WACC over the last 12 months

Telecommunications Sep 2024 Oct 2024 Nov 2024 Dec 2024 Jan 2025 Feb 2025 Mar 2025 Apr 2025 May 2025 Jun 2025 Jul 2025 Aug 2025 WACC bandwidth WACC average 4,0% 4,0% 3,6% 3,7% 3,8% 3,8% 3,8% 4,1% 3,8% 3,9% 4,0% 3,7%

WACC summary

Telecommunications, August 2025 Beta 0,6 Market risk premium incl. Small Cap Premium 6,5% – 8,0% Cost of equity 4,6% – 5,5% Cost of debt 1,6% Risk free rate 0,50% Credit Spread 1,3% Tax Shield 0,2% Risk free rate 0,50% Cost of equity Cost of debt 3,4% – 4,0% WACC 62,5% Equity ratio 37,5% Debt ratio
Dr. Marc Schmidli, CFA

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Dr. Marc Schmidli, CFA

PwC | Partner | Deals and Valuation Leader
Office: +41 58 792 1564 | Mobile: +41 79 211 7786
PricewaterhouseCoopers AG
Birchstrasse 160 | Postfach | CH-8050 Zürich
http://www.pwc.ch

Thomas Schneller, CFA

Questions?

Thomas Schneller, CFA

PwC | Director | Deals | Valuation & Modelling
Office: +41 58 792 1519 | Mobile: +41 79 608 4445 | Main: +41 58 792 4400
PricewaterhouseCoopers AG
Birchstrasse 160 | 8050 Zürich | Switzerland
http://www.pwc.ch