Press release
Renens, 24.11.2023

Q3 2023 Financial Results
Sustained Subscriber Growth Across All Segments – Further Increase in Operating Revenueand EBITDA – Top Marks in Bilanz Rating and Connect Broadband Test – Expanding Growth
Platform with Increasing FTTH Reach and Growing Sales Network – Credit Rating Upgrade•

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Continued momentum in subscriber growth in Q3 with 32’100 postpaid mobile netadds, another strong quarter in Salt Home and a record performance in B-to-B overnine months
Strong Q3 financial performance with Operating Revenue up 3.1% year-on-year toCHF 240.4 million and EBITDA up 4.2% year-on-year to CHF 149.4 million; 12
consecutive quarters of growth in postpaid service revenue
Salt named Best Universal Provider for residential customers for the third time in arow and for the first time also for large corporates in Bilanz rating and confirmed top
position in Connect broadband test
Salt expands footprint and growth potential by rapidly increasing its FTTH reach andadding stores in attractive locations
Credit rating upgrade to 'BB-' and successful placement of senior secured notes in theamount of CHF 100 million

Q3’23 Key Financials

Note: Figures are presented at Salt level, incl. IFRS 15 and IFRS 161

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Record Net Adds in Mobile Subscribers Year-To-Date and Strong Financial Performance
Salt reports another strong quarter in terms of customer growth and financial performance. In
Q3, Salt added 32’100 postpaid mobile subscribers, setting a new record with a total of 92,200
net additions for the first nine months, an increase of 27% compared to the same period lastyear. Growth was supported by another strong quarter in B-to-B adding to a recordperformance over nine months. By leveraging the enhanced FTTH footprint, Salt also
continued its growth momentum in Home.
Operating Revenue increased by 3.1% YoY to CHF 240.4 million, supported by continued
growth in all three segments and by the price increase in mobile offsetting inflation beginningof September. This led to an increase in EBITDA of 4.2% to CHF 149.4 million. With total
investments of CHF 40.0 million (Q3 22: CHF 37.1 million), Free Cash Flow amounted to CHF
106.5 million (Q3 22: CHF 106.3 million).
Max Nunziata, CEO at Salt, commented: “We are very proud of being the fastest-growing
national Swiss telecom operator while upholding profitability. The outstanding growthunderlines the attractiveness of our solutions to B-to-B as well as B-to-C customers andunderscores the potential for further growth. We will continue to invest in our product offeringsand services to sustain our growth journey.”
Top Ratings in Bilanz Telecom Rating & Connect Broadband Test
In August, Salt was recognized as the Best Universal Provider for residential and corporate
customers in the Bilanz telecom rating. While it marked the third consecutive year of Salt's top
rating for residential customers, it was the first win in the large corporates category. These top
rankings underscore Salt’s unique combination of high-quality services at attractive prices. In
September, Salt won the Connect broadband test achieving an outstanding score of 987 outof 1000 points. Notably, Salt outperformed all other providers in data download and upload
speeds, reaffirming that Salt’s fiber-based offering provides the best performance at an
attractive price.
Expanding Sales Network and FTTH ReachSalt is committed not only to enhancing its network, product offerings and service quality but
also to expanding its sales network and FTTH reach. In addition to the online channels and callcenters, Salt stores continue to be a pivotal channel for interacting with its subscribers andoffering personalized solutions. In September, Salt continued to expand its stores network withthe opening of its latest store in a prime location in the heart of Lucerne.

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On the FTTH front, Salt Home is now accessible to 2 million Swiss households. Salt continues
to extend its fiber reach every month in collaboration with its partners. In Q3, Salt Home's
unique internet technology has been made available in the following communities:
Charmey (FR), Ebnat-Kappel (SG), Flims (GR), Grossaffoltern (BE), Lyss (BE), Subingen/Horriwil(SO), Romont (FR), Villorsonnens (FR), Wattwil (SG)Rating Upgrade and Successful Placement of Senior Secured Notes
The consistently solid business performance in recent years has led to credit rating upgrades.
In July, S&P Global Ratings has upgraded the long-term issuer credit and issue ratings onMatterhorn Telecom, the parent company of Salt, to 'BB-' from 'B+'. Fitch Ratings has assigned
Matterhorn Telecom a first-time Long-Term Issue Default Rating of 'BB-' and a 'BB+' issue
rating to its secured notes. Mid-July, Matterhorn Telecom then successfully placed seniorsecured notes in the amount of CHF 100 million.

About Salt
Salt stands for innovation offering attractive prices for premium products in the Swiss telecommunications
market. An excellent mobile network, the country’s best performing internet connection (nPerf, 2022), attractive
prices and customer-focused service ensure an outstanding experience for its business and residential customers.
The company’s services as well as its fixed and mobile networks are repeatedly awarded: best universal provider
for large companies and residential customers (Bilanz, 2023), best broadband offer (connect, 2023) very good
mobile network (connect, 2023), best performing internet connection (nPerf, 2022), winner regional fixednetwork providers with "outstanding" rating (connect, 2023), best broadband tariff (SIQT, 2022) and number one
B-to-B mobile provider (SIQT, 2022). Based in Renens (VD), Salt has two additional offices in Biel and Zurich. Thecompany employs more than 1,000 employees and serves 1,575,400 postpaid mobile and more than 200,000
broadband customers across Switzerland. Salt currently offers 99.9% population mobile coverage.

Salt Media Relations Team+41 78 787 44 81 | media@salt.ch | Salt.ch3