Sunrise repricing and extension of term loan and revolving credit facilities and updated S&P Global Ratings publication Donnerstag, 22. Dezember 2016 - 17:45

Investor Information

Zurich, December 22, 2016; 17:45

Sunrise repricing and extension of term loan and revolving credit facilities and updated S&P Global Ratings publication

Sunrise Communications Group AG (“Sunrise” or “Company”) today announces that the Company and its subsidiaries (the “Sunrise Group”) have successfully received consent to reprice and extend their CHF 1,360 million Term Loan B (“TLB”) and CHF 200 million Revolving Credit Facilities (“RCF”) with completion expected on or about December 30^th, 2016 (subject to documentation and satisfaction of customary conditions precedent). The transaction was arranged by BNP Paribas, Deutsche Bank AG, London Branch, DNB Markets, a part of DNB Bank ASA and UniCredit Bank AG and will result in a TLB margin reduction of 50 bps and a TLB maturity extension from February 2021 to February 2022 and an RCF margin reduction of 25 bps and an RCF maturity extension from February 2020 to August 2021, enabling an annual cash interest cost reduction of approximately CHF 7.2 million. Additionally, the Company received consent for certain technical amendments of its senior facilities agreement.

In addition, S&P Global Ratings (“S&P”) announced on December 16^th, 2016, that it has reviewed Sunrise Communications Holdings S.A.’s recovery and issue-level ratings (which had been previously labelled as "under criteria observation" after publication of S&P’s revised recovery ratings criteria on December 7, 2016). As a result, S&P has raised the issue ratings to 'BBB-' from 'BB+' and revised the recovery rating to '2' from '3' on the Sunrise Group's senior secured term loan, revolving credit facility and senior secured notes.

Sunrise

Uwe Schiller

Director Investor Relations

P.O. Box

CH-8050 Zürich

investor.relations@sunrise.net

www.sunrise.ch/ir

Phone: +41 58 777 96 86

About Sunrise

Sunrise Communications Group AG (Sunrise) is listed on the SIX Swiss Exchange in Zurich and is the leading fully-integrated challenger delivering a full range of services across all market segments. Sunrise is the leading non-incumbent operator in both the mobile (prepaid and postpaid) and landline retail voice markets, as well as the third-largest landline internet provider with IPTV, with approximately 3.3 million customer relationships, as of December 31, 2015. Sunrise is committed to deliver a best-in-class convergent experience.

For more information regarding Sunrise, please visit: www.sunrise.ch

Disclaimer

The information contained in this media release has not been independently verified and no representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness, reasonableness or correctness of the information or opinions contained herein. None of Sunrise Communications Group AG, its subsidiaries or any of their respective employees, advisers, representatives or affiliates shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this document or its contents or otherwise arising in connection with this media release. The information contained in this media release is provided as at the date of this media release and is subject to change without notice.

Statements made in this media release may include forward-looking statements. These statements may be identified by the fact that they use words such as “anticipate”, “estimate”, “should”, “expect”, “guidance”, “project”, “intend”, “plan”, “believe”, and/or other words and terms of similar meaning in connection with, among other things, any discussion of results of operations, financial condition, liquidity, prospects, growth, strategies or developments in the industry in which we operate. Such statements are based on management’s current intentions, expectations or beliefs and involve inherent risks, assumptions and uncertainties, including factors that could delay, divert or change any of them. Forward-looking statements contained in this media release regarding trends or current activities should not be taken as a representation that such trends or activities will continue in the future. Actual outcomes, results and other future events may differ materially from those expressed or implied by the statements contained herein. Such differences may adversely affect the outcome and financial effects of the plans and events described herein and may result from, among other things, changes in economic, business, competitive, technological, strategic or regulatory factors and other factors affecting the business and operations of the company. Neither Sunrise Communications Group AG nor any of its affiliates is under any obligation, and each such entity expressly disclaims any such obligation, to update, revise or amend any forward-looking statements, whether as a result of new information, future events or otherwise. You should not place undue reliance on any such forward-looking statements, which speak only as of the date of this media release.

It should be noted that past performance is not a guide to future performance. Please also note that interim results are not necessarily indicative of full-year results.

Legal Notice

This announcement is not an offer to sell, or a solicitation of an offer to purchase, any securities of the Company or of the Sunrise Group in any jurisdiction, nor shall it or any part of it form the basis of, or be relied on in connection with, any contract or investment decision. This announcement is not for publication or distribution (directly or indirectly) in or to any jurisdiction in which such distribution would be unlawful.

This announcement is not an offering circular within the meaning of Article 652a of the Swiss Code of Obligations, nor is it a listing prospectus within the meaning of the listing rules of the SIX Swiss Exchange or a prospectus under any other applicable laws. Investors should not subscribe for or purchase any securities referred to in this announcement except on the basis of information in any prospectus (and any supplement(s) thereto). This document does not constitute a recommendation regarding the shares.

This announcement is not an invitation nor is it intended to be an inducement to engage in investment activity for the purpose of Section 21 of the Financial Services and Markets Act 2000, as amended.

No money, securities or other consideration is being solicited, and, if sent in response to the information contained herein, will not be accepted.

Neither the content of any website of the Sunrise Group or the Company nor any website accessible by hyperlinks on any website of the Sunrise Group or the Company is incorporated in, or forms part of, this announcement.

This disclosure includes the release of inside information by Sunrise Communications Holdings S.A. under Article 17(1) of the Market Abuse Regulation (Regulation (EU) 596/2014).