer base (–565 thousand) could not be compensated by the increasing wireless business customer base (+48 thousand). The broad- band customer base dropped by 2.6% or 148 thousand to 5.5 million. The challenging market environment led to a decrease in the resi- dential customer base of 125 thousand and a decline in the business customer base of 23 thousand. The wholesale wireless customer base from mobile virtual network operators (MVNO) hosted on the Fastweb + Vodafone network dropped by 40.8% or 3.3 million to 4.8 million mainly due to the loss of major MVNO customers (Poste Mobile and Lyca Mobile). The number of wholesale wireline access lines provided to other operators rose by 20.6% or 220 thousand to 1.3 million. Operating expenses decreased by EUR 246 million (–5.9%), mainly driven by cost savings from synergy realisation, which amounted to EUR 265 million. In the first nine months of 2026, operating expenses included integration costs for Vodafone Italia in the amount of EUR 13 million (prior year: EUR 39 million) and a provision for legal proceed- ings in the amount of EUR 10 million. In the previous year, operating expenses included a provision for contractual risks in the amount of EUR 9 million. On an adjusted basis, operating result before depreci- ation and amortisation after lease expense (EBITDAaL) increased by EUR 100 million (+7.7%) due to the lower cost base. Capital expendi- ture decreased by EUR 37 million or 3.7% to EUR 974 million. In the first nine months of 2026, capital expenditure included EUR 10 million for the consolidation of mobile sites on the INWIT network (prior year: EUR 22 million) and EUR 87 million integration capital expenditure (prior year: EUR 53 million). Adjusted by those items, capital expenditure dropped by EUR 59 million or 6.3%, mainly because of lower invest- ments in the wireless and wireline access networks as well as lower customer-driven capital expenditure. As at the end of September 2026, Fastweb + Vodafone covered 63% of households and businesses in Italy with optical fibre. The mobile network reached 91% of the population with 5G.
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8 Interim Report January–September 2026 | Financial review Others In CHF million, except where indicated 1.1.–30.9.2026 1.1.–30.9.2025 Change in % Financial data External revenue 295 297 (2) –0.7% Intersegment revenue 410 484 (74) –15.3% Revenue 705 781 (76) –9.7% Direct costs (68) (66) (2) 3.4% Indirect costs (560) (623) 63 –10.1% Operating expense (628) (688) 60 –8.8% EBITDA after lease expense (EBITDAaL) 77 93 (16) –17.0% Capital expenditure (25) (29) 4 –14.2% Operating free cash flow 52 63 (12) –18.4% Headcount in FTEs Full-time equivalent employees 2,968 3,179 (211) –6.6% The revenue in the Others segment dropped by 9.7% or CHF 76 million year-on-year to CHF 705 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 17.0% or CHF 16 million to CHF 77 million, driven by the revenue decline. Depreciation and amortisation, non-operating results In CHF million, except where indicated 1.1.–30.9.2026 1.1.–30.9.2025 Change in % EBITDA after lease expense (EBITDAaL) 3,833 3,777 56 1.5% Lease expense 1,199 1,222 (23) –1.9% EBITDA 5,032 4,999 33 0.6% Depreciation and amortisation of property, plant and equipment and intangible assets (2,388) (2,330) (58) 2.5% Depreciation of right-of-use assets (1,157) (1,184) 27 –2.3% Operating income (EBIT) 1,487 1,485 2 0.1% Net interest expense on financial assets and liabilities (169) (175) 6 –3.2% Interest expense on lease liabilities (72) (79) 7 –9.1% Other financial result (12) (16) 3 –19.6% Income before income taxes 1,234 1,216 18 1.5% Income tax expense (223) (228) 5 –2.4% Net income 1,011 988 23 2.4% Earnings per share (in CHF) 19.53 19.09 0.44 2.4% Net income increased by CHF 23 million or 2.4% to CHF 1,011 million, mainly due to the higher EBITDAaL. Income tax expense amounted to CHF 223 million (prior year: CHF 228 million), which corresponds to an effective income tax rate of 18.1% (prior year: 18.8%).
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9 Cash flows In CHF million 1.1.–30.9.2026 1.1.–30.9.2025 Change Operating free cash flow 1,790 1,606 184 Change in net working capital 69 (215) 284 Other operating cash flows 14 13 1 Change in defined benefit obligations 16 16 (0) Net interest paid1 (132) (132) 0 Income taxes paid (312) (228) (84) Free cash flow 1,445 1,060 385 Net expenditure for company acquisitions and disposals (11) (15) 4 Dividend Swisscom Ltd (1,347) (1,140) (207) Other changes2 741 222 519 Decrease in net debt 828 127 701 1 Excluding interest payments for lease liabilities (already included in operating free cash flow). 2 Including foreign currency effects, fair value adjustments, issuance of hybrid capital and non-cash changes in net debt positions. Operating free cash flow rose by CHF 184 million to CHF 1,790 million (+11.5%). Of the operating free cash flow, CHF 1,381 million was attrib- utable to the Switzerland segment and CHF 366 million (EUR 396 million) to the Italy segment. Free cash flow grew by CHF 385 million to CHF 1,445 million (+36.3%), mainly due to an increase in the operating free cash flow and a better development of net working capital. Net working capital decreased by CHF 69 million compared with the end of 2025 (prior year: increase of CHF 215 million). Tax payments rose by CHF 84 million to CHF 312 million mainly due to additional tax payments relating to prior years. Net asset position In CHF million 30.9.2026 31.12.2025 Change Trade receivables 2,446 2,494 (48) Trade payables (2,332) (2,386) 54 Provisions (1,531) (1,586) 55 Other operating assets and liabilities, net (331) (186) (144) Net working capital (1,748) (1,665) (84) Property, plant and equipment 13,730 13,663 68 Intangible assets 5,420 5,682 (262) Goodwill 6,610 6,575 35 Right-of-use assets 3,693 3,949 (256) Receivables from finance leases 144 170 (26) Net operating assets 27,849 28,374 (525) Net debt (14,805) (15,633) 828 Defined benefit obligations (57) (50) (6) Income tax assets and liabilities, net (674) (759) 85 Equity-accounted investees and other financial assets 227 306 (79) Equity 12,539 12,238 301 Equity ratio in % 35.3 34.0 Net operating assets at CHF 27.9 billion were CHF 0.5 billion lower compared with the end of 2025. Depreciation and amortisation of non-current operating assets was higher than investments. Equity was up by CHF 0.3 billion to CHF 12.5 billion. The increase was attributable to the net income for the first nine months of 2026 of CHF 1.0 billion and the issuance of a hybrid bond of CHF 0.5 billion less the dividend of Swisscom Ltd of CHF 1.3 billion for the financial year 2025. The equity ratio increased from 34.0% to 35.3% compared with the end of 2025.
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10 Interim Report January–September 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 30.9.2026 31.12.2025 Change Debenture bonds 11,635 11,139 496 Bank loans 269 1,103 (834) Private placements 321 322 (1) Other financial liabilities 395 426 (30) Lease liabilities 3,480 3,729 (249) Total financial liabilities and lease liabilities 16,100 16,719 (618) Cash and cash equivalents (443) (258) (185) Other financial assets (853) (828) (25) Net debt 14,805 15,633 (828) As at 30 September 2026, the average interest expense on finan- cial liabilities was 1.79%, the average residual term to maturity was 5.5 years and the share of fixed-interest-bearing financial liabilities was 97%. 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 >2.01 1.6–1.7 0.3–0.4 Net debt/EBITDA ratio 2.4x <2.3x2 Dividend per share (in CHF) 26 27 1 So far, CHF ~2.0 billion. 2 So far, ~2.3x. The previously communicated financial outlook for the financial year 2026 is confirmed, with operating free cash flow and leverage slightly better. 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 up to 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 of around EUR 150 million. The guid- ance for operating free cash flow 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 below 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 confirms the plan to propose an increase in dividend per share from CHF 26 to CHF 27 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.–30.9.2026 1.1.–30.9.2025 Income statement Revenue 2 10,936 11,175 Direct costs 3 (2,667) (2,873) Personnel expense 3 (2,248) (2,281) Other operating expense 3 (1,612) (1,752) Capitalised self-constructed assets and other income 3 624 730 Operating income before depreciation and amortisation 5,032 4,999 Depreciation and amortisation of property, plant and equipment and intangible assets (2,388) (2,330) Depreciation of right-of-use assets (1,157) (1,184) Operating income 1,487 1,485 Financial income 6 36 28 Financial expense 6 (289) (298) Result of equity-accounted investees – 1 Income before income taxes 1,234 1,216 Income tax expense (223) (228) Net income 1,011 988 Other comprehensive income Actuarial gains and losses from defined benefit pension plans 6 13 Change in fair value of equity instruments 7 (12) Items that will not be reclassified to income statement 13 1 Foreign currency translation adjustments of foreign subsidiaries 105 (29) Change in cash flow hedges 54 (4) Items that may be reclassified to income statement 159 (33) Other comprehensive income 172 (32) Comprehensive income Net income 1,011 988 Other comprehensive income 172 (32) Comprehensive income 1,183 956 Share of net income and comprehensive income Equity holders of Swisscom Ltd 1,012 989 Non-controlling interests (1) (1) Net income 1,011 988 Equity holders of Swisscom Ltd 1,184 957 Non-controlling interests (1) (1) Comprehensive income 1,183 956 Earnings per share Basic and diluted earnings per share (in CHF) 19.53 19.09
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12 Interim Report January–September 2026 | Consolidated interim financial statements Consolidated balance sheet (unaudited) In CHF million Note 30.9.2026 31.12.2025 Assets Cash and cash equivalents 443 258 Trade receivables 7 2,446 2,494 Receivables from finance leases 36 34 Other operating assets 7 1,522 1,648 Other financial assets 543 598 Current income tax assets 94 96 Total current assets 5,084 5,128 Property, plant and equipment 13,730 13,663 Intangible assets 5,420 5,682 Goodwill 6,610 6,575 Right-of-use assets 3,693 3,949 Equity-accounted investees 27 26 Receivables from finance leases 108 136 Other financial assets 510 510 Deferred tax assets 380 354 Total non-current assets 30,478 30,895 Total assets 35,562 36,023 Liabilities and equity Financial liabilities 5 1,259 1,216 Lease liabilities 955 898 Trade payables 7 2,332 2,386 Other operating liabilities 7 1,781 1,761 Provisions 8 157 179 Current income tax liabilities 244 308 Total current liabilities 6,728 6,748 Financial liabilities 5 11,361 11,773 Lease liabilities 2,526 2,831 Defined benefit obligations 57 50 Provisions 8 1,375 1,408 Deferred gain on sale and leaseback of real estate 71 74 Deferred tax liabilities 905 901 Total non-current liabilities 16,295 17,037 Total liabilities 23,023 23,785 Share capital 52 52 Capital reserves 136 136 Hybrid capital 4 467 – Retained earnings 11,887 14,216 Foreign currency translation adjustments – (2,145) Hedging reserves – (20) Equity attributable to equity holders of Swisscom Ltd 12,542 12,239 Non-controlling interests (3) (1) Total equity 12,539 12,238 Total liabilities and equity 35,562 36,023
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13 Consolidated statement of cash flows (unaudited) In CHF million Note 1.1.–30.9.2026 1.1.–30.9.2025 Net income 1,011 988 Income tax expense 223 228 Result of equity-accounted investees – (1) Financial income 6 (36) (28) Financial expense 6 289 298 Depreciation and amortisation of property, plant and equipment and intangible assets 2,388 2,330 Depreciation of right-of-use assets 1,157 1,184 Gain on sale of property, plant and equipment (6) (19) Loss on sale of property, plant and equipment – 2 Expense for share-based payments 1 1 Revenue from finance leases (49) (73) Proceeds from finance leases 88 66 Change in deferred gain from the sale and leaseback of real estate (3) (2) Change in operating assets and liabilities 7 135 (53) Change in provisions (63) (160) Change in defined benefit obligations 16 16 Interest received (3) 10 Interest paid on financial liabilities (129) (142) Interest paid on lease liabilities (72) (79) Dividends received 1 1 Income taxes paid (312) (228) Cash flow from operating activities 4,636 4,339 Purchase of property, plant and equipment and intangible assets (2,022) (2,138) Proceeds from sale of property, plant and equipment and intangible assets 7 21 Acquisition of subsidiaries, net of cash and cash equivalents acquired (20) (16) Purchase of other financial assets (8) (15) Proceeds from other financial assets 124 41 Other cash flows from investing activities (16) (18) Cash flow used in investing activities (1,935) (2,124) Issuance of financial liabilities 5 1,039 1,414 Repayment of financial liabilities 5 (1,518) (2,662) Repayment of lease liabilities (1,159) (1,144) Issuance of hybrid capital 4 465 – Dividends paid to equity holders of Swisscom Ltd (1,347) (1,140) Other cash flows from financing activities (2) (10) Cash flow used in financing activities (2,522) (3,542) Net increase (net decrease) in cash and cash equivalents 179 (1,327) Cash and cash equivalents at 1 January 258 1,523 Foreign currency translation adjustments in respect of cash and cash equivalents 6 (3) Cash and cash equivalents at 30 September 443 193
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14 Interim Report January–September 2026 | Consolidated interim financial statements Consolidated statement of changes in equity (unaudited) In CHF million Share capital Capital reserves Hybrid capital 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 – – – 989 – – 989 (1) 988 Other comprehensive income – – – 1 (29) (4) (32) – (32) Compre- hensive income – – – 990 (29) (4) 957 (1) 956 Dividends paid – – – (1,140) – – (1,140) – (1,140) Other changes – – – 1 – – 1 – 1 Balance at 30 September 2025 52 136 – 13,921 (2,110) (27) 11,972 (1) 11,971 Balance at 1 January 2026 52 136 – 14,216 (2,145) (20) 12,239 (1) 12,238 Net income – – – 1,012 – – 1,012 (1) 1,011 Other comprehensive income – – – 13 105 54 172 – 172 Compre- hensive income – – – 1,025 105 54 1,184 (1) 1,183 Issuance – – 467 (2) – – 465 – 465 Dividends paid – – – (1,347) – – (1,347) – (1,347) Other changes – – – – – – – (1) (1) Balance at 30 September 2026 52 136 467 13,893 (2,040) 34 12,542 (3) 12,539
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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 September 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 Worb- laufen. 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 4 November 2026. There were no events after the reporting date. Basis of preparation The consolidated interim financial statements for the nine months to 30 September 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 statements and the revised accounting principles described below. In preparing the consolidated interim financial statements, management 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 0.948 was used as the closing rate (31 December 2025: CHF/EUR 0.931) and 0.924 as the average rate for the period (prior year: CHF/EUR 0.939). 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–September 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 1,199 million (prior year: CHF 1,223 million) are allocated to direct costs (current year: CHF 641 million; prior year CHF 656 million) and other indirect costs (current year: CHF 558 million; prior year: CHF 567 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 elimina- tion column. The elimination column in the segment result, which totals CHF –40 million (prior year: CHF –48 million), includes expense of CHF 9 million (prior year: expense CHF 12 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 nine months of 2026 includes IRU acquisitions of CHF 21 million (prior year: CHF 33 million). Segment information 2026 1.1.–30.9.2026, in CHF million Switzerland Italy Others Elimination Total Residential customers 3,174 2,203 – – 5,377 Business customers 2,190 2,086 295 – 4,572 Wholesale customers 403 560 – – 963 Other 11 13 – – 24 External revenue 5,779 4,862 295 – 10,936 Intersegment revenue 47 2 410 (459) – Revenue 5,826 4,864 705 (459) 10,936 Direct costs (1,164) (2,122) (68) 46 (3,308) Personnel expense (1,566) (387) (292) (4) (2,248) Other indirect costs (565) (1,089) (268) 377 (1,546) EBITDA after lease expense (EBITDAaL) 2,530 1,266 77 (40) 3,833 Lease expense 1,199 Operating income before depreciation and amortisation (EBITDA) 5,032 Depreciation and amortisation of property, plant and equipment and intangible assets (2,388) Depreciation of right-of-use assets (1,157) Operating income (EBIT) 1,487 Financial income 36 Financial expense (289) Result of equity-accounted investees – Income before income taxes 1,234 Income tax expense (223) Net income 1,011 EBITDA after lease expense (EBITDAaL) 2,530 1,266 77 (40) 3,833 Capital expenditure (1,149) (900) (25) 31 (2,043) Operating free cash flow 1,381 366 52 (9) 1,790
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17 Segment information 2025 1.1.–30.9.2025, in CHF million Switzerland Italy Others Elimination Total Residential customers 3,193 2,279 – – 5,472 Business customers 2,225 2,200 297 – 4,723 Wholesale customers 398 559 – – 957 Other 11 12 – – 23 External revenue 5,828 5,050 297 – 11,175 Intersegment revenue 34 3 484 (521) – Revenue 5,862 5,053 781 (521) 11,175 Direct costs (1,165) (2,322) (66) 24 (3,529) Personnel expense (1,587) (382) (303) (9) (2,281) Other indirect costs (546) (1,181) (319) 458 (1,589) EBITDA after lease expense (EBITDAaL) 2,564 1,168 93 (48) 3,777 Lease expense 1,222 Operating income before depreciation and amortisation (EBITDA) 4,999 Depreciation and amortisation of property, plant and equipment and intangible assets (2,330) Depreciation of right-of-use assets (1,184) Operating income (EBIT) 1,485 Financial income 28 Financial expense (298) Result of equity-accounted investees 1 Income before income taxes 1,216 Income tax expense (228) Net income 988 EBITDA after lease expense (EBITDAaL) 2,564 1,168 93 (48) 3,777 Capital expenditure (1,228) (949) (29) 36 (2,171) Operating free cash flow 1,336 219 63 (12) 1,606
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18 Interim Report January–September 2026 | Notes to the interim financial statements 3 Operating costs Direct costs In CHF million 1.1.–30.9.2026 1.1.–30.9.2025 Customer premises equipment and merchandise 1,035 1,022 Services purchased 726 815 Costs to obtain a contract 375 370 Costs to fulfil a contract 16 52 Network access costs 435 540 Allowances for receivables and contract assets 79 74 Total direct costs 2,667 2,873 Indirect costs In CHF million 1.1.–30.9.2026 1.1.–30.9.2025 Salary and social security expenses 2,162 2,216 Other personnel expense 86 65 Total personnel expense 2,248 2,281 Information technology cost 286 252 Maintenance expense 214 223 Energy costs 334 330 Advertising and selling expenses 150 149 Consultancy expenses and freelance workforce 74 81 Network capacity rental 45 54 Call centre services purchased 92 107 Administration expense 32 30 Miscellaneous operating expenses 386 526 Total other operating expense 1,612 1,752 Capitalised self-constructed tangible and intangible assets (495) (502) Own work for capitalised contract costs (17) (23) Gain on sale of property, plant and equipment (6) (19) Miscellaneous income (106) (186) Total capitalised self-constructed assets and other income (624) (730) Total indirect costs 3,237 3,303 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.
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19 4 Equity 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. Hybrid capital In August 2026, Swisscom issued subordinated perpetual fixed rate resettable capital securities (hybrid bond) in the amount of EUR 500 million (CHF 467 million) to refinance existing debt. The hybrid bond has no fixed maturity date and ranks junior to Swisscom’s other debt obli- gations but senior to other instruments classified as equity. Trans action costs attributable to the issuance have been deducted from equity. The hybrid bond bears interest at a fixed rate of 4.125% per annum until 27 February 2032 (the first reset date). Thereafter, the interest rate is reset on each reset date to the applicable five-year swap rate plus a margin. Swisscom may defer interest payments at its discretion. Interest on the hybrid bond must be paid to investors if Swisscom distributes dividends. If no dividend is distributed, Swisscom decides separately on the payment of interest on the hybrid bond. Any unpaid interest is cumulative and will be paid if a dividend is distributed or if the management decides to make an interest payment. Accrued interest relating to the current interest period of EUR 2 million (CHF 2 million) has not been recognised as a liability as at 30 September 2026, as Swisscom has no obligation to pay interest at that date. Swisscom has the right to redeem the hybrid bond on any business day from 27 November 2031 (first optional par redemption date) to the first reset date, and on any interest payment date thereafter. In addition, the hybrid bond may among others become redeemable if another shareholder than the Swiss Confederation can exercise control over Swisscom Ltd. Holders of the hybrid bond do not have control rights or voting rights at the general meeting of shareholders of Swisscom Ltd. 5 Financial liabilities In CHF million Carrying amount 1.1.2026 Issuance Repayment Other changes1 Carrying amount 30.9.2026 Fair value Financial liabilities Bank loans 1,103 5 (838) – 269 272 Debenture bonds 11,139 1,035 (656) 117 11,635 11,405 Private placements 322 – – (1) 321 320 Derivative financial instruments 164 – (8) (8) 148 148 Other financial liabilities 262 – (15) 1 247 235 Total financial liabilities 12,989 1,039 (1,518) 110 12,620 12,380 1 Interest expense, interest payments, non-cash changes and foreign currency translation adjustments. In the first nine 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. In the third quarter of 2026, debenture bonds in the amount of CHF 200 million and EUR 500 million (EUR 456 million) were repaid by the due date. 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 September 2026, none of the credit lines had been used.
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20 Interim Report January–September 2026 | Notes to the interim financial statements 6 Financial result In CHF million 1.1.–30.9.2026 1.1.–30.9.2025 Interest income on financial assets 8 9 Foreign exchange gains 10 3 Other financial income 18 16 Total financial income 36 28 Interest expense on financial liabilities (177) (184) Interest expense on lease liabilities (72) (79) Interest and present-value adjustments on provisions (10) (4) Change in fair value of interest rate swaps (3) (5) Other financial expense (28) (26) Total financial expense (289) (298) Financial income and financial expense, net (254) (270) Net interest expense on financial assets and liabilities (169) (175) Interest expense on lease liabilities (72) (79) 7 Net current operating assets Operating assets and liabilities changed as follows in the first nine months of 2026: In CHF million 1.1.2026 Operational changes Other changes1 30.9.2026 Trade receivables 2,494 (74) 26 2,446 Other operating assets 1,648 (216) 90 1,522 Trade payables (2,386) 83 (29) (2,332) Other operating liabilities (1,761) 72 (93) (1,781) Total operating assets and liabilities, net (5) (135) (6) (146) 1 Foreign currency translation and adjustments from acquisition and sale of subsidiaries.
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21 Other operating assets and liabilities In CHF million 30.9.2026 31.12.2025 Other operating assets Contract assets 200 200 Contract costs 474 487 Other receivables 110 191 Inventories 199 189 Prepaid expenses 448 443 Advance payments made 39 34 Value-added taxes receivable 3 68 Other non-financial assets 49 37 Total other operating assets 1,522 1,648 Other operating liabilities Contract liabilities 1,118 1,114 Accruals for variable performance-related bonus 169 200 Value-added taxes payable 156 96 Accruals for annual holiday, overtime 77 63 Liabilities from collection activities 17 18 Miscellaneous liabilities 245 270 Total other operating liabilities 1,781 1,761 8 Provisions and contingent liabilities Provisions In CHF million Asset retirement obligations Legal proceedings Other Total Balance at 1 January 2026 1,070 197 319 1,586 Additions to provisions – 10 72 82 Adjustments recorded under property, plant and equipment (10) – – (10) Interest and present-value adjustments 10 2 – 12 Release of unused provisions – (18) (6) (25) Use of provisions (15) (55) (50) (120) Foreign currency translation adjustments 3 1 2 6 Balance at 30 September 2026 1,058 137 337 1,532 Thereof current provisions 15 26 116 157 Thereof non-current provisions 1,043 111 221 1,375 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 September 2026.
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22 Interim Report January–September 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 September 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.–30.9.2026 1.1.–30.9.2025 Change EBITDA after lease expense (EBITDAaL) Operating income before depreciation and amortisation 5,032 4,999 33 Depreciation of right-of-use assets (1,157) (1,184) 27 Depreciation of indefeasible rights of use (IRU) 30 41 (11) Interest expense on lease liabilities (72) (79) 7 EBITDA after lease expense (EBITDAaL) 3,833 3,777 56 Capital expenditure Purchase of property, plant and equipment and intangible assets 2,022 2,138 (116) Acquisition of indefeasible rights of use (IRU) 21 33 (12) Capital expenditure 2,043 2,171 (128) Operating free cash flow Cash flow from operating activities 4,636 4,339 297 Purchase of property, plant and equipment and intangible assets (2,022) (2,138) 116 Acquisition of indefeasible rights of use (IRU) (20) (33) 13 Depreciation of right-of-use assets (1,157) (1,184) 27 Depreciation of indefeasible rights of use (IRU) 30 41 (11) Proceeds from finance lease receivables (88) (66) (22) Change in deferred gain from the sale and leaseback of real estate 3 2 1 Change in operating assets and liabilities (135) 53 (188) Change in provisions 63 160 (97) Change in defined benefit obligations (16) (16) – Gain on sale of property, plant and equipment 6 19 (13) Loss on sale of property, plant and equipment – (2) 2 Expense for share-based payments (1) (1) – Revenue from finance leases 49 73 (24) Interest received 3 (10) 13 Interest paid on financial liabilities 129 142 (13) Dividends received (1) (1) – Income taxes paid 312 228 84 Operating free cash flow 1,790 1,606 184 Free cash flow Cash flow from operating activities 4,636 4,338 298 Cash flow used in investing activities (1,935) (2,124) 189 Repayment of lease liabilities (1,159) (1,144) (15) Proceeds from equity-accounted investees – (1) 1 Acquisition of subsidiaries, net of cash and cash equivalents acquired 20 16 4 Purchase of other financial assets 8 15 (7) Proceeds from other financial assets (124) (43) (81) Other cash flows from investing activities (1) 3 (4) Free cash flow 1,445 1,060 385
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24 Interim Report January–September 2026 | Alternative performance measures In CHF million 1.1.–30.9.2026 1.1.–30.9.2025 Change Change at constant exchange rates Revenue 10,936 11,175 –2.1% –1.5% EBITDA after lease expense (EBITDAaL) 3,833 3,777 1.5% 2.0% Provisions for legal proceedings Switzerland – (90) Provisions for contractual risks Switzerland – 52 Restructuring costs Switzerland 39 12 Provisions for legal proceedings Italy 9 – Provisions for contractual risks Italy – 8 Integration cost Vodafone Italia 12 37 Pension cost (IAS 19 reconciliation) 9 12 EBITDAaL, adjusted 3,902 3,808 2.5% 3.0% Capital expenditure 2,043 2,171 –5.9% –5.3% INWIT mobile site consolidation (9) (21) Integration capital expenditure Vodafone Italia (80) (50) Capital expenditure, adjusted 1,954 2,100 –7.0% –6.4% Operating free cash flow 1,790 1,606 11.5% 12.0% EBITDAaL adjustments 69 32 Capital expenditure adjustments 89 70 Operating free cash flow, adjusted 1,948 1,708 14.1% 14.5%
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25 Further information Share information Swisscom share performance indicators 31.12.2025–30.9.2026 SIX Swiss Exchange Closing price as at 31 December 2025 in CHF1 575.50 Closing price as at 30 September 2026 in CHF1 634.00 Year high in CHF1 727.00 Year low in CHF1 570.50 Total volume of traded shares 15,498,594 Total turnover in CHF million 10,179 Daily average of traded shares 82,439 Daily average in CHF million 54 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 30.09.2026 In CHF 750 576 450 31.12 31.03 30.06 30.09 634 Swisscom SMIM (indexed) SPI (indexed) SMI (indexed) STOXX 600 EU Telco Index (in CHF, indexed)
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26 Interim Report January–September 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 3,715 10,936 Direct costs (1,188) (1,162) (1,179) (1,309) (4,838) (1,083) (1,080) (1,145) (3,308) Indirect costs (1,294) (1,328) (1,247) (1,356) (5,226) (1,235) (1,265) (1,295) (3,795) EBITDA after lease expense (EBITDAaL) 1,277 1,197 1,302 1,208 4,984 1,288 1,269 1,276 3,833 Lease expense 409 407 406 410 1,633 398 398 403 1,199 EBITDA 1,686 1,604 1,709 1,618 6,617 1,686 1,667 1,679 5,032 Depreciation and amortisation (773) (789) (768) (784) (3,114) (784) (799) (804) (2,388) Depreciation of right-of-use assets (394) (387) (402) (394) (1,578) (385) (384) (388) (1,157) Operating income (EBIT) 519 427 539 440 1,925 517 483 487 1,487 Financial income and financial expense, net (77) (104) (90) (89) (358) (113) (69) (72) (254) Equity-accounted investees – – 1 (0) – – – – – Income before income taxes (EBT) 442 324 450 351 1,567 404 414 415 1,234 Income tax expense (75) (65) (87) (69) (297) (72) (77) (73) (223) Net income 367 258 363 282 1,270 332 337 342 1,011 Earnings per share (in CHF) 7.08 5.00 7.01 5.44 24.53 6.41 6.51 6.61 19.53 Capital expenditure 780 706 685 894 3,065 693 661 688 2,043 Operating free cash flow 498 491 617 314 1,920 594 608 588 1,790 Free cash flow 471 25 564 373 1,433 586 131 728 1,445 Net debt 15,634 16,529 15,919 15,633 15,633 16,176 15,935 14,805 14,805
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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 1,956 5,826 Italy 1,717 1,663 1,673 1,778 6,831 1,596 1,594 1,674 4,864 Others 258 269 254 256 1,037 225 239 241 705 Elimination (178) (181) (162) (167) (688) (152) (152) (155) (459) Total revenue 3,759 3,687 3,730 3,873 15,048 3,606 3,615 3,715 10,936 EBITDA after lease expense (EBITDAaL) Switzerland 866 821 877 804 3,368 861 839 830 2,530 Italy 398 362 408 412 1,580 420 418 428 1,266 Others 29 31 33 2 95 19 26 32 77 Reconciliation pension cost (4) (4) (4) 0 (12) (2) (3) (4) (9) Elimination (12) (13) (11) (11) (47) (10) (11) (11) (31) Total EBITDAaL 1,277 1,197 1,302 1,208 4,984 1,288 1,269 1,276 3,833 Capital expenditure Switzerland 422 409 397 459 1,687 382 379 387 1,149 Italy 360 301 288 435 1,384 312 286 302 900 Others 10 9 11 10 40 9 7 10 25 Elimination (12) (13) (10) (11) (47) (10) (11) (11) (31) Total capital expenditure 780 706 685 894 3,065 693 661 688 2,043 Operating free cash flow Switzerland 444 411 480 345 1,681 478 460 443 1,381 Italy 38 61 120 (23) 196 108 132 126 366 Others 20 22 22 (8) 55 10 19 23 52 Reconciliation pension cost (4) (4) (4) 0 (12) (2) (3) (4) (9) Elimination 0 0 0 0 0 0 0 0 0 Total operating free cash flow 498 491 617 314 1,920 594 608 588 1,790 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 4,428 4,428 Broadband connections 1,953 1,947 1,942 1,938 1,938 1,918 1,907 1,896 1,896 TV connections 1,481 1,475 1,468 1,462 1,462 1,445 1,435 1,427 1,427 Fixed telephony connections 1,070 1,052 1,033 1,013 1,013 989 969 949 949 Wholesale wireline access lines 742 749 763 768 768 782 796 808 808 Operational data Italy Wireless connections 20,214 20,207 20,168 20,054 20,054 19,907 19,803 19,651 19,651 Broadband connections 5,662 5,619 5,597 5,581 5,581 5,550 5,500 5,450 5,450 Wholesale wireless connections 6,787 7,336 8,060 8,082 8,082 8,190 5,856 4,773 4,773 Wholesale wireline access lines 968 1,018 1,063 1,126 1,126 1,194 1,243 1,283 1,283 Full-time equivalent employees Switzerland 13,262 13,141 13,043 12,919 12,919 12,761 12,542 12,466 12,466 Italy 7,220 7,165 7,152 7,179 7,179 7,185 7,203 7,212 7,212 Others 3,234 3,192 3,179 3,168 3,168 3,128 3,016 2,968 2,968 Total FTEs 23,717 23,498 23,374 23,266 23,266 23,073 22,761 22,647 22,647
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28 Interim Report January–September 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.