Swisscom To Become The Sole Shareholder Of Swisscom Directories Ltd

Swisscom is exercising its right to purchase the 31 percent holding in Swisscom Directories Ltd (local search)
that is currently held by Tamedia in a move that will make Swisscom the company’s sole shareholder.
The transaction is scheduled to be completed during the first quarter of 2019.

In 2015, search.ch Ltd was merged with local search, in which Tamedia holds a 31 percent interest and
Swisscom a 69 percent interest. As part of the merger, Swisscom granted Tamedia a put option and Tamedia
granted Swisscom a call option for Tamedia’s holding in local search. These options have been
exercisable since mid-2018.

Swisscom is now exercising its right to purchase Tamedia’s 31 percent holding, which will make Swisscom the
sole shareholder of local search. Based in Zurich, the leading marketing and advertising partner for
Swiss SMEs has more than 800 employees and operates Switzerland’s biggest directory platforms,
local.ch and search.ch. Offering professional website creation, online advertising and campaigns, online
booking systems, customer management systems and an extensive web presence on all major Swiss
platforms, local search helps Swiss companies to acquire new customers and achieve success in the
digital world.

The transaction is scheduled for completion in the first quarter of 2019. The exercise price amounts to
CHF 220 million plus non-essential cash and cash equivalents. The transaction will have no impact on
Swisscom’s net debt as the exercising of the option has already been accounted for.―CT Bureau