Annual Media Conference 20205 March 2020 FULL-YEAR MEDIA CONFERENCE | 5 MARCH | ©2020 ASCOM 1

Agenda

Opening Statement

Valentin Chapero Rueda, Chairman

Business Review 2019

Jeannine Pilloud, CEO

Financial Review 2019

Dominik Maurer, CFO

Business Drivers / Outlook

Jeannine Pilloud, CEO

Q&A

FULL-YEAR MEDIA CONFERENCE | 5 MARCH | ©2020 ASCOM 2

Introduction of today’s presenters

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CEO (since 7 November 2019)

Chairperson of Ascom Holding AG from 10 April to 7 November 2019

Member of the Board Swiss Railways (SBB) (2011 – 2017)

Jeannine Pilloud

Chairman of the Board of Directors (since 7 November 2019)

Member of the Board of Ascom Holding AG since 2016

CEO Sonova Holding AG 2002 – 2011

Valentin Chapero Rueda

CFO (since 10 October 2019)

Partner / CFO in different companies

Vice President T-Systems International 2012 – 2016

Dominik Maurer

Opening StatementValentin Chapero Rueda, Chairman FULL-YEAR MEDIA CONFERENCE | 5 MARCH | ©2020 ASCOM 4

Our objective:

Protect the traditional business while strongly develop the business (products and services) around

mobile workflow solutions within Enterprise, Acute Care and long-term Care.

Ascom Today

FULL-YEAR MEDIA CONFERENCE | 5 MARCH | ©2020 ASCOM 5

Still work in progress:

Until 2016 a division within a holding organization with strong device orientation and a developing solution business.

2016 – 2019 new foundation with strong investments in the capabilities to supply services and software driven solutions. Strong development effort for innovative solutions. Major deficiencies in organizational setup (centralized approach) and execution quality leading to eroding “historical business” while growth rate in new segments insufficient.

2020 starts with renewed management team, new organization (end-to-end business responsibility of country organizations) and new processes.

Outstanding market potential: significant growth of alarm and signaling sources (Internet of Things,

new devices), increased cost pressure while requiring better documentation (such as quality of care,

resources used), growth in home care with additional need for remote supervision and communication.

The Opportunity (I) – Market Landscape

FULL-YEAR MEDIA CONFERENCE | 5 MARCH | ©2020 ASCOM 6

Complex market structure: digital workflows, “industrialized” care delivery, robust communication, integration of complex device and software infrastructure, alarm management with complex use cases and many more.

Highly fragmented competitor landscape with extremely varying competence profiles and limited geographical presence.

Customers still working through their own digital strategy trying to understand the best solutions with the best return on investment.

The Opportunity (II) – Ascom’s Unique Value Proposition

FULL-YEAR MEDIA CONFERENCE | 5 MARCH | ©2020 ASCOM 7

The most comprehensive and integrated product and solution portfolio in the industry

An attractive innovation pipeline driven by a global R&D team in 5 competence centers

The best global coverage and the largest customer footprint

A highly skilled global workforce as demonstrated in many complex lighthouse projects

A new, energized organization with a clear market focus, fostering an entrepreneurial spirit in the country organizations

Ascom General Meeting 2020

FULL-YEAR MEDIA CONFERENCE | 5 MARCH | ©2020 ASCOM 8

New Board Members

Revision of Articles of Association

Compensation

Dividend Policy

4 new Board members proposed Experienced leadership personalities Industrial competence of the Board enhanced

Preparation of legal frame for capital increase More flexible solution for external mandates in line with benchmarks Compensation caps for STI/LTI for Executive Board

Overall in line with previous years More performance-oriented compensation structure

Due to low group profit, no dividend payout this year

New Board Members

FULL-YEAR MEDIA CONFERENCE | 5 MARCH | ©2020 ASCOM 9

CEO of Adecco Switzerland

Member of the Compensation Committee

Nicole Burth Tschudi

CEO of Sanitas Krankenversicherung

Member of the Audit Committee

Dr Andreas Schönenberger

Former Member of Managing Board Siemens Healthineers

Member of the Audit Committee

Michael Reitermann

Former CEO GE Healthcare Partners

Member of the Compensation Committee

Laurent Dubois

Business Review 2019Jeannine Pilloud, CEO FULL-YEAR MEDIA CONFERENCE | 5 MARCH | ©2020 ASCOM 10

2019 at a GlanceChallenging year for Ascom

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Net revenue impacted by strong decline of the OEM business and disappointing performance in particular in Americas and Netherlands

Positive development in UK and DACH region

Incoming orders in line with the previous year

Good growth of order backlog

EBITDA impacted by restructuring costs and non-recurring effects

Positive Group profit due to positive one-off effects

Our CommitmentAs per Investor Day 7 November 2019

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Focus on Healthcare ICT and Enterprise value propositions

Increased recurring revenues(products & solutions)

Increased software and software maintenance sales

Committed Ascom Team

Key Success Factors

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Operational Financial StrategicPositioned for Future Growth

1 2 3 4

Stabilize and transform the business

Leaner organization with strong customer proximity

Set up of a Clinical Solutions Team

Realignment of leadership team

New Head of HR appointed in February 2020

Cost base to be lowered by about CHF 15m

Improve financial steering

End-to-end P&L responsibility in the regions

Protect traditional business

Develop the business around mobile workflow solutions

Targeted business development process per region and market segment

High-growth market

Global coverage and large customer footprint

Unique Healthcare and Enterprise platform

Innovation pipeline

Highly-skilled workforce

Comprehensive ecosystem for integrated solutions

Transformation Program SIFOXObjective: Simplify, Focus and Execute

FULL-YEAR MEDIA CONFERENCE | 5 MARCH | ©2020 ASCOM 14

Organizational

Structure

Core

Processes

Skills &

Certifications

Portfolio

ManagementStrategy

Go-to-

Market

Delivery

Model

Cost Savings Program on Track Savings in CHFm

FULL-YEAR MEDIA CONFERENCE | 5 MARCH | ©2020 ASCOM 15

Completed in 2019 Completed in 2020 To Go in 2020 Total TargetTotal ExpectedExpected in 2020Achieved in 2020

Status Net Savings 2020 Status expected Annualized Savings as of 2021

50%

25%

25%

1566%

34%6.5

44%Not yet started

56%Started but not completed yet

Financial Review 2019Dominik Maurer, CFO FULL-YEAR MEDIA CONFERENCE | 5 MARCH | ©2020 ASCOM 16

Key Figures 2019

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CHFm 2019 2018Variance in %-CHF

Variance in %-cc

Incoming orders 316 330 (4.3%) (1.4%)

Backlog 178 150 18.6% 22.1%

Net revenue 283 319 (11.2%) (8.5%)

EBITDA (normalized) 11 39 (71.8%) (68.6%)

% Revenue 3.9% 12.2%

EBITDA 1 39 (98.0%) (94.7%)

% Revenue 0.3% 12.2%

EBIT (normalized) (3) 27

% Revenue (1.1%) 8.3%

EBIT (13) 27

% Revenue (4.7%) 8.3%

Group Profit (normalized) 7 21

% Revenue 2.6% 6.7%

Group profit 1 21

% Revenue 0.2% 6.7%

One-off items impact of CHF 9.9m (CHF 10.2m in cc) on EBITDA

Net profit positively influenced by CHF 7.9m non-operating results due to selling Technologiepark Teningen

Main driver of EBITDA normalized decrease is coming from lower revenue

Comment

FY 2019 – Income Statement

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CHFm 2019 % 2018 %Variance in %-cc

Net revenue 283 100.0% 318 100.0% (8.5%)

Cost of sales (159) (56.3%) (160) (50.3%) 1.8%

Gross profit 124 43.7% 158 49.7% (19.0%)

Marketing and sales (81) (28.6%) (78) (24.5%) 6.5%

Research and development (33) (11.7%) (32) (10.2%) 7.1%

Administration (22) (7.6%) (20) (6.3%) 10.8%

Other operating expenses (1) (0.5%) (2) (0.5%) (3.7%)

EBIT (13) (4.7%) 27 8.3%

EBITDA 1 0.3% 39 12.2%

Group profit for the period 1 0.2% 21 6.7%

EBIT (normalized) (3) (1.2%) 27 8.3%

EBITDA (normalized) 11 3.8% 39 12.2%

Cost of sales – includes CHF 3.6m of one-off items and statutory salary increase. Allowing for these changes the underlying cost increase is 5%

Marketing and Sales – Adjusting for one-off items and statutory salary increases, cost decreased by 2%

Research and development –Adjusting for one-off items and statutory salary cost increased

Comment

Incoming Orders Increased (excl. OEM)Currency adjusted increase in 2019 by regions

FULL-YEAR MEDIA CONFERENCE | 5 MARCH | ©2020 ASCOM 19

Americas

51 m

-7.6%

Major Regions Europe

203 m

+0.2%

RoW

50 m

+15.1%

OEM

21 m

-25.6%

Incoming orders increased by 0.9% without OEM

Incoming orders incl. OEM slightly decreased by 1.4%

Generated incoming orders in 2019 of CHF 325m

Comment

Note: Regional clusters shown follows new structure valid for 2020

FY 2019 Revenue Decline

-27

Currency effectFY 2018 Revenue FY 2019 RevenueRevenue

Decline in local currency

-8

318

283

-8.5% -2.7%

Total variance: CHF -35m (-11.2%)

FULL-YEAR MEDIA CONFERENCE | 5 MARCH | ©2020 ASCOM 20

D/A/CH 51 1.4% -0.7% Limited growth due to bottleneck of qualified

installation engineers

France /Spain

21 -8.6% -11.8% Challenging market conditions

Netherlands 52 -9.3% -12.5% Bottleneck in installation engineers and sales Recurring revenue increased

Nordics 38 -5.4% -10.4% Delayed product launches

Revenue 2019 – Regional Development (I)Deviations in actual rates (%-CHF) and in constant currency (%-cc)

FULL-YEAR MEDIA CONFERENCE | 5 MARCH | ©2020 ASCOM 21Note: Regional clusters shown follows new structure valid for 2020

RevenueCHFm

Variance to PYRegion Comment

%-cc %-CHF

UK & Ireland 13 7.2% 4.5% Strong growth by key deals in Acute Care / long-term

Care

Americas 50 -10.8% -9.5% Leadership challenges Lack of focus on execution

RoW 39 -9.0% -12.7% Slippage of planned key deals Challenging market environment

OEM 19 -30.8% -35.3% Delayed product launch Difficult market environment

Revenue 2019 – Regional Development (II)Deviations in actual rates (%-CHF) and in constant currency (%-cc)

FULL-YEAR MEDIA CONFERENCE | 5 MARCH | ©2020 ASCOM 22Note: Regional clusters shown follows new structure valid for 2020

RevenueCHFm

Variance to PYRegion Comment

%-cc %-CHF

Slight Increase of Recurring Revenue

FULL-YEAR MEDIA CONFERENCE | 5 MARCH | ©2020 ASCOM 23

Recurring

Non-recurring

69

214

+3.3%

-15.0%

+5.9%

-12.3%

Recurring revenue growth mainly driven by software in all countries

Healthcare

Enterprise (excl. OEM)

182

82

-9.1%

-8.7%

-6.8%

-5.6%

Mainly driven by constraints in Americas and Netherlands

UK and DACH were growing in Healthcare

Benelux and Nordics mainly driving this decrease

Re

ve

nu

e T

yp

eM

ark

et

Se

gm

en

t

RevenueCHFm

Variance to PYComment

%-cc %-CHF

RevenueCHFm

Variance to PYComment

%-cc %-CHF

EBITDA Development

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EBITDA decline mainly driven by revenue

Personnel cost increase driven by investments in R&D and Services

Higher depreciation and amortization expense

One-off items include CHF 6.1m of restructuring costs including provisions, bad debt and impairment in Nordics and Americas

Comment39

11

1

2

20

7

3

3

10

2018 FY EBITDA

Capitalization

Personnel cost increase

Currency effects

Net revenue decline

Depreciation & amortization

Other costs 1

2019 FY EBITDA (normalized)

One-off items

FY 2019 EBITDA reported

-72.6%

Note: All values in CHFm, EBITDA reported = actual rates

Cash Flow Development

FULL-YEAR MEDIA CONFERENCE | 5 MARCH | ©2020 ASCOM 25

21.2

18.2

2.9

6.9

20.0

Cash and cash equivalents at

31.12.2019

CAPEXCash and cash equivalents at

31.12.2018

Cash from Operating Activities

-16.4

DividendsIn 2019

Cash in-flow from sale of Teningen

-16.2

Change in Borrowings

-0.2

Other Cash Flows

Note: All values in CHFm at actual rates except %

Balance Sheet

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2019 31 Dec

2019 30 June

2018 31 Dec

201830 Jun

Cash & Cash Equivalents 18.2 14.2 21.2 25.4

Borrowings 40.0 25.0 20.0 24.0

Net Cash (21.8) (10.8) 1.2 1.4

Net Working Capital 68.2 61.3 74.5 56.2

Total Assets 214.2 198.6 218.4 211.7

Total Equity 63.2 70.0 83.2 67.4

Total Equity % 29.5% 35.3% 38.1% 31.9%

FY net cash decrease of CHF 23.0m due to dividend payments and lower cash from operating activities

Net Working Capital decreased vs. December 2018 due to higher inventory whilst receivables and accrued liabilities declined

Priority 2020 – Net Working Capital Management

Comment

Note: All values in CHFm at actual rates except %

Business DriversJeannine Pilloud, CEO FULL-YEAR MEDIA CONFERENCE | 5 MARCH | ©2020 ASCOM 27

Global Presence with a Large Installed BaseParticularly strong base in Europe

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Ascom office

Ascom presence

Partner & Approved products

Americas

Asia, Australia, Africa

Europe

Ascom Product Areas per Market Segment

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Software MobilityPatient Systems Services & Support

Acute Care

Long-term Care

EnterpriseMa

rke

t S

eg

me

nts

OEM

TelligenceteleCARE

teleCARE

DIGISTAT UNITE

UNITE

UNITE

Smart Device

Paging

IP-Dect VoWiFi

Infastructure

Professional ServicesSmart Device

Paging

IP-Dect VoWiFi

Infastructure

Smart Device

Paging

IP-Dect VoWiFi

Infastructure

Professional Services

Professional Services

IP-Dect VoWiFi

Infastructure

Ascom Product Portfolio

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Software MobilityPatient Systems Services & Support

Telligence

The world’s first Patient Response System

Information and insights available at point of care and throughout process

Professional Services & Support

Supporting customers with wide range of activities, from installation to emergency assistance and on-site support

Global service portfolio covers everything from site assessment to tailored preventive maintenance agreements

teleCARE

Latest Ascom nurse call system using IP technology

UNITE MESSAGING SUITE

Unite is Ascom’s software platform that links mission-critical systems with mobile communications.

Delivers intelligent integration, advanced alarm & messaging, and system management in one package

DIGISTAT

Advanced patient data management system with large set of modules

Fully customizable for complex workflows

IP-Dect

Enterprise-grade telephony over secure frequency bands

VoWiFi

Enterprise-grade telephonybased on WiFi technology

Smart Device

Designed for demanding environments & prof. users

Combines apps, messaging and voice to streamline comm. flows

Infrastructure & Accessories

Access Points, Gateways, Base Stations & accessories for IP-DECT & VoWiFi solutions

Paging and Alarm

Small and robust one-and two-way messaging and alarm systems for professional users

Ascom Solution PortfolioIntegrate, Orchestrate, Enable

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Mobility

Consultancy Support Services

Applications

3rd partyapps

Device Integration

Response Systems

OrchestrationSoftware

Existing information systems

Connecting devices and information

systems to help users unlock valuable

real-time information

Integration

Enabling

OrchestrationFiltering, prioritizing and extending the

flow of information to users for

responsive, informed decisions

Structuring data to add context to

enhance timely response coordination

and communication across mobile

teams, to address user needs

Clinical applications

Nurse Call

Ascom has the most Comprehensive Offering

Value proposition

Medical Device Integration (MDI)

Orchestration software

Mobility

()

FULL-YEAR MEDIA CONFERENCE | 5 MARCH | ©2020 ASCOM 32Source: Own company estimates

Integrated Clinical Solutions

Overview Markets and Growth Opportunities

FULL-YEAR MEDIA CONFERENCE | 5 MARCH | ©2020 ASCOM 33

Market Potential* Measures

Increase in Acute Care and long-term Care Develop Go-to-Market

Maintain position in Enterprise Strong development in Acute Care

Maintain good position in Enterprise Increase in Acute and long-term Care

Maintain position in long-term Care Increase in Acute Care and Enterprise

Maintain market leadership in long-term Care

Maintain position in Acute Care

Focus on significant business development Deliver existing lighthouse projects

USA & Canada

DACH

UK

Ma

rke

ts

France & Spain

Nordics

Netherlands

RoW

OEM Revitalize customer relationship Expand portfolio

*

*

= Highest market potential based on Ascom’s own estimates

= Lowest market potential based on Ascom’s own estimates

Growth Potential in Market Segments

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Market Segment Market Growth*

Product Areas Ascom Critical Success Factors

Unite

Telligence

Mobility

Digistat

Successful in a competitive environment

Fully customizable for any complex workflows

Advanced patient data management system

Ongoing digital transformation

Links mission-critical systems with mobile communication

Intelligent integration in one package

Large installed base with potential for renewal and upgrade

Vital component for Acute, long-term Care, Enterprise solutions

Additional partners in OEM and distribution

So

ftw

are

Pa

tie

nt

Syst

em

sS

erv

ice

s &

S

up

po

rtM

ob

ility

Professional Services

Recurring revenue with maintenance and customer support

Capitalization on large installed base

teleCARE

Acute CareLong-term

CareEnterprise

Large installed base with potential for renewal and upgrade

Increasing market potential in long-term Care

OEM

*

*

= Highest market growth based on Ascom’s own estimates

= Lowest market growth based on Ascom’s own estimates

Success Drivers for the Future

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Recurring Revenue

Large Projects

Ongoing growth with existing customers

Offering of cloud-based services – Software as a Service (SaaS) Solution Life Cycle Maintenance which includes help desk Software Maintenance Agreements

Combination and integration of Ascom Offering

Potential to deliver on larger and more complex projects

Clinical journey of customer with Ascom, potential for upsells

Ascom relationship built on trust

Show Cases

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Integration with Chipsoft EHR

Monitor inbound & outbound patients and shift

from reactive to preventive care

Development & implementation of monitoring

platform for preventive monitoring

inside/outside hospital

Meeting the Complex Needs of Slingeland HospitalNetherlands

FULL-YEAR MEDIA CONFERENCE | 5 MARCH | ©2020 ASCOM 37

Customer requirements Ascom’s solution

Digistat Connect &

Smart Central

teleCARE IP

Unite Platform Server

Myco 3

Digistat EWS*

*for medical device wearables/sensors integration, collection & analysis of vital signs data and generation of early warning alarms

Value of CHF 1.0m

Tyks Lighthouse Hospital

Situational awareness and quiet ward

Enhanced clinical workflows

Improved patient safety

Finland

FULL-YEAR MEDIA CONFERENCE | 5 MARCH | ©2020 ASCOM 38

Customer requirements Ascom’s solution*

*100% = Project revenue

Value of CHF 1.5m+ 10 years Service Level Plan of CHF 1.0m

OutlookJeannine Pilloud, CEO FULL-YEAR MEDIA CONFERENCE | 5 MARCH | ©2020 ASCOM 39

Outlook

FULL-YEAR MEDIA CONFERENCE | 5 MARCH | ©2020 ASCOM 40

Transformation incl. cost savings

Shape Ascom for future growth

Streamline innovation model

Priorities 2020 Outlook 2020

Net revenue

Low single digit growth at constant currencies

1

2

3

EBITDA margin

High single digit margin at constant currencies

Q&AFULL-YEAR MEDIA CONFERENCE | 5 MARCH | ©2020 ASCOM 41

Next Event – Ascom Half-Year Results 13 August 2020Restaurant Metropol, Zurich FULL-YEAR MEDIA CONFERENCE | 5 MARCH | ©2020 ASCOM 42

FULL-YEAR MEDIA CONFERENCE | 5 MARCH | ©2020 ASCOM 43

LEGAL DISCLAIMER

This document contains specific forward-looking statements, e.g. statements including terms like “believe”,

“expect” or similar expressions. Such forward-looking statements are subject to known and unknown risks,

uncertainties and other factors which may result in a substantial divergence between the actual results, financial

situation, development or performance of Ascom and those explicitly presumed in these statements.

Against the background of these uncertainties readers should not rely on forward-looking statements. Ascom

assumes no responsibility to update forward-looking statements or adapt them to future events or developments.