HALF-YEAR REPORT 2015

2 ASCOM HALF-YEAR REPORT 2015 LETTER TO SHAREHOLDERS

Dear ShareholdersWe announced in January 2015 that we are going to

transform Ascom into a healthcare ICT company by 2020 because we see Ascom well positioned already today as a provider of integrated workflow solutions in healthcare and the market offers to us attractive and profitable growth opportunities on a global level. In order to accelerate the implementation of our growth strategy, a special investment program was launched this year.

We are very pleased to inform you that the Ascom core business (including Wireless Solutions, Network Testing and Corporate, but excluding the activities re-lated to non-core real estate) increased its net revenue in the first half-year by 13.3% at constant currencies and 4.2% at actual currencies. Wireless Solutions (accounting for more than 70% of the Group’s business) grew its revenue by 14.6% at constant currencies. Despite the significant planned additional investments to accelerate the strategy implementation, Wireless Solutions im-proved the EBITDA margin by about one third to 14.4%. Network Testing grew its revenue by 10.1% at constant currencies. Impacted by the slowdown of the Systems & Solutions product unit and due to higher investments in further business development, the division reported an EBITDA of CHF 0.4 million. The testing business of Net-work Testing (excluding the product unit Systems & Solutions) posted revenue growth of 13.3%.

The Ascom Group includes, in addition to its core business, still some non-core real estate activities. On Group level, Ascom achieved revenue growth of 9.0% at constant currencies despite the anticipated revenue de-crease in non-core real estate activities of CHF 7.6 million. The Group profit increased by one third to CHF 11.0 million (H1/2014: CHF 8.2 million), reflecting a substantial im-provement in earnings quality as the Group profit for the first half 2015 does not include any gains from real estate activities. By contrast, the Group profit for the first half 2014 benefited from real estate gains of CHF 4.7 million.

Supported by the ongoing strong momentum in our markets, growth and profit development, we will continue the accelerated implementation of our strategy to become the leading provider of integrated workflow solutions in healthcare and further transform into a healthcare ICT company. Selected acquisitions are in-tended to support our growth strategy. Measures have been initiated to maintain in a sustainable way the rev-enue growth and to improve the profitability of the Network Testing Division within the next 12 months. In parallel, we are evaluating various strategic options for Network Testing.

Based on the good results achieved for the first half-year 2015 and the positive outlook for the second half-year, Ascom confirms its 2015 guidance for the core business. We are confident of reaching organic revenue growth of 3–7% and an EBITDA margin of 13–16%.

Strong development in Ascom’s core businessIn its core business (Wireless Solutions, Network Testing and Corporate, but excluding the activities related to non-core real estate), Ascom generated revenue of CHF 201.6 million (H1/2014: CHF 193.4 million) and achieved strong revenue growth of 13.3% at constant currencies and 4.2% at actual currencies. Incoming orders grew 4.1% at constant currencies to CHF 209.9 million (H1/2014: CHF 219.7 million). Also in terms of profitability, results for the first six months of 2015 were very satisfactory. Ascom closed the first half-year in its core business with an increase of 23% in EBITDA to CHF 20.6 million (H1/2014: CHF 16.7 million). This result includes planned and substantial additional investments to accelerate the “Ascom 2020” strategy with its focus on healthcare ICT. The EBITDA margin went up to 10.2% (H1/2014: 8.6%)

LETTER TO SHARE HOLDERS

Fritz Mumenthaler, CEO (l.), Juhani Anttila, Chairman (r.)

3ASCOM HALF-YEAR REPORT 2015 LETTER TO SHAREHOLDERS

Ascom is transforming into a healthcare ICT companyContinuous progress was made and Ascom is well posi-tioned to lead the market for workflow optimization and to become the leading provider for integrated workflow solutions in healthcare. In January 2015, we announced our strategic focus to transform Ascom into a healthcare ICT company. We have successfully launched our investment plan called “Ascom 2020” to accelerate the investments into solutions, software and professional services. The imple-mentation of the plan is well underway and additional in-vestments of up to CHF 8 million during the full-year 2015 will be made expanding Sales, Marketing and Technology capabilities whilst creating a new Global Solutions Center. The launch of Ascom Myco, a smart device, which is purpose-built for the healthcare industry, went according to plan and a number of reference projects in different countries were won. The investment into Ascom Myco represents a key strategic milestone for the division Wireless Solutions and important mid-term business catalyst.

Wireless Solutions experienced a very good first half-year 2015. All key regions made a positive contribution to the division’s success and dynamic development. The busi-ness in North America bounced back and sales developed very well. Solid double-digit revenue growth rates were achieved also in the Nordic area, Germany and Switzerland. Sales with OEM partners continued to be very strong.

Given the division’s excellent market position and supported by strong momentum in its key markets, Wire-less Solutions grew its revenue to CHF 147.2 million (H1/2014: CHF 140.8 million), representing an increase of 14.6% at constant currencies and of 4.5% at actual currencies. Incoming orders amounted to CHF 160.0 million (H1/2014: CHF 161.9 million) and increased by 8.6% at constant cur-rencies. Despite the planned and substantial additional investments to accelerate the “Ascom 2020” strategy, Wireless Solutions was able to increase its EBITDA margin to 14.4% (H1/2014: 10.9%).

Network Testing posted double-digit revenue growthNetwork Testing (accounting for about 27% of the Group’s business) posted in the first half-year 2015 revenue of CHF 54.6 million (H1/2014: CHF 52.7 million) representing a growth rate of 10.1% at constant currencies and 3.6% at actual currencies. The testing business of the division (which accounts for about 87% of the division’s business and excludes the product unit Systems & Solutions) achieved in the first half-year 2015 revenue growth of 13.3% at constant currencies and 7.4% at actual currencies.

Incoming orders on divisional level amounted to CHF 50.1 million (H1/2014: CHF 57.9 million). Adjusted for currency effects, incoming orders of the testing business (excluding the product unit Systems & Solutions) were in line with the previous year.

The division generated above-average growth in Asia and Americas. Network Testing as a global industry leader in mobile network testing was selected by one of the larg-

est network operators in China as the only vendor for Test & Measurement products from outside China. Impacted by the planned additional investments in the further develop-ment of the business and the slowdown of the Systems & Solutions unit, the EBITDA margin amounted to 0.7% whereas the testing business of the division achieved an EBITDA margin of 1.5%. The product unit Systems & So-lutions (which accounts for about 13% of the division’s business) performed below expectations.

Group profit increased by about one thirdAscom is a financially sound global technology group. Driv-en by the positive business development, Ascom increased Group profit in the first six months by about one third to CHF 11.0 million (H1/2014: CHF 8.2 million), reflecting a substantial improvement in earnings quality as the Group profit for the first half-year 2015 does not include any gains from real estate activities. By contrast, the Group profit for the first half-year 2014 benefited from real estate gains of CHF 4.7 million and amounted to CHF 3.5 million net of these effects. The Group closed the first half-year 2015 with an EBITDA margin of 10.1% (H1/2014: 10.5%). As at 30 June 2015, the Group showed a net cash position of CHF 22.5 million and an equity ratio of 53.6%.

Strategic options to be evaluated for Network TestingSupported by the ongoing strong momentum in market, growth and profit development, we will continue the accelerated implementation of our strategy to become the leading provider of integrated workflow solutions in healthcare and further transform into a healthcare ICT company. Selected acquisitions are intended to support our growth strategy. Measures have been initiated to maintain in a sustainable way the revenue growth and to improve the profitability of the division Network Testing within the next 12 months. In parallel, we are evaluating various strategic options for Network Testing.

Based on the good results achieved for the first half-year 2015 and the positive outlook for the second half-year, Ascom confirms its 2015 guidance for the core business. We are confident of reaching an organic revenue growth of 3–7% and an EBITDA margin of 13–16%.

Juhani Anttila Fritz MumenthalerChairman CEO

4 ASCOM HALF-YEAR REPORT 2015 BUSINESS RESULTS

Flawless first half-year 2015 for Wireless Solutions

Wireless Solutions (accounting for about 72% of the Group’s business) showed a very good performance dur-ing the first six months of 2015, despite unfavorable cur-rency developments. Supported by strong momentum in its key markets, the division grew its revenue by 14.6% at constant currencies and 4.5% at actual currencies. All regions delivered a positive contribution to the good results. Wireless Solutions also succeeded in increasing the EBITDA margin to 14.4% (H1/2014: 10.9%). This in-cludes the planned additional investments to accelerate the implementation of the “Ascom 2020” strategy with its focus on healthcare ICT, as announced in January 2015.

Wireless Solutions grew its revenue to CHF 147.2 million (H1/2014: CHF 140.8 million), representing an increase of 14.6% at constant currencies and 4.5% at actual currencies over the previous year period. During the first half-year, Wireless Solutions won important contracts in all custom-er segments and increased incoming orders by 8.6% at constant currencies. At actual currencies, incoming orders were almost stable at CHF 160.0 million compared to the previous year (H1/2014: CHF 161.9 million). Book-to-bill ratio was well above 1 at 1.08.

All key regions made a positive contribution to the division’s success and dynamic development. The business in North America bounced back, posting double-digit orders and revenue growth as US healthcare investments shifted towards mobility solutions after two years of dif-ferent prioritization supported by the Affordable Care Act requirements. Solid double-digit revenue growth rates were also achieved in the Nordic area, Germany and Swit-zerland. Sales with OEM partners continued to be very strong. On the other hand, the retail and healthcare busi-ness in the UK faced a challenging market environment. The Middle East region continued to develop positively, while Australia performed below expectations.

In terms of profitability, Wireless Solutions managed to improve its already high gross margin from 49.5% to 51.1% for the first half-year 2015. Despite the significant planned additional investments, functional costs remained stable compared to the previous year at actual currencies. Overall, the combination of higher revenue recorded for the first six months and stable functional costs resulted in a substantial increase in EBITDA of more than one third to CHF 21.2 million (H1/2014: CHF 15.4 million), which also led to a significantly higher EBITDA margin of 14.4% (H1/2014: 10.9%).

One of Wireless Solutions’ greatest success stories is the launch of Ascom Myco, a smart device that is purpose-built for the healthcare industry. First Myco units were shipped in April 2015 on schedule. Customers have shown great interest in Myco and the integration opportunities the device enables within healthcare facilities. During the first half-year 2015 the division won a number of reference projects in several regions, including one major project in North America, which entailed about 500 Ascom Myco units. The investment into Ascom Myco represents a key strategic milestone for the division and an important mid-term business catalyst.

Wireless Solutions is well positioned to lead the market for workflow optimization at the point of care and to become the leading provider for integrated workflow solutions in healthcare. In order to capture significant growth opportunities, an investment plan focused on ICT healthcare was launched in January 2015. The target is to accelerate the investment into solutions, software and professional services. The implementation of the plan is well underway, and the division will add up to 100 employ-ees by the end of 2015, expanding sales, marketing and technology capabilities, while also creating a new Global Solutions Center. Wireless Solutions has the vision and ambition to be present in every tier 1 hospital in the world by 2020.

BUSINESS RESULTS

Revenue by region Wireless Solutions

Europe excl. Switzerland 70% Belgium 3%France 8%Germany 14%Netherlands 19%Scandinavia 18%United Kingdom 7%Rest of Europe 1%

AMEA 3%

Switzerland 8%

Americas 19%

5ASCOM HALF-YEAR REPORT 2015 BUSINESS RESULTS

previous year at 54.0% (H1/2014: 54.3%). Impacted by the slowdown of the Systems & Solutions product unit and due to higher functional costs in conjunction with the planned strategic investments, the division reported an EBITDA of CHF 0.4 million (H1/2014: CHF 2.3 million), representing an EBITDA margin of 0.7% (H1/2014: 4.4%). The testing business (excluding the product unit Systems & Solutions) achieved an EBITDA margin of 1.5%.

Network Testing continued to invest significantly in R&D, as technological developments are driving customer interest. Network Testing remains a market leader in test-ing, optimization, benchmarking and monitoring solutions for mobile networks and offers a comprehensive suite of software-centric solutions across the value chain.

As part of the analytics strategy, in June 2015 Net-work Testing signed an agreement with Huawei to license Huawei’s network infrastructure interfaces for integration with its TEMS Discovery network optimization products. With this agreement, Ascom became the first independent software vendor to license Huawei’s OSSii interfaces. This agreement is in alignment with the principles outlined in the OSS Interoperability Initiative (OSSii), which was founded by Huawei, Nokia Networks and Ericsson, as the initiating parties, with the aim of simplifying interoper-ability between Operations Support Systems (OSS) in a multi-vendor network environment.

In addition, during the first half-year 2015, all product units saw new product releases, thereby further expanding coverage of new technologies such as VoLTE, IP Multimedia Subsystem (IMS) and Carrier Aggregation as well as fea-tures and functions aiming to improve customers’ opera-tional efficiencies. The division also was happy to announce support for the latest Samsung device very shortly after its release and as the first supplier in the industry.

Double-digit revenue growth for Network Testing in the first half-year 2015

Network Testing (which accounted for about 27% of the Group’s business) posted a revenue growth of 10.1% at constant currencies and 3.6% at actual curren-cies in the first half-year 2015. The division generated above-average growth in Asia and Americas. The divi-sion was impacted by the planned additional invest-ments in the further development of the business and the slowdown of the demand for integrated IT Systems in the product unit Systems & Solutions, and as a result, the EBITDA margin amounts to 0.7%.

Network Testing grew its revenue to CHF 54.6 million (H1/2014: CHF 52.7 million), representing an increase of 10.1% at constant currencies and 3.6% at actual currencies. The testing business of Network Testing (which accounts for about 87% of the division’s business and excludes the product unit Systems & Solutions) achieved in the first half-year 2015 revenue growth of 13.3% at constant cur-rencies and 7.4% at actual currencies.

Incoming orders reached CHF 50.1 million (H1/2014: CHF 57.9 million). Adjusted for currency effects, incoming orders of the division’s testing business (excluding the product unit Systems & Solutions) were in line with the previous year.

The division delivered above-average growth in the Americas, in particular in Latin America. The US market exhibited subdued investments in network capacity from telecom operators, which impacted the division’s business with infrastructure vendors and service companies. How-ever, Network Testing was able to utilize its excellent customer relationships with dominant US Operators to find new opportunities to achieve solid growth. The market showed relative weakness in Western Europe, while condi-tions in Eastern Europe improved. The business develop-ment in Africa was below expectations.

After the turnaround achieved in 2014, the Asia Pacific region developed very well, both in terms of reve-nue and incoming orders, and the business in the Middle East continues to be strong. One of the world’s largest network operators in China, which signed a contract re-lated to the TEMS VoLTE technology, has selected Ascom as the only vendor for Test & Measurement products from outside China. Further orders from this major Chinese op-erator are expected for the second half-year and in 2016.

The product units Benchmarking & Monitoring and Reporting & Analysis generated solid revenue growth in the first six months. The product unit Systems & Solutions (which accounts for about 13% of the division’s business) continued to experience a difficult market environment. Systems & Solutions did not secure sufficient new orders and therefore closed the first half-year with a considerable decrease in revenue and an operational loss.

In terms of profitability, the gross margin of the divi-sion for the first half-year 2015 remained in line with the

Revenue by region Network Testing

Americas 41%Switzerland 4%

Europe excl. Switzerland 26% Germany 10%Scandinavia 4%United Kingdom 3%Rest of Europe 9%

AMEA 29%

6 ASCOM HALF-YEAR REPORT 2015 CONSOLIDATED BALANCE SHEET

CONSOLIDATED BALANCE SHEETAssets

CHFm Note 30.6.2015 31.12.2014

Property, plant and equipment 13.8 15.2

Intangible assets 193.3 217.4

Deferred income tax assets 12.5 11.6

Financial assets 1.7 1.3

Other assets 1.1 0.9

Non-current assets 222.4 246.4

Inventories and work in progress 24.4 24.8

Trade receivables 86.2 110.5

Income tax receivables 2.6 2.4

Other assets 26.1 32.8

Financial assets 2.0 1.5

Cash and cash equivalents 37.7 50.2

Current assets 179.0 222.2

Total assets 401.4 468.6

Liabilities and shareholders’ equity

CHFm Note 30.6.2015 31.12.2014

Equity attributable to owners of the parent 5 215.0 242.9

Shareholders’ equity 215.0 242.9

Borrowings 6 0.2 23.1

Deferred income tax liabilities 2.4 2.2

Employee benefit obligations 44.3 44.1

Provisions 5.9 6.0

Other liabilities 0.4 0.5

Non-current liabilities 53.2 75.9

Borrowings 6 15.0 –

Provisions 5.1 7.1

Trade payables 23.0 32.9

Income tax payables 6.8 7.9

Other liabilities 83.3 101.9

Current liabilities 133.2 149.8

Total liabilities 186.4 225.7

Total liabilities and shareholders’ equity 401.4 468.6

The notes on pages 10 to 14 are an integral part of the consolidated interim financial statements.

7ASCOM HALF-YEAR REPORT 2015 CONSOLIDATED INCOME STATEMENT & CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

CONSOLIDATED INCOME STATEMENT

CHFm 1st half-year 2015

1st half-year 2014

Revenue 203.3 202.7

Cost of goods sold (98.6) (105.1)

Gross profit 104.7 97.6

Marketing and sales (48.7) (47.3)

Research and development (22.1) (21.4)

Administration (17.1) (17.0)

Amortization of intangible assets from acquisition 1 (4.4) (5.7)

Other income/(expenses), net 0.2 6.0

Earnings before interest and income tax (EBIT) 12.6 12.2

Financial income 3.0 0.4

Financial expenses (1.2) (3.0)

Earnings before income tax 14.4 9.6

Income tax (3.4) (1.4)

Group profit for the period 2 11.0 8.2

1 This line item exclusively contains amortization of intangible assets initially capitalized due to a purchase price allocation at acquisition date.2 Attributable to the owners of the parent.

Earnings per share in CHF

CHFm 1st half-year 2015

1st half-year 2014

Basic 0.31 0.23

Diluted 0.31 0.23

Consolidated statement of comprehensive income

CHFm 1st half-year 2015

1st half-year 2014

Group profit for the period 11.0 8.2

Currency translation adjustments (24.6) (5.8)

Other comprehensive income that will be reclassified subsequently to profit or loss

(24.6) (5.8)

Actuarial gains/(losses) on defined benefit plans (2.8) (26.7)

Income tax effect 0.7 6.7

Other comprehensive income that will not be reclassified subsequently to profit or loss

(2.1) (20.0)

Total comprehensive income for the period 1 (15.7) (17.6)

1 Attributable to the owners of the parent.

The notes on pages 10 to 14 are an integral part of the consolidated interim financial statements.

8 ASCOM HALF-YEAR REPORT 2015 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

Attributable to owners of the parent

CHFm Share capital

Own shares

Share pre-mium

Other capital

reserves

Currency translation

adjust-ments

Retained earnings

Total share-

holders’ equity

Balance at 1.1.2014 18.0 (11.1) 1.1 10.2 (36.7) 264.9 246.4

Group profit for the period – – – – – 8.2 8.2

Other comprehensive income – – – – (5.8) (20.0) (25.8)

Total comprehensive income for the period – – – – (5.8) (11.8) (17.6)

Share-based payments – – – 0.3 – – 0.3

Purchase of own shares – (0.1) – – – – (0.1)

Disposal of own shares – 1.9 – 0.9 – – 2.8

Dividends paid – – – – – (14.0) (14.0)

Total transactions with owners – 1.8 – 1.2 – (14.0) (11.0)

Balance at 30.6.2014 18.0 (9.3) 1.1 11.4 (42.5) 239.1 217.8

Balance at 1.1.2015 18.0 (9.2) 1.1 11.5 (47.1) 268.6 242.9

Group profit for the period – – – – – 11.0 11.0

Other comprehensive income – – – – (24.6) (2.1) (26.7)

Total comprehensive income for the period – – – – (24.6) 8.9 (15.7)

Share-based payments – – – 0.1 – – 0.1

Purchase of own shares – – – – – – –

Disposal of own shares – 2.9 – 0.6 – – 3.5

Dividends paid – – – – – (15.8) (15.8)

Total transactions with owners – 2.9 – 0.7 – (15.8) (12.2)

Balance at 30.6.2015 18.0 (6.3) 1.1 12.2 (71.7) 261.7 215.0

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

The notes on pages 10 to 14 are an integral part of the consolidated interim financial statements.

9ASCOM HALF-YEAR REPORT 2015 CONSOLIDATED STATEMENT OF CASH FLOWS

CONSOLIDATED STATEMENT OF CASH FLOWS

The notes on pages 10 to 14 are an integral part of the consolidated interim financial statements.

CHFm 1st half-year 2015

1st half-year 2014

Group profit for the period 11.0 8.2

+ Depreciation and impairment of property, plant and equipment 1.7 1.8

+ Amortization and impairment of intangible assets 6.2 7.3

+/- (Profit)/loss from disposal of property, plant and equipment 1 – (4.7)

+/- (Profit)/loss from disposal of investments in third parties – (0.9)

+ Share-based payments 0.3 0.5

+/- Addition/(release) of provisions 0.5 (1.2)

- Provisions paid (2.2) (3.8)

+/- Change in employee benefit obligations and post-employment benefit assets 2

0.2 0.1

+/- Change in inventory and work in progress (2.3) (1.2)

+/- Change in trade receivables 14.0 10.3

+/- Change in trade payables (6.8) 2.4

+/- Change in other assets and other liabilities (5.5) (3.0)

- Interest income (0.1) (0.4)

+ Interest expenses 0.6 1.0

+ Interest received 0.1 0.2

- Interest paid (0.1) (0.2)

+ Income tax expenses 2 3.4 1.4

- Income tax paid (4.6) (4.0)

+/- Foreign currency translation differences on intra-group positions 2.5 0.5

Net cash flow from operating activities 18.9 14.3

- Purchase of property, plant and equipment (2.1) (1.8)

+ Proceeds from disposal of property, plant and equipment 1 – 4.7

- Purchase of intangible assets (3.5) (4.3)

- Acquisition of a subsidiary or business 3 (1.8) 0.8

+ Proceeds from disposal of investments in third parties – 1.7

+/- Change in financial assets and other non-current assets 0.3 1.4

Net cash flow from investing activities (7.1) 2.5

+ Proceeds from borrowings 20.0 21.4

- Repayment of borrowings (28.0) (35.1)

+ Proceeds from disposal of own shares 3.5 2.8

- Purchase of own shares – (0.1)

- Dividends paid/distribution of share premium (15.8) (14.0)

Net cash flow from financing activities (20.3) (25.0)

+/- Foreign currency translation differences on cash and cash equivalents (4.0) (0.2)

Net increase/(decrease) in cash and cash equivalents (12.5) (8.4)

+ Cash and cash equivalents at the beginning of the period 50.2 58.2

Cash and cash equivalents at the end of the period 37.7 49.8

1 Prior year amount mainly attributable to disposal of non-core properties in Switzerland.2 Recognized in profit or loss.3 CHF 1.8 million cash outflow attributable to the contingent purchase price payment for the technology-related business of Veelong Corp.

acquired in 2012 as disclosed in note 7.

10 ASCOM HALF-YEAR REPORT 2015 NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

1. GENERAL INFORMATION AND BASIS FOR PREPARATION

These unaudited consolidated interim financial statements of Ascom Holding Ltd. and its sub sidiaries cover the period from 1 January to 30 June 2015 and are prepared in accordance with the Inter national Accounting Standard for interim financial reporting (IAS 34). These consolidated interim financial statements contain an update of information already published and must therefore be read in con-junction with the year-end financial statements dated 31 December 2014.

Preparation of the consolidated interim financial statements demands certain estimates and assumptions that affect the reported assets, liabilities, income and expenses and contingent liabili-ties at the time the accounts are prepared. If, at a later point in time, variations should occur to such estimates and assumptions, which were decided upon by the management in good faith at the time the accounts were prepared, the original estimates and assumptions are adapted accordingly in the accounting period in which the data changes. The impact of such changes is recorded in total com-prehensive income of the relevant period.

Ascom Group’s business activities are not subject to pronounced seasonal fluctuations. How-ever, experience has shown that, factoring out economic influences, higher sales and therefore higher profitability are usually generated in the second half of the year largely following the invest-ment spending patterns of Ascom’s customers.

Income tax in the interim periods is accrued using the tax rate that would be applicable to expected total annual earnings.

Ascom Holding Ltd., the parent company of the Group, is a public limited company and is domi-ciled in Baar, Switzerland.

2. ACCOUNTING PRINCIPLES

The consolidated interim financial statements were prepared according to the same accounting prin-ciples as those applied for the consolidated financial statements for the year ended 31 December 2014, except as described below.

The following new standards and amendments to standards are mandatory for the first time for the financial year beginning 1 January 2015:

IAS 19 (amendment) – “Defined Benefit Plans: Employee Contributions”, Annual Improvements to IFRSs 2010–2012 Cycle, and Annual Improvements to IFRSs 2011–2013 Cycle. These new standards and amendments have no significant impact on the Group’s financial statements.

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

11ASCOM HALF-YEAR REPORT 2015 NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

3. FOREIGN CURRENCY TRANSLATION

Ascom is exposed to translational and transactional effects of foreign currency fluctuations, in par-ticular to currencies below:

CHFm ISO code Unit 30.6.2015 Average1st half-year

2015

31.12.2014 Average1st half-year

2014

Euro EUR 1 1.041 1.069 1.203 1.220

Pound sterling GBP 1 1.464 1.454 1.538 1.486

Swedish krona SEK 1 0.113 0.114 0.127 0.136

US dollar USD 1 0.931 0.949 0.989 0.890

On 15 January 2015, the Swiss National Bank removed the currency ceiling against the Euro, which resulted in a significant strengthening of the Swiss franc against all major currencies in which the Group operates. The expansion of Ascom’s international presence and the various acquisitions and divestments made in past years have significantly reduced the exposure of Ascom’s business opera-tions to fluctuations of the Swiss franc vis-à-vis other major currencies. With less than 100 employees currently employed in Switzerland (approximately 6% of Ascom’s employee base), Ascom’s Swiss cost base is largely matched by earnings generated in Switzerland.

4. SEGMENT INFORMATION

Operating segments reflect the Group’s management structure and the way financial information is regularly reviewed by the Group’s chief operating decision maker, defined as the Chief Executive Officer (CEO). Ascom’s operating and reportable segments are the two focused core divisions:

Wireless Solutions provides high-value, wireless and customer-specific on-site communication and workflow optimization solutions, primarily for healthcare but also for retail, industrial, hotel and secure establishments.

Network Testing offers expertise and solutions that enable wireless operators to expand and optimize network capacity and operation through testing, benchmarking, measurement and ongoing network analysis.

All other activities do not qualify as operating segment and are summarized in “Other”. They comprise non-core activities related to businesses disposed of in prior years, mainly leasing and facility management of industrial properties under long-term sale-leaseback and service contracts ending in 2015.

Corporate includes Group activities that cannot be assigned directly to the operating segments, primarily corporate headquarters activities.

12 ASCOM HALF-YEAR REPORT 2015 NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

CHFm 1st half-year

Wireless Solutions

Network Testing

Other Corporate Consolidation Total Ascom

2015 2014 2015 2014 2015 2014 2015 2014 2015 2014 2015 2014

Incoming orders 160.0 161.9 50.1 57.9 1.7 9.3 – – (0.2) (0.1) 211.6 229.0

Order backlog 119.5 125.5 25.3 39.4 – 0.1 – – – – 144.8 165.0

Revenue 147.2 140.8 54.6 52.7 1.7 9.3 – – (0.2) (0.1) 203.3 202.7

of which with other segments 0.2 0.1 – – – – – – (0.2) (0.1) – –

Cost of goods sold (72.0) (71.1) (25.1) (24.1) (1.5) (9.3) – – – (0.6) (98.6) (105.1)

Gross profit/(loss) 75.2 69.7 29.5 28.6 0.2 – – – (0.2) (0.7) 104.7 97.6

as % of revenue 51.1% 49.5% 54.0% 54.3% 11.8% n/a n/a n/a n/a n/a 51.5% 48.1%

Marketing and sales (34.9) (35.8) (13.1) (11.9) (0.4) – (0.3) (0.3) – 0.7 (48.7) (47.3)

Research and development (11.9) (11.8) (10.2) (9.6) – – – – – – (22.1) (21.4)

Administration (5.8) (5.9) (4.7) (4.4) (0.1) (0.2) (6.7) (6.5) 0.2 – (17.1) (17.0)

Amortization of intangible assets from acquisition

(0.5) (0.6) (3.9) (5.1) – – – – – – (4.4) (5.7)

Other income/(expenses), net (3.7) (2.8) (2.1) (1.6) – 4.6 6.0 5.8 – – 0.2 6.0

EBIT 18.4 12.8 (4.5) (4.0) (0.3) 4.4 (1.0) (1.0) – – 12.6 12.2

as % of revenue 12.5% 9.1% n/a n/a n/a 47.3% n/a n/a n/a n/a 6.2% 6.0%

Financial income/(expenses), net 1.8 (2.6)

Earnings before income tax 14.4 9.6

Income tax (3.4) (1.4)

Group profit for the period 11.0 8.2

EBITDA 21.2 15.4 0.4 2.3 (0.1) 4.6 (1.0) (1.0) – – 20.5 21.3

as % of revenue 14.4% 10.9% 0.7% 4.4% n/a 49.5% n/a n/a n/a n/a 10.1% 10.5%

Capital expenditures 4.4 5.7 1.1 0.4 0.1 – – – – – 5.6 6.1

Employees (FTE) at the end of the period

1,217 1,169 476 466 – – 15 12 – – 1,708 1,647

Transfer prices between Ascom’s operating segments are on an arm’s length basis in a matter similar to transactions with third parties. Intersegment revenues are eliminated on consolidation.

Reportable segments’ assets are reconciled to total assets as follows:

CHFm Wireless Solutions

Network Testing

Other Corporate Consolidation Total Ascom

30.6. 2015

31.12. 2014

30.6. 2015

31.12. 2014

30.6. 2015

31.12. 2014

30.6. 2015

31.12. 2014

30.6. 2015

31.12. 2014

30.6. 2015

31.12. 2014

Reportable segments’ assets 138.8 168.1 200.2 225.9 5.3 6.4 3.9 3.5 (3.3) (2.3) 344.9 401.6

Deferred income tax assets 12.5 11.6

Financial assets 3.7 2.8

Income tax receivables 2.6 2.4

Cash and cash equivalents 37.7 50.2

Total assets 401.4 468.6

13

5. DIVIDENDS PAID, OWN SHARES, SHARE-BASED PAYMENTS

At 15 April 2015, the Annual General Meeting of Ascom Holding Ltd. approved a dividend of CHF 0.45 per share entitled to dividends. The total payout amounted to CHF 15.8 million.

In the period under review, Ascom disposed 284,177 registered shares in conjunction with the exercise of options in relation to the Ascom Stock Option Plans.

During the period under review, 284,177 options of the Ascom Stock Option Plans were exercised and the remaining 523,000 are still outstanding at 30 June 2015.

6. BORROWINGS

At 30 June 2015, the Group’s total credit facilities comprised cash lines of CHF 140.0 million and guar-antee lines of CHF 46.5 million available from financial institutions and banks worldwide (31 Decem-ber 2014: cash lines of CHF 143.8 million and guarantee lines of CHF 47.2 million). At 30 June 2015, Ascom used the cash credit lines as shown in the following table:

CHFm 30.6.2015 31.12.2014

Non-current 0.2 23.1

Current 15.0 –

Total borrowings 15.2 23.1

The financial covenants contained in these credit facilities are fully complied with. The fair value of the borrowings is equal to their carrying amount.

As the final maturity of the Group’s main credit facilities is 24 May 2016, the outstanding borrowings at 30 June 2015 have been classified as current. The Group will secure its liquidity require-ments through a refinancing prior to maturity of existing credit facilities.

7. FINANCIAL INSTRUMENTS

Contingent considerationThe purchase price of the technology-related business acquired from Veelong Corp. at 3 January 2012 included a performance-related part (contingent consideration). At 20 April 2015, a total amount of CHF 1.8 million was paid out under this agreement. At 30 June 2015, the remaining contingent consideration amounts to CHF 0.2 million (31 December 2014: CHF 2.2 million). No adjustment to the fair value was necessary in the period under review.

Fair value estimationNeither significant changes in the fair value hierarchy nor in the fair value measurement assumptions of financial instruments occurred in the period under review.

14 ASCOM HALF-YEAR REPORT 2015

8. TIME OF RELEASE FOR PUBLICATION

The Board of Directors approved the 2015 consolidated interim financial statements on 12 August 2015 and gave permission for publication at the media conference on 19 August 2015.

9. SHARE INFORMATION

1st half-year 2015

Fiscal year 2014

Number of registered shares nom. CHF 0.50 at the end of the period 36,000,000 36,000,000

Share price per registered share in CHF (high/low of the period under review) 17.05/12.80 18.29/11.85

Share price per registered share at the end of the period in CHF 16.45 15.25

Market capitalization at the end of the period in CHFm 592.2 549.0

15ASCOM HALF-YEAR REPORT 2015 WORLDWIDE CONTACTS

Australia/New Zealand, SydneyAscom Integrated Wireless Pty. Ltd.au-sales@ascom-ws.com

Austria, ViennaAscom Network Testing ABZweigniederlassung Österreichtems.sales.emea@ascom.com

Belgium, BruxellesAscom (Belgium) NVdirection@ascom.be

Brazil, São PauloAscom Soluções em Telefonia Movél Limitadatems.sales.americas@ascom.com

China, BeijingAscom (Beijing) Network Testing Service Co., Ltd.tems.sales.china@ascom.com

Denmark, GlostrupAscom Danmark A/Sinfo@ascom.dk

Finland, TurkuAscom Miratel Oymyynti@ascom.com

France, NanterreAscom (France) S.A.info@ascom.fr

Germany, Frankfurt a. M.Ascom Deutschland GmbHinfo@ascom.de

India, BangaloreAscom Network Testing Private Limitedtems.sales.india@ascom.com

Malaysia, AmpangAscom (Malaysia) Sdn Bhdsales-my@ascom.my

Malaysia, Subang JayaAscom Network Testing Sdn Bhdtems.sales.apac@ascom.com

Netherlands, UtrechtAscom (Nederland) B.V.info@ascom.nl

Norway, OsloAscom (Norway) A/Sfirmapost@ascom.no

South Africa, JohannesburgAscom Network Testing (Pty) Ltd.tems.sales.emea@ascom.com

Spain, MadridAscom Network Testing ABSucursal Españatems.sales.emea@ascom.com

Sweden, GothenburgAscom (Sweden) ABseinfo@ascom.se

Sweden, SkellefteåAscom Network Testing ABcustomercare.tems@ascom.com

Switzerland, BaarAscom Holding AGinvestor@ascom.com

Switzerland, BaarAscom Management AGinvestor@ascom.com

Switzerland, MägenwilAscom Solutions AGinfo@ascom.de

Switzerland, SolothurnAscom Solutions AGtems.sales.emea@ascom.com

United Arab Emirates, DubaiAscom MEA FZ-LLCtems.sales.emea@ascom.com

United Kingdom, BirminghamAscom (UK) Ltd.sales@ascom.co.uk

United Kingdom, ElsteadAscom Network Testing Ltd.tems.sales.emea@ascom.com

USA, Morrisville NCAscom (US) Inc.info@ascomwireless.com

USA, Reston VAAscom Network Testing Inc.tems.sales.americas@ascom.com

WORLDWIDE CONTACTS

DATES AND CONTACTS

Important dates

9 March 2016Annual Media Conference

13 April 2016Annual General Meeting

Contact addresses

Ascom Group CommunicationsAscom Holding AGDaniel Lack, General Secretary & CCOZugerstrasse 32 | CH-6340 Baar+41 41 544 78 00 | Fax 41 761 97 25info@ascom.com

Ascom Investor RelationsAscom Holding AGBianka Wilson, CFOZugerstrasse 32 | CH-6340 Baar+41 41 544 78 00 | Fax 41 761 97 25investor@ascom.com

Publishing details

Publisher Ascom Holding Ltd., BaarFinancial Statements Ascom Group Finance, BaarEditorial Tolxdorff & Eicher Consulting, HorgenTranslation CLS Communication AG, ZurichPhotos page 2: Daniel Hager, Zurich; cover: Severin Jakob, ZurichConcept, Design & Realization Linkgroup, Zurich

© Ascom Holding Ltd. 2015

Declaration of forward-looking statements

This Half-year Report contains forward-looking state-ments relating to Ascom. Because these forward-looking statements are subject to risks and uncertainties, the reader is cautioned that actual future results may differ from those expressed in or implied by the statements, which constitute projections of possible developments. All forward-looking statements are based only on data available to Ascom at the time of preparing this Half-year Report.

The complete 2015 Half-year Report of the Ascom Group is available in English only and can be viewed online at: www.ascom.com/hyr2015-en