32 slides from Sunrise Communications Ag Class A's earnings presentation, Nov 11, 2025
Slide 1: Q3 2025 Financial Results
Q3 2025 FINANCIAL RESULTS 11 11November November2025 2025 1
Slide 2: Disclaimer
Disclaimer No Offer to Sell or Solicit This presentation is not an offer to sell or a solicitation of offers to purchase or subscribe for any securities of Sunrise Communications AG (Sunrise) in any jurisdiction. This document is not a prospectus within the meaning of the Swiss Financial Services Ac
Slide 3: Summary Sunrise Q3 2025 results
Summary Sunrise Q3 2025 results Full-year Guidance confirmed despite softer Revenues • Solid mobile momentum (+20k Postpaid net adds) supported by improved B2B growth. Internet net adds (-7k net adds) impacted by 1 softer trading and long tail impact of UPC migrations on churn • Accelerated Adj. EBI
Slide 4: Commercial Performance
Commercial Performance Q3 2025 Results | 11 November 2025
Slide 5: Main Brand | New product launches including Home Security, Iconic Bundle and SuperSearch
Main Brand | New product launches including Home Security, «Iconic Bundle» and «SuperSearch» Home Security «Iconic Bundle» «SuperSearch» • Unique Home Security offer for • Premium package for discerning • Sunrise TV as the first provider in comprehensive, professional customers offering maximum Swit
Slide 6: B2B | SME Ready Connect & Pay launched combining cashless payments and high-speed Internet
B2B | “SME Ready Connect & Pay” launched combining cashless payments and high-speed Internet • Cost-effective: No acquisition costs, low transaction fees • Future-proof: Secure Business Internet, Nexi payment terminal with automatic updates, cybersecurity included • Ready to go immediately: Preconfi
Slide 7: Flanker Brands | Launch of CHmobile addresses C-Segment and completes segment coverage
Flanker Brands | Launch of “CHmobile” addresses C-Segment and completes Sunrise’s segment coverage Strategic Rationale • C-Segment1 (Budget) with increasing competitive activity and customer liquidity • CHmobile to complete Sunrise’s segment coverage as part of its multi-brand strategy Always Low Sw
Slide 8: Fixed Dynamics | Slower than anticipated stabilisation of Fixed Consumer Business
Fixed Dynamics | Slower than anticipated stabilisation of Fixed Consumer Business Long Tail impact of UPC Slower stabilisation of Fixed Consumer Business but clear actions for Migrations in Q3 improvements in 2026 Inflow Outflow Softer inflow driven by ramp-up of value- Churn still on elevated level
Slide 9: Commercial Results | Mobile proposition driving ARPU trends and moderate Fixed development
Commercial Results | Mobile proposition driving ARPU trends and moderate Fixed development 59 48 26 4 18 20 Net Adds impacted by a low-liquidity quarter and moderate fixed-line 12 33 performance Net Postpaid Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 • Mobile Postpaid improved sequentially due to B2B g
Slide 10: Financial Results
Financial Results Q3 2025 Results | 11 November 2025
Slide 11: Financial Summary | Continued Adj. EBITDAaL delivery driven by sustained cost discipline
Financial Summary | Continued Adj. EBITDAaL delivery driven by sustained cost discipline & incidentials in CHFm, YoY Q3 Q3 9M 9M 2024 2025 Δ 2024 2025 Δ Commentary on Q3 2025 Financials Revenue 749 741 (1.1%) 2,233 2,195 (1.7%) • Revenue (1.1%) YoY mainly due to continued Fixed Subscription Revenue
Slide 12: Revenue | Tempered Fixed Subscription Revenue recovery partially offset by strong Wholesale Revenues
Revenue | Tempered Fixed Subscription Revenue recovery partially offset by strong Wholesale Revenues Revenue in CHFm, YoY Mobile Fixed 1 Residential: Subscription • Fixed Subscription Revenue trends driven by softer inflow, post- (8) promotional re-pricings and slower churn improvement (16) (1.1%) •
Slide 13: Adj. EBITDAaL | YoY growth as a result of continued Opex efficiency
Adj. EBITDAaL | YoY growth as a result of continued Opex efficiency & incidentials Adj. EBITDAaL • 1 Gross Profit in CHFm, YoY • Residential decline driven mainly by lower Fixed Subscription Revenue and partially offset by reduced direct usage costs • B2B & WHS decrease mainly due to Subscription Re
Slide 14: Adj. EBITDAaL less P&E Additions & Adj. FCF | Growth due to different Capex phasing
Adj. EBITDAaL less P&E Additions & Adj. FCF | Growth due to different Capex phasing and YoY debt reduction Adj. EBITDAaL less P&E Additions Adj. FCF in CHFm, YoY in CHFm, YoY +12 +31 +7.6% n.m. 2 (4) 164 (5) 6 (15) 37 5 Adj. EBITDAaL less (3) 39 152 6 P&E Add.: CHF 12m o/w leases CHF +3.3m Total Q3
Slide 15: Outlook | 2025 Guidance re-confirmed
Outlook | 2025 Guidance re-confirmed 2025 Guidance (IFRS, rebased) Rebasing of 2024 Adj. EBITDAaL • FY 2024 Adj. EBITDAaL of CHF 1,030m to be rebased by incremental recurring Standalone Revenue Broadly stable costs in the amount of c. CHF 30m+ for FY 2024 (expected at the lower end of range) • Rebas
Slide 16: Debt Structure | Improved maturity profile, commitment to de-lever further
Debt Structure | Improved maturity profile, commitment to de-lever further Overview of debt structure and net debt (in CHFm) 31 Dec 20241 30 Sep 20252 • October 20256: Private placement add-on of EUR 385m of 4.625% Senior Secured Notes due 2032 and tap of Term Loan Senior Credit Facilities 2’239 1,5
Slide 17: ADS | Imminent termination of sponsored Class A ADS program and further steps
ADS | Imminent termination of sponsored Class A ADS program and further steps • Termination of the sponsored Class A ADS program to take effect on 13 November 2025 • ~93% of the Class A ADS have been exchanged for Sunrise Class A shares on a net basis as of 10 November 2025 • ~5 million Class A ADS
Slide 18: Final remarks
Final remarks Q3 2025 Results | 11 November 2025
Slide 19: Key Takeaways
Key Takeaways Well positioned for a high-liquidity Q4 with completed segment 1 coverage and new growth avenues; FY 2025 Guidance re-confirmed Fixed Consumer business stabilisation slower than expected, 2 but cost and Capex efficiencies reaffirming mid-term outlook of increasing Free Cash Flows 3 Spo
Slide 20: Q&A
Q&A Q3 2025 Results | 11 November 2025 20
Slide 21: Appendix
Appendix Q3 2025 Results | 11 November 2025
Slide 22: Q3 2024 Revenue split: Changes in product hierarchy and Legacy UPC customer shifts to B2B
Q3 2024 Revenue split: Changes in product hierarchy and Legacy UPC customer shifts to B2B 1 Adjustment in product Revenue split Reclassification Walkthrough Q3 20241 (in CHFm) hierarchy within Residential customers B2B & Wholesale Residential Customers Legacy and B2B & WHS reporting Q324 Product Leg
Slide 23: 9M 2024 Revenue split: Changes in product hierarchy and Legacy UPC customer shifts to B2B
9M 2024 Revenue split: Changes in product hierarchy and Legacy UPC customer shifts to B2B 1 Adjustment in product Revenue split Reclassification Walkthrough 9M 20241 (in CHFm) hierarchy within Residential customers B2B & Wholesale Residential Customers Legacy and B2B & WHS reporting 9M24 Product Leg
Slide 24: Quarterly P&L and Cash Flow
Quarterly P&L and Cash Flow Financials - P&L CHF millions Q124 RB1 Q224 RB 2024RB (H1) Q324 RB Q125 RB Q225 RB 2025RB (H1) Q325 RB Revenue 746.8 737.5 1,484.3 749.0 722.1 731.6 1,453.7 740.9 Growth % (3.3)% (0.8)% (2.1)% (1.1)% CoS 201.7 195.2 396.9 189.3 184.3 191.7 376.0 201.5 Gross Profit 545.1 5
Slide 25: Quarterly segment split
Quarterly segment split Financials - Revenue split CHF millions Q124 RB1 Q224 RB 2024RB (H1) Q324 RB Q424 RB 2024RB Q125 Q225 2025 (H1) Q325 Revenue 746.8 737.5 1,484.3 749.0 784.7 3,018.0 722.1 731.6 1,453.7 740.9 Growth % (3.3)% (0.8)% (2.1)% (1.1)% Residential Customers 544.3 530.2 1,074.5 535.2
Slide 26: Quarterly segment split (cont'd)
Quarterly segment split (cont’d) Financials - P&L CHF millions Q124 RB1 Q224 RB 2024RB (H1) Q324 RB Q125 Q225 2025RB (H1) Q325 Revenue 746.8 737.5 1,484.3 749.0 722.1 731.6 1,453.7 740.9 Growth % (3.3)% (0.8)% (2.1)% (1.1)% Residential Customers 544.3 530.2 1,074.5 535.2 520.3 521.3 1,041.6 519.1 Bu
Slide 27: Operational KPI's – Customer relationships
Operational KPI’s – Customer relationships Customer Relationships Q124 RB1 Q224 RB 2024RB H1 Q324 RB Q424 RB 2024RB H2 2024RB Q125 Q225 2025 H1 Q325 Fixed Customer Relationships represent the number of customers who receive at least one of Sunrise’s broadband Internet, TV or fixed-line telephony ser
Slide 28: Operational KPI's – Base RGUs
Operational KPI’s – Base RGUs Base RGUs1 Q124 RB2 Q224 RB 2024RB H1 Q324 RB Q424 RB 2024RB H2 2024RB Q125 Q225 2025 H1 Q325 Internet Subscribers are homes, residential multiple dwelling units or Broadband Internet3 commercial units that receive fixed broadband Internet services over Sunrise’s fixed
Slide 29: Operational KPI's – ARPU Residential
Operational KPI’s – ARPU Residential ARPU (Residential) Q124 RB Q224 RB 2024RB H1 Q324 RB Q424 RB 2024RB H2 2024RB Q125 Q225 2025 H1 Q325 Subscription Revenue CHFm 459 457 915 455 445 900 1,816 441 444 885 440 Fixed CHFm 254 251 505 247 241 488 992 239 238 477 231 Mobile CHFm 205 206 411 208 204 413
Slide 30: Rebase information
Rebase information Rebase Information Rebase results, which are non-IFRS measures, are presented as a basis for assessing growth rates on a comparable basis. Rebase information is provided to show the results of the business without the impact of certain acquisition-related, transaction-related, or
Slide 31: Non-IFRS Reconciliations
Non-IFRS Reconciliations Three months ended Three months ended 31-Mar-25 30-Jun-25 30-Sept-25 31-Mar-24 30-Jun-24 30-Sept-24 31-Dec-24 CHF in millions CHF in millions Adjusted EBITDA and Adjusted EBITDAaL: Net income (loss) (1.3) (53.6) (4.4) (127.2) (73.7) (18.3) (142.7) Income tax expense (benefit
Slide 32: Contact Information
Contact Information Sunrise Investor Relations Thurgauerstrasse 101B investor.relations@sunrise.net 8152 Glattpark (Opfikon) +41 58 777 61 00 Switzerland Q3 2025 Results | 11 November 2025