Telecoms and 5G

“As a result of rapidly growing usage of mobile data and other wireless services and the corresponding wireless industry capital spending trends in the markets we serve, we anticipate consistent demand for our communications sites. We believe that our global asset base positions us well to benefit from the increasing proliferation of advanced wireless devices and the increasing usage of high bandwidth applications on those devices.”

Annual report 2025A · The company itself

“Strategy Operational Strategy As wireless communications technologies advance and the use of wireless services on handsets, tablets and other advanced mobile devices grows, there is a corresponding increase in demand for the communications infrastructure required to facilitate ever growing network demand.”

Annual report 2025A · The company itself

“In the United States, incremental carrier network activity is being driven by ongoing 5G network deployments. In our international markets, carriers are increasingly deploying more advanced network technologies such as 4G and, in the case of our international markets with more mature network technology, 5G, while continuing to selectively augment legacy networks.”

Annual report 2025A · The company itself

“RISK FACTORS Risks Related to Our Business Strategy A significant decrease in leasing demand for our communications infrastructure would materially and adversely affect our business and operating results, and we cannot control that demand. A significant reduction in leasing demand for our communications infrastructure would materially and adversely affect our business, results of operations or financial condition.”

Annual report 2025A · The company itself

“In addition, extensive sharing of site infrastructure through RAN sharing, roaming or resale arrangements among wireless service providers, including due to increases in advanced network technology such as 5G, as an alternative to leasing our communications sites, without compensation to us, may cause new lease activity to slow if carriers utilize shared equipment rather than deploy new equipment, or may result in the decommissioning of equipment on certain existing sites because portions of the customers’ networks may become redundant.”

Annual report 2025A · The company itself

“New technologies or changes, or lack thereof, in our or a customer’s business model could make our communications infrastructure leasing business less desirable and result in decreasing revenues and operating results. The development and implementation of new technologies designed to enhance the efficiency of wireless networks or changes in a customer’s business model could reduce the need for tower-based wireless services, decrease demand for tower space or reduce previously obtainable lease rates.”

Annual report 2025A · The company itself

“Additionally, certain small cell complementary network technologies or satellite services could shift a portion of our customers’ network investments away from traditional tower-based networks, which may reduce the need for carriers to add more equipment at certain communications sites.”

Annual report 2025A · The company itself

“Additionally, our customers may overestimate or overvalue the benefits and use of 5G networks and other new technology that are deployed onto our communications sites that, in turn, could adversely affect our customers' growth, thereby adversely affecting our growth.”

Annual report 2025A · The company itself

“Additionally, our communications sites could be subject to attacks instigated by claims that the deployment of 5G or similar networks is linked to adverse health effects.”

Annual report 2025A · The company itself

“We own and operate DAS networks in the United States and certain international markets. We obtain rights from property owners to install and operate in-building DAS networks, and we grant rights to wireless service providers to attach their equipment to our installations.”

Annual report 2025A · The company itself

“We own and operate other telecommunications assets, including fiber and related assets, in certain international markets. We currently provide the right to use such fiber and related assets to communications and internet service providers and third-party operators to support their telecommunications infrastructure. •Property Interests.”

Annual report 2025A · The company itself

“PROPERTIES As of December 31, 2025, we owned and operated a portfolio of 149,686 communications sites, including 862 DAS networks.”

Annual report 2025A · The company itself

“Our primary business is the leasing of space on communications sites to wireless service providers, radio and television broadcast companies, wireless data providers, government agencies and municipalities and tenants in a number of other industries.”

Annual report 2025A · The company itself

“Our top tenants by revenue for each property segment are as follows for the year ended December 31, 2025: •U.S. & Canada: AT&T Inc. (“AT&T”); T-Mobile US, Inc. (“T-Mobile”); and Verizon Communications Inc. (“Verizon Wireless”) accounted for an aggregate of 85% of U.S. & Canada property segment revenue.”

Annual report 2025A · The company itself

“•Africa & APAC: Bharti Airtel Limited (“Airtel”); and MTN Group Limited (“MTN”) accounted for an aggregate of 81% of Africa & APAC property segment revenue. •Europe: Telefónica S.A. (“Telefónica”) accounted for an aggregate of 70% of Europe property segment revenue. •Latin America: América Móvil; AT&T; Telefónica; and TIM S.p.A. accounted for an aggregate of 71% of Latin America property segment revenue.”

Annual report 2025A · The company itself

“For example, during the second half of 2025, Echostar Corporation, parent company to DISH, announced agreements to sell a material amount of spectrum licenses, and subsequently began to abandon and decommission deployment of portions of its 5G VoNR and broadband network. DISH represented approximately 2% and 4% of our total annual property revenue and total annual U.S. & Canada property revenue, respectively, for 2025.”

Annual report 2025A · The company itself

“Our customers are primarily wireless service providers, broadcasters and other companies in a variety of industries. For the year ended December 31, 2025, our top four customers by total revenue were T-Mobile (18%), AT&T (17%), Verizon Wireless (14%) and Telefónica (10%).”

Annual report 2025A · The company itself

“In mobile, subscriber growth remained strong, supported by the expansion of device protection programs globally, and we deepened key carrier relationships, including by signing a new agreement with a large U.S. mobile carrier.”

Annual report 2025A · The company itself

“Global Lifestyle is dependent on a few clients, in particular those in the mobile eco-system including carriers and MSOs. A reduction in business with or the loss of one or more such clients could have a material adverse effect on our results of operations and cash flows.”

Annual report 2025A · The company itself

“In Connected Living, we partner with the mobile eco-system (including carriers, retailers, OEMs and cable MSOs) and financial and other institutions to market our mobile device solutions, with some of the largest OEMs, consumer electronics retailers, appliance retailers (including e-commerce retailers) and cable operators to market our extended service contracts and related services, and with financial institutions, insurers and retailers to market our credit and other insurance products.”

Annual report 2025A · The company itself

“OPERATING ENVIRONMENT AND TRENDS OF THE BUSINESS 2026 Revenue Trends We expect revenue growth in our wireless and broadband businesses as customers demand instant connectivity and higher speeds made possible by wireless network enhancements through 5G deployment and our fiber network expansion.”

Annual report 2025A · The company itself

“We are in a period of rapid growth in wireless video and data usage and believe that there are substantial opportunities available for next-generation integrated services that 27 AT&T Inc. Dollars in millions except per share amounts combine technologies and services.”

Annual report 2025A · The company itself

“Wireless Industry-wide network densification and 5G technology expansion efforts, which are needed to satisfy extensive demand for video and internet access, will involve significant deployment of “small cell” equipment.”

Annual report 2025A · The company itself

“Additional spectrum will be needed industrywide for 5G and future services. On July 4, 2025, as part of the omnibus reconciliation package (One Big Beautiful Bill (OBBB)), the President signed into law a provision that reauthorized, for 10 years, FCC statutory authority to conduct spectrum auctions and further required auction of 800 MHz of spectrum within eight years.”

Annual report 2025A · The company itself

“In November 2024, we agreed to purchase select spectrum licenses from United States Cellular Corporation (UScellular) for approximately $1,000, subject to closing conditions, including the consummation of UScellular’s sale of its wireless operations and select spectrum assets to T-Mobile US, Inc. We completed our acquisition of these licenses on January 13, 2026, with a cash payment of $1,018.”

Annual report 2025A · The company itself

“On May 21, 2025, we agreed to acquire substantially all of Lumen’s Mass Markets fiber business for $5,750 in cash, subject to purchase price adjustments. At the time of signing, the pending acquisition covered approximately one million fiber customers, and also included fiber network assets that reached more than four million fiber locations.”

Annual report 2025A · The company itself

“Improvements in these services depend on many factors, including continued access to and deployment of adequate spectrum and the capital needed to expand our wireline network to support transport of these services.”

Annual report 2025A · The company itself

“We have spent, and plan to continue spending, significant capital and other resources on the ongoing development and deployment of our 5G and fiber networks.”

Annual report 2025A · The company itself

“We intend for these efficiencies to enable increased investments in our strategic areas of focus, which include improving broadband connectivity (for example, fiber and 5G).”

Annual report 2025A · The company itself

“Increases in our debt levels to fund spectrum purchases, or other strategic decisions could adversely affect our ability to finance future debt at attractive rates and reduce our ability to respond to competition and adverse economic trends. We intend to and have incurred debt to fund significant acquisitions, as well as spectrum purchases needed to compete in our industry.”

Annual report 2025A · The company itself

“Expected Growth Areas Over the next few years, we expect our growth to come from wireless and IP-based fiber broadband services.”

Annual report 2025A · The company itself

“Integration of Wireless and Fiber Services The communications industry has evolved into internet-based technologies capable of converging the offering of wireline and wireless services. As the owner and operator of scaled wireless and fiber networks, we plan to continue to focus on expanding our wireless network capabilities and providing broadband offerings that allow customers to integrate their home or business fixed services with their mobile service.”

Annual report 2025A · The company itself

“As a provider of telecommunications and technology services, we sell handsets, wireless data cards, wireless computing devices and customer premises equipment manufactured by various suppliers for use with our voice and data services and depend on suppliers to provide us, directly or through other suppliers, with items such as network equipment, customer premises equipment, and wireless-related equipment such as mobile hotspots, handsets, wirelessly enabled computers, wireless data cards and other connected devices for our customers.”

Annual report 2025A · The company itself

“Segment Operating Revenues Mobility $ 89,482 $ 85,255 $ 83,982 5.0 % 1.5 % Business Wireline 17,231 18,819 20,883 (8.4) (9.9) Consumer Wireline 14,183 13,578 13,173 4.5 3.1 Total Segment Operating Revenues $ 120,896 $ 117,652 $ 118,038 2.8 % (0.3) % Segment Operating Income (Loss) Mobility $ 27,196 $ 26,314 $ 25,861 3.4 % 1.8 % Business Wireline (816) (88) 1,289 — — Consumer Wireline 1,547 869 651 78.0 33.5 Total Segment Operating Income $ 27,927 $ 27,095 $ 27,801 3.1 % (2.5) % Operating revenues increased in 2025, driven by increases in Mobility service revenue and our Consumer Wireline business unit, driven by gains in wireless and broadband services.”

Annual report 2025A · The company itself

“Dollars in millions except per share amounts Service revenue increased during 2025, largely due to growth from subscriber gains, partially offset by promotional activity.”

Annual report 2025A · The company itself

“Broadband revenues increased in 2025, driven by an increase in fiber revenues of 17.0%. Higher fiber revenues reflect an increase in fiber customers, which we expect to continue as we invest further in building our fiber footprint, and higher ARPU.”

Annual report 2025A · The company itself

“Fiber and advanced connectivity services revenues increased in 2025, driven by higher fiber and fixed wireless revenues.”

Annual report 2025A · The company itself

“As of December 31, 2025, we served 145 million wireless subscribers in North America, with 120 million in the United States. Our LTE technology covers over 441 million people in North America, and in the United States, we cover all major metropolitan areas and over 337 million people.”

Annual report 2025A · The company itself

“Segment Operating Revenues Mobility $ 89,482 $ 85,255 $ 83,982 5.0 % 1.5 % Business Wireline 17,231 18,819 20,883 (8.4) (9.9) Consumer Wireline 14,183 13,578 13,173 4.5 3.1 Total Segment Operating Revenues $ 120,896 $ 117,652 $ 118,038 2.8 % (0.3) % Segment Operating Income (Loss) Mobility $ 27,196 $ 26,314 $ 25,861 3.4 % 1.8 % Business Wireline (816) (88) 1,289 — — Consumer Wireline 1,547 869 651 78.0 33.5 Total Segment Operating Income $ 27,927 $ 27,095 $ 27,801 3.1 % (2.5) % Operating revenues increased in 2025, driven by increases in Mobility service revenue and our Consumer Wireline business unit, driven by gains in wireless and broadband services.”

Annual report 2025A · The company itself

“For example, in fiscal 2025, our five largest customers contributed approximately 50% of our revenue, a cloud provider customer accounted for approximately 18% of our revenue, and a service provider accounted for approximately 11% of our revenue.”

Annual report 2025A · The company itself

“Business Overview We are a network technology company, providing hardware, software, and services to a wide range of network operators and enabling enhanced network capacity, service delivery, and automation.”

Annual report 2025A · The company itself

“Products and services at a point in time $ 3,493,492 $ 67,013 $ 21,842 $ 55,036 $ 3,637,383 Products and services transferred over time — 236,860 47,328 464,978 749,166 Total revenue by timing of revenue recognition $ 3,493,492 $ 303,873 $ 69,170 $ 520,014 $ 4,386,549 •Networking Platforms revenue reflects sales of Ciena’s Optical Networking and Routing and Switching product lines. •Optical Networking - includes the 6500 Packet-Optical Platform, the Waveserver® system, the 6500 Reconfigurable Line System (RLS), coherent pluggable transceivers, and other optical networking products. •Routing and Switching - includes the 3000 family of service delivery platforms and 5000 family of service aggregation platforms, the 8100 Coherent IP networking platforms, virtualization software, and other routing and switching portfolio products.”

Annual report 2025A · The company itself

“In addition to their direct purchases, these customers have also been significant purchasers of capacity on service provider submarine and wireline networks globally, and have heavily influenced networking solution demand and technology and architecture adopted by service providers. •Service Providers. Our communications service provider (“service provider”) customers include regional, metro, national and international wireline and wireless carriers, submarine network operators, and access network providers.”

Annual report 2025A · The company itself

“Wireless We offer wireless services for wireless handsets, tablets and smart watches (“wireless devices”) to residential customers in the United States and the United Kingdom using mobile virtual network operator (“MVNO”) rights. Our domestic wireless services are offered over Verizon’s wireless network and our existing network of secure residential, outdoor and business Wi-Fi hotspots, and are offered initially only as part of our bundled service offerings to customers that subscribe to our qualifying broadband services.”

Annual report 2025A · The company itself

“•Connectivity & Platforms’ broadband services compete primarily against wireline telecommunications companies, including many that are increasing deployment of fiber-based networks; wireless telecommunications companies offering internet services (using a variety of wireless technologies, including 5G fixed wireless networks and 4G and 5G wireless broadband services); municipalities and power companies in the United States that own and operate their own broadband networks; and satellite broadband providers.”

Annual report 2025A · The company itself

“For example, current and new wireless internet technologies (including 5G fixed wireless networks and 4G and 5G wireless broadband services) continue to evolve rapidly and may allow for greater speed and reliability for those services as compared with prior technologies and create further competition for our businesses.”

Annual report 2025A · The company itself

“•Our wireless and voice services compete with both telecommunications and wireless telecommunication providers. •Competition for video services consists primarily of DTC streaming service providers and aggregators, DBS providers and telecommunications companies. •Business Services Connectivity primarily competes with wireline telecommunications companies and wide area network managed service providers. •Our businesses in Content & Experiences, as well as our video business, face substantial and increasing competition from providers of similar types of entertainment, sports, news and information content, as well as from other forms of entertainment, including from social networking and user-generated content or technologies such as AI that can rapidly produce large volumes of content, as well as tourism, recreational activities and lodging.”

Annual report 2025A · The company itself

“As global demand driven by video usage grows exponentially, telecommunications networks continue to migrate from copper to optical-based systems that can deliver the required cost-effective capacity. Additionally, the rapid acceleration of artificial intelligence (“AI”) is driving strong demand for fiber and connectivity products inside and between data centers.”

Annual report 2025A · The company itself

“Today, Corning’s markets include optical communications, display, mobile consumer electronics, automotive, life sciences, semiconductors and solar.”

Annual report 2025A · The company itself

“These products may be sold as individual components or as part of integrated optical connectivity solutions designed for various carrier network applications. Examples of these solutions include our Evolv™ platform, which provides pre-connectorized solutions for cost-effectively deploying fiber-to-the-home and 5G networks; and the Centrix platform, which provides a fiber management system with industry-leading density and innovative jumper routing that can be deployed in a wide variety of carrier switching centers.”

Annual report 2025A · The company itself

“The Optical Communications segment is divided into two main product groupings – carrier network and enterprise network. The carrier network group consists primarily of products and solutions for optical-based communications infrastructure for services such as video, data and voice communications.”

Annual report 2025A · The company itself

“Corning’s Optical Communications and Display segments generate a significant amount of the Company’s profits and cash flow; any significant decrease in pricing, volume or market share could have a material and negative impact on our financial results Corning’s ability to generate profits and operating cash flow could be significantly impacted by the profitability of these businesses, which are subject to pricing pressure, industry competition, potential over-capacity or under capacity, development of new technologies and operational and regulatory risks.”

Annual report 2025A · The company itself

“This increase in data consumption is driven by factors such as growth in (1) mobile entertainment (such as mobile video, mobile applications and social networking), (2) mobile internet usage (supporting web browsing and trends in telehealth, remote working, online learning and other remote communications), (3) machine-to-machine applications or the "Internet of Things" (such as connected cars and wearables), and (4) the adoption of other bandwidth-intensive applications (such as cloud services, artificial intelligence and video communications). As a result, consumer wireless devices are trending toward bandwidth-intensive devices, including smartphones, laptops, tablets and other emerging and embedded devices, and U.S. wireless carriers are among the first carriers in the world to offer commercial 5th Generation ("5G") mobile cellular communications services to further support such growth.”

Annual report 2025A · The company itself

“Additionally, a reduction in the amount or change in the mix of network investment by our tenants may materially and adversely affect our business (including reducing demand for our communications infrastructure or services). •A substantial portion of our revenues is derived from a small number of tenants, and the loss, consolidation or financial instability of any of such tenants may materially decrease revenues, reduce demand for our communications infrastructure and services and impact our dividend per share growth. •The expansion or development of our business, including through acquisitions, increased product offerings or other strategic opportunities, may cause disruptions in our business, which may have an adverse effect on our business, operations or financial results.”

Annual report 2025A · The company itself

“The average monthly rental payment from a new tenant added to towers can vary based on (1) aggregate tenant volume, (2) the location of the tower, or (3) the amount of tower and ground space leased to a tenant, which can be influenced by the quantity, size, and weight of the tenant's antenna installation or related equipment. When possible, we seek to receive rental payment increases in connection with tenant contract amendments, pursuant to which our tenants add antennas or other equipment to our towers or ground space on which they already have equipment pursuant to preexisting tenant contracts.”

Annual report 2025A · The company itself

“New wireless technologies may not deploy or be adopted by tenants as rapidly or in the manner projected. There can be no assurances that new wireless services or technologies, which may drive demand for our communications infrastructure, will be introduced or deployed as rapidly or in the manner projected by the wireless carriers. In addition, demand or tenant adoption rates for such new technologies may be lower or slower than anticipated for numerous reasons. As a result, growth opportunities or demand for our communications infrastructure arising from such technologies may not be realized at the times or to the extent anticipated.”

Annual report 2025A · The company itself

“If radio frequency emissions from wireless handsets or equipment on our communications infrastructure are demonstrated to cause negative health effects, potential future claims could adversely affect our operations, costs or revenues. The potential connection between radio frequency emissions and certain negative health effects, including some forms of cancer, has been the subject of substantial study by the scientific community in recent years. We cannot guarantee that claims relating to radio frequency emissions will not arise in the future or that the results of such studies will not be adverse to us. Public perception of possible health risks associated with cellular or other wireless connectivity services and wireless technologies (such as 5G) may slow or diminish the growth of wireless companies and deployment of new wireless technologies, which may in turn slow or diminish our growth.”

Annual report 2025A · The company itself

“Business Overview We own, operate and lease shared communications infrastructure that is geographically dispersed throughout the U.S., including (1) more than 40,000 towers and other structures, such as rooftops (collectively, "towers"), (2) approximately 105,000 small cell nodes either currently generating revenue or under contract and (3) approximately 90,000 route miles of fiber primarily supporting small cells and fiber solutions.”

Annual report 2025A · The company itself

“Table of Contents ​ In the event that a termination under the NSA or the MNSA were to occur, our Wireless subscribers may need to obtain a new device, a new SIM card or receive a software update to continue receiving Wireless services from us. These required measures could cause significant disruption to our Wireless subscriber base which could result in, among other things, a significant increase in our churn rate.”

Annual report 2025A · The company itself

“We are facing increasing competition which could impact demand for, and result in, increasing pricing pressures with respect to, our products and services.”

Annual report 2025A · The company itself

“As a result, adopting new and sophisticated technologies may result in implementation issues, such as scheduling and supplier delays, unexpected or increased costs, technological constraints, regulatory permitting issues, actual or perceived subscriber dissatisfaction and other issues that could cause delays in launching new technological capabilities, which in turn could result in significant costs or reduce the anticipated benefits of the upgrades. If our new services fail to retain or gain acceptance in the marketplace or if costs associated with these services are higher than anticipated, this could have a material adverse effect on our operating results.”

Annual report 2025A · The company itself

“Technology in the pay-TV, wireless and broadband and satellite services industries changes rapidly as new technologies are developed, which could cause our products and services to become obsolete. We and our suppliers may not be able to keep pace with technological developments. Our operating results are dependent to a significant extent upon our ability to continue to introduce new products and services, to upgrade existing products and services on a timely basis and to reduce costs of our existing products and services.”

Annual report 2025A · The company itself

“If the new technologies on which we focus our research and development investments fail to achieve acceptance in the marketplace, our competitive position could be negatively impacted, causing a reduction in our revenues and earnings. For example, our competitors could use proprietary technologies that are perceived by the market as being superior. In addition, delays in the delivery of components or other unforeseen problems associated with our technology may occur that could materially and adversely affect our ability to generate revenue, offer new products and services and remain competitive.”

Annual report 2025A · The company itself

“Our products and services may also experience quality problems, including, but not limited to, outages and service slowdowns, from time to time. If the quality of our products and services does not meet our subscribers’ expectations, then our business, and ultimately our reputation, could be negatively impacted.”

Annual report 2025A · The company itself

“Our Wireless service margins are impacted by, among other things, our MNSA agreement with T-Mobile and our NSA agreement with AT&T and the speed with which we are able to transition Wireless subscribers to our Hybrid MNO Network.”

Annual report 2025A · The company itself

“There is no assurance that the FCC will find our buildout activities sufficient to meet the build-out requirements to which our wireless spectrum licenses are subject. Failure to comply with FCC build-out requirements and/or renewal requirements in a given license area could result in, among other things, acceleration of the build-out deadlines or revocation of the license for that license area. The revocation of a material portion of our wireless spectrum licenses would have a significant material adverse effect on our future business, results of operations and financial condition.”

Annual report 2025A · The company itself

“the consolidation in the wireless industry allows or requires wireless carriers to sell significant portions of their wireless spectrum holdings, which could in turn reduce the value of our spectrum holdings; ● the sale of spectrum by one or more wireless providers occurs; ● the FCC pursues certain policies designed to increase the number of Wireless spectrum licenses available in each of our markets; or ● the FCC conducts additional wireless spectrum auctions.”

Annual report 2025A · The company itself

“i Table of Contents ● Through the MNSA and the NSA, we depend on T-Mobile and AT&T to provide network services to our Wireless subscribers. Our failure to effectively manage these relationships, including without limitation, our minimum commitments, any system failure in their wireless networks, interruption in the services provided to us and/or the termination of the MNSA or the NSA could have a material adverse effect on our business, financial condition and results of operations.”

Annual report 2025A · The company itself

“The Sixth Amendment sets forth new terms including reduced rates if we meet certain minimum data thresholds while transitioning to a Hybrid MNO. Under a Hybrid MNO, we operate certain portions of the network infrastructure such as the network core and billing and provisioning software, while our network partner, AT&T, provides certain elements including base stations, radios, radio access network (RAN) software and spectrum frequencies.”

Annual report 2025A · The company itself

“The SpaceX License Purchase Agreement also provides for future long-term commercial agreements that will enable us to offer our Wireless subscribers access to SpaceX’s next-generation Starlink Direct to Cell text and voice and broadband services utilizing certain rights and licenses related to the Spectrum that are to be conveyed by us to SpaceX at the Spectrum Acquisition Closing. The commercial agreements will also provide for a fee-based referral program that lets us refer existing HughesNet customers and new Starlink customers to SpaceX.”

Annual report 2025A · The company itself

“WIRELESS ​ Business Strategy - Wireless ​ Our Wireless segment business strategy is to expand our current target segments and profitably grow our Wireless subscriber base.”

Annual report 2025A · The company itself

“We originally planned to commercialize our wireless spectrum licenses through the completion of our 5G Network Deployment. However, we were forced to stop that effort based on the FCC’s unequivocal position that: (i) EchoStar’s utilization of its spectrum was not acceptable based on the relatively small number of subscribers using the Boost Mobile MNO network, and (ii) that EchoStar’s continued operations failed to best serve the public interest.”

Annual report 2025A · The company itself

“In July 2021, we entered into the NSA with AT&T to provide us with wireless network services. Under the NSA, we have committed to activate on AT&T a minimum percentage of certain of our Wireless subscribers and to utilize AT&T’s network for a minimum specified percentage of our domestic roaming data usage.”

Annual report 2025A · The company itself

“In order to grow and remain competitive, we will need to adapt to changes in available technology, including, but not limited to, artificial intelligence and machine learning, continually invest in our Hybrid MNO, increase 5G Network capacity, enhance our existing service offerings and introduce new offerings to meet our current and potential subscribers’ changing service demands. Enhancing our 5G Network is subject to risks related to, among other things, equipment choices, network deployment and management and service offerings, including, but not limited to, working with our MVNO partners.”

Annual report 2025A · The company itself

“Wireless ​ Our Wireless segment provides wireless communication services (“Wireless” services) and products. We offer nationwide Wireless services to subscribers primarily under our Boost Mobile® and Gen Mobile® brands.”

Annual report 2025A · The company itself

“As a result of certain acquisitions, we have entered the wireless business. We have made substantial investments to acquire certain wireless spectrum licenses.”

Annual report 2025A · The company itself

“We depend on various key suppliers and vendors to provide us, directly or through other suppliers, with infrastructure, equipment and services, such as switch and network equipment, handsets and other devices and equipment that we would need in order to operate a wireless services business and provide products and services to our subscribers.”

Annual report 2025A · The company itself

“Samtidigt som svenska telekomoperatörer minskar sina investeringar finns det betydande möjligheter på energimarknaden i form av projekt inom e-Mobility, solenergi och eldistribution.”

Annual report 2024A · The company itself

“Eltel Norge minskade och anpassade sin verksamhet under året för att hantera sjunkande investeringar på den norska telekommarknaden.”

Annual report 2024A · The company itself

“Eltels Power-verksamhet i Danmark fortsatte att växa snabbt tack vare växande marknadsmöjligheter, medan vår Communication-verksamhet minskade något på grund av minskande nätverksinvesteringar på en pressad marknad.”

Annual report 2024A · The company itself

“Minskade kundinvesteringar i Communication belastade nettoomsättningen kraftigt under året.”

Annual report 2024A · The company itself

“Förbättra vinsten i vår kärnverksamhet Communication och Power.”

Annual report 2024A · The company itself

“Vår unika expertis inom både kommunikation och el skiljer oss från andra aktörer på marknaden. Denna konkurrensfördel gör det möjligt för oss att leverera komplexa och kompletta lösningar som kräver kompetens inom både kommunikation och el, såsom datacenterprojekt.”

Annual report 2024A · The company itself

“Eltel Sverige lanserade paketerade kundlösningar för e-Mobility, inomhustäckning och generiska telekomtjänster. Kundpaketen gör det enklare för alla i Eltel Sverige att sälja företagets standardutbud.”

Annual report 2024A · The company itself

“AFFÄRSOMRÅDEN PRODUKTOMRÅDEN UTBUD MARKNADER KUNDER NETTOOMSÄTTNING Communication Marknadsledande i Norden. »Mer på sidan 14. • Fast telekom • Mobil telekom • Fast bredband via mobilnätet • Mobil inomhustäckning • Datacenter • Design, installation, uppgradering och service • Norden • Litauen • Telekomoperatörer och nätägare • Industrikunder • Offentlig sektor 61% Power Viktig aktör i Norden.”

Annual report 2024A · The company itself

“Fiberpenetrationen är hög i Norden och kommande projekt kommer att vara mindre än de tidigare. Det finns ökande möjlig heter att förnya och uppgradera befintliga fibernät i Norden samt en växande efterfrågan från aktörer inom offentlig infrastruktur.”

Annual report 2024A · The company itself

“Mobil inomhustäckning och privata 5G-nät är växande marknader för Eltel. Detta omfattar både offentliga och privata infrastrukturlösningar för mobil inomhustäckning.”

Annual report 2024A · The company itself

“Eltel är ledande på den omfattande 5G-mobilkommunikationsmarknaden i Norden.”

Annual report 2024A · The company itself

“Utrullningen av FTTH nådde sin topp under 2024 och cirka 70 procent av de finska hemmen kunde ansluta till ett fibernät. Eltel är verksamma på eftermarknaden inom fiber, och den kommer att vara stark under de närmaste åren.”

Annual report 2024A · The company itself

“Eltel fortsatte att vara marknadsledande inom offshoreradiolänkar i Nordsjön och levererade även system i Västindien.”

Annual report 2024A · The company itself

“Eltel är en leverantör av tjänster för kritisk infrastruktur inom kommunikations- och elnät. Vi levererar ett omfattande utbud av lösningar – från underhålls- och uppgraderingstjänster till totalentreprenad. Detta inkluderar design, planering, konstruktion, installation och säkerställande av driften av nätverk.”

Annual report 2024A · The company itself

“• Offentliga och privata infrastrukturlösningar för mobil inomhustäckning • Fiber i Finland och Danmark • Datacenter • Offentlig infrastruktur KUNDER Våra huvudkunder är stora telekomoperatörer och ägare av kommunikationsnät.”

Annual report 2024A · The company itself

“Eltels huvudkunder är stora telekomoperatörer och nätverksföretag.”

Annual report 2024A · The company itself

“Ni investerar i ett fantastiskt företag som under 2024 levererade en organisk tillväxt på 10 procent både inom sin säkerhetsoch nätverksaffär.”

Annual report 2024A · The company itself

“Våra kunder gör ditt liv på nätet möjligt Mobila nätverk är ryggraden i digitaliseringen. Företag och människor förlitar sig på robusta nätverk för att få tillgång till information, leverera digitala tjänster och förbättra kundupplevelser. Nätverksprestanda och säkerhet är båda avgörande faktorer.”

Annual report 2024A · The company itself

“Med tanke på att tjänsteleverantörernas intäkter inte utvecklas i takt med den ökade nätverkstrafiken skapar detta också efterfrågan på mjukvara för att utnyttja nätverkets resurser bättre, förhindra intäktsläckage och ge konkurrensdifferentiering genom snabb tjänsteförsörjning och överlägsen användarupplevelse.”

Annual report 2024A · The company itself

“Nätverksautomation som drivs av artificiell intelligens, migration till molnplattfor - mar samt nya generationer av Wi-Fi och mobilsystem är några av de teknikskiften som redan pågår och förväntas fortsätta under de kommande åren.”

Annual report 2024A · The company itself

“Ökande efterfrågan på data Telekomnätverk är mitt uppe i migreringen till nya generationssystem för att hantera fortsatt datatrafiktillväxt, driven av videokonsumtion och särskilt krävande inomhus där majoriteten av all data konsumeras. Eftersom nya intäkts - strömmar ännu inte har materialiserats från dessa nya investeringar fokuserar operatörerna på lönsamhet, och där kan Eneas mjukvara spela en roll.”

Annual report 2024A · The company itself

“Teknikskiften mot molnlösningar, AI och femte generationens mobilnätverk (5G) förändrar dynamiken inom marknader som tidigare dominerats av ett fåtal företag.”

Annual report 2024A · The company itself

“Omsättningen från produktgruppen Nätverkslösningar ökade med 10 procent (-10) och uppgick till 429,7 Mkr (391,3).”

Annual report 2024A · The company itself

“En stor del av intäkterna kommer från ett begränsat antal nyckelkunder.”

Annual report 2024A · The company itself

“Enea är beroende av kundernas fortsatta investeringar i kapacitet, effektivitet samt ny teknik. Intäkterna är delvis volymberoende och fluktuerar med kunders produktionsvolymer.”

Annual report 2024A · The company itself

“Under 2024 genererades 42 procent (38) av bolagets intäkter från de 10 största kunderna.”

Annual report 2024A · The company itself

“Qosmos, ledande positioner inom IP-trafikklassificering och nätverksintelligens.”

Annual report 2024A · The company itself

“Openwave Mobility, marknadens mest skalbara NFV-plattform med lösningar för mobiloperatörer.”

Annual report 2024A · The company itself

“Aptilo, lösningar för policy- och åtkomsthantering inom Wi-Fi och Internet of Things.”

Annual report 2024A · The company itself

“Ett exempel är trafikhantering i mobilnätverk, där en brant ökning av videotrafik i kombination med stigande driftskostnader skapar efterfrågan på videooptimering bland mobiloperatörer över hela världen. Ett annat exempel är klassificering av nätverkstrafik, en central funktion i de flesta säkerhetslösningar.”

Annual report 2024A · The company itself

“Ett annat viktigt investeringsområde för oss är att säkra våra produkters konkurrenskraft i de framväxande 5G-näten. Våra kunder skall känna sig trygga med sin investering och att våra produkter levererar oavsett generation av telekomnät.”

Annual report 2024A · The company itself

“Investeringar görs mot marknader med potential för tillväxt och framtida lönsamhet och efter noggrann analys. Investeringar prioriteras inom molnbaserade produkter riktade mot datahantering, säkerhet, mobil videotrafik samt 5G.”

Annual report 2024A · The company itself

“En värdeskapande verksamhet .........11 RAPPORTER Nyckeltal 2024 Fakta 2024 Mkr Omsättning 34% Justerad EBITDA marginal 23% Forskning & Utveckling Om Enea Enea är en världsledande specialist på programvara för telekom och cybersäkerhet.”

Annual report 2024A · The company itself

“Vår produktportfölj omfattar bland annat avancerade brandväggar som skyddar mobilnätverk från cyberattacker, samt lösningar för trafikklassificering, optimering av videotrafik och hantering av WiFi-nätverk.”

Annual report 2024A · The company itself

“Vår affärsidé är att utveckla och sälja mjukvara som skyddar och effektiviserar kommunikation i mobil- och företagsnätverk.”

Annual report 2024A · The company itself

“Attacker mot mobila enheter Bedrägerier meddelandetjänster Regleringar för kritisk *eg SIM Jacker * Artificial Traffic Inflation infrastruktur Säkerhetshot för Försvar på djupet Zero trust Signaleringsattacker meddelandetjänster AI-drivna hot som standard AI & AUTOMATION Data i API exponering Orkestrering över föråldrade Processbaserad flera domäner sidor maskininlärning Vägledd inlärning Generativ AI MOLN & VIRTUALISERING Separerad hård- Nätverks- Privata moln Partnerskap med hyperscaler och mjukvara virtualisering Säkerhet via Portabilitet Containerisering molntjänst (SASE) mellan moln 5G 6G 4G 3G 2G Wi-Fi MOBILNÄTETS UTVECKLING RAPPORTER NÄTVERK Specialiserade mjukvarulösningar för att optimera och hantera data i nätverk, förhöja prestandan och förbättra kundupplevelsen.”

Annual report 2024A · The company itself

“Vi erbjuder produkter och lösningar för digital infrastruktur såsom telekom- och kommunikationsnätverk. Erbjudandet bygger på en unik samlad kompetens som våra specialister besitter inom bland annat 5G, cybersäkerhet och molnbaserade lösningar.”

Annual report 2024A · The company itself

“Enea är en global leverantör av programvara för telekom - munikation och cybersäkerhet. Intäkterna genereras i huvudsak inom produktgrupperna Nätverkslösningar och Säkerhetslösningar, vilket omfattar mobil och fast telekommunikation samt företagsnätverk.”

Annual report 2024A · The company itself

“Enea har fler än 480 medarbetare globalt, finns på över 20 marknader och har partnerskap med mer än 100 ledande kommunikationstjänstleverantörer.”

Annual report 2024A · The company itself

“Enea är verksamt inom telekomnätverk, inomhusnätverk, cybersäkerhetslösningar samt drift av telekomnätverk.”

Annual report 2024A · The company itself

“Den första handlar om direktförsäljning riktad till telekomoperatörer och tjänsteleverantörer på nyckelmarknader i Nordamerika, Europa och Asien. Vi har kontinuerligt stärkt vår säljorganisation och har storskaliga implementeringar och långvariga affärer med många av världens ledande telekomoperatörer och tjänsteleverantörer.”

Annual report 2024A · The company itself

“Säkerhet för, och bedrägerier, i meddelandetjänster Trafikhantering för bättre tjänstekvalitet och intäktsgenerering Hantering av användardata och policy i 4G/5G-nätverk Säker tjänstehantering för sakernas Internet Tjänstehantering för Wi-Fi i nätverk DPI för inbyggnad i trafikmedvetna applikationer Realtidsoperativsystem Plattformar för kommunikationstjänster (CPaaS) Slutanvändare Företagskunder Telekomoperatörer Systemleverantörer Systemleverantörer Systemlever - antörer för cybersäkerhet PRODUKTPORTFÖLJ OCH FÖRSÄLJNINGSMODELLER KUNDER OCH KONKURRENTER Vår största kundgrupp består av stora telekomoperatörer som använder vår mjukvara i sina nätverk för att leverera kommu - nikationstjänster till abonnenter och företag. Detta är en strategiskt viktig kundgrupp som ger möjligheter till långsiktiga kontrakt med stabila intäkter, och som samtidigt ställer höga krav som driver vår innovation och konkurrenskraft.”

Annual report 2024A · The company itself

“Our new IBX data centers require construction and operation of a sophisticated redundant fiber network. The construction required to connect multiple carrier facilities to our IBX data centers is complex and involves factors outside of our control, including regulatory processes and the availability of construction resources. Any hardware or fiber failures on these networks, either on land or subsea, may result in significant loss of connectivity to our new IBX data center expansions.”

Annual report 2025A · The company itself

“We depend on a number of third parties to provide internet connectivity to our IBX data centers; if connectivity is interrupted or terminated, our results of operations and cash flow could be materially and adversely affected. The presence of diverse telecommunications carriers' fiber networks in our IBX data centers is critical to our ability to retain and attract new customers.”

Annual report 2025A · The company itself

“Customers Our customers include telecommunications carriers, mobile and other network services providers, cloud and IT services providers, digital media and content providers, financial services companies, and global enterprise 8 Table of Contents ecosystems in various industries.”

Annual report 2025A · The company itself

“With over 10,500 customers, including 2,000+ network service providers and a leading market share of cloud-on ramps, our position is unmatched in the industry. •The interconnection imperative: Growing digital complexity and real-time operational demands require secure, low-latency private interconnection across clouds, networks, partners, and data sources.”

Annual report 2025A · The company itself

“Risks related to F-Secure’s business operations and strategy If F-Secure’s agreement with a significant business partner or Channel Partner is terminated or expires, or if F-Secure is unable to continue to work with a business partner or Channel Partner on acceptable terms, or if a channel partner fails to fulfill its obligations, this could significantly reduce F-Secure's revenues, increase its costs, hinder its operations and weaken its ability to provide services or solutions to its customers.”

Annual report 2025A · The company itself

“Standard Type Description Time horizon Environment Risk (DVC/OO) Failure to meet climate change mitigation targets may negatively impact channel business Mid-term and Long-term Social Opportunity (OO) Evolving threat landscape, protecting consumers against evolving threat landscape (for example scams) benefits both F-Secure and partners Short-term, mid-term and long-term Opportunity (OO) Use data and AI in security applications, for more effective protection and better user experience.”

Annual report 2025A · The company itself

“The agreement under negotiation contains a minimum guaranteed revenue, starting from the service launch to customers.”

Annual report 2025A · The company itself

“Partner business and especially Embedded Security solutions are expected to drive F-Secure growth during 2026. Growth is expected to accelerate throughout the year as the most significant new Tier 1 services gradually start to generate revenue and support profitability.”

Annual report 2025A · The company itself

“F-Secure products are sold to consumers through approximately 200 CSPs, retailers, banks, insurance companies and directly through online and app stores.”

Annual report 2025A · The company itself

“Negotiations of a significant strategic partnership agreement with a leading Communications Service Provider On 20 November, F-Secure announced that the company is negotiating a significant strategic partnership agreement with one of the world’s leading Tier 1 Communications Service Providers (CSP). The ongoing negotiations relate to delivering F-Secure’s embedded solutions to the customer.”

Annual report 2025A · The company itself

“F-Secure provides consumer cybersecurity solutions to some of the largest Service Providers in the world (“Tier 1 Channel Partners”) and aims to win new Tier 1 Channel Partner contracts. Tier 1 Channel Partners may require solutions that F-Secure is unable to develop, deliver and maintain at the expected level of profitability.”

Annual report 2025A · The company itself

“We serve consumers directly and through approximately 200+ Service Provider partners (communication service providers, retailers, banks, and insurance companies).”

Annual report 2025A · The company itself

“Our channel-based go-to-market model through Service Providers creates the potential to reach hundreds of millions of consumers, prioritizing win-win partner relationships measured by revenue and partner satisfaction.”

Annual report 2025A · The company itself

“Channel Partners include, for example, communication service providers, retailers, banks, and insurance companies.”

Annual report 2025A · The company itself

“Den ökade digitaliseringen i samhället driver på efterfrågan på fiberoptisk infrastruktur. Låga anslutningsnivåer i länder som Tyskland, Storbritannien och USA, utbyggnaden av 5G-nät och den pågående utfasningen av de gamla kopparnäten innebär en strukturellt ökad efterfrågan under kommande år.”

Annual report 2024A · The company itself

“Koncernens verksamhet inom fiberoptiska kablar, rör och nätverksprodukter för FTTH-anslutning, 5G, transportnät, lokala stadsnät och sjökabel.”

Annual report 2024A · The company itself

“Genom förvärvet fick Hexatronic ett ledande systemerbjudande som kunde tas med ut i världen. Sverige och Ericsson var pionjärer inom system för bred - bandsbyggnad av främst FTTH.”

Annual report 2024A · The company itself

“Starkt systemerbjudande inom Fiber Solutions Hexatronic erbjuder helhetslösningar – system – som bidrar till en snabb och kostnadseffektiv utbyggnad av fibernät och innebär att kunderna får stöd genom hela processen, från design till installation. Utbildning, certifiering och fältsupport är viktiga parametrar.”

Annual report 2024A · The company itself

“Hexatronic är en ledande leverantör av fiberoptiska kablar, dukter och nätverksprodukter till kunder runt om i världen. Koncernen tillhandahåller också utbildning samt installations- och driftstjänster.”

Annual report 2024A · The company itself

“Ett sådant samarbete är partnerskapet med MPY, ett finskt telekommunikationsföretag, där Hexatronics moderna och hållbara teknik har varit avgörande för att skapa ett hållbart FTTH-nät.”

Annual report 2024A · The company itself

“Our customer needs span the wide range of technologies employed in modern wired and wireless communications system designs such as 5G, 6G, commercial satellite, 800Gb/sec ethernet, 1.6Tb/sec ethernet, and many others.”

Annual report 2025A · The company itself

“Our customers are expected to continue to make R&D investments in certain next-generation technologies and applications, including evolution of 5G, early 6G, high-speed data center networks and infrastructure, satellite networks, artificial intelligence (“AI”), industrial internet of things (“IoT”), defense modernization, and next generation electric vehicles and autonomous vehicles.”

Annual report 2025A · The company itself

“In October 2025, we acquired Spirent Communications plc (“Spirent”), complementing our position in communications test with additional differentiated solutions and deep customer relationships.”

Annual report 2025A · The company itself

“R&D expense increased 10 percent in 2025 compared to 2024, primarily driven by continued investments in key growth opportunities in our end markets and leading-edge technologies, higher variable people-related costs, and incremental costs from acquired businesses. We continued to prioritize investments prudently in strategic growth areas and advanced technologies.”

Annual report 2025A · The company itself

“Commercial Communications The market for Keysight’s commercial communications solutions spans the communications ecosystem from design through operations and across the industry’s broad spectrum of components, devices, equipment, and services. Our solutions 7 Table of Contents address the communications lifecycle in both wireless and wireline domains, from design and simulation, validation, and characterization, through manufacturing, deployment, and optimization, including cybersecurity testing and certification.”

Annual report 2025A · The company itself

“Our customers represent a diverse group of suppliers across the global industry value chain and include original equipment and contract manufacturers supplying wireless and wireline semiconductors, chipsets, modules, and devices. Our customers also include network equipment manufacturers (“NEMs”) as well as those operating communications and computing networks, including enterprises, communications network service providers, and cloud computing service providers.”

Annual report 2025A · The company itself

“Customers continued their R&D investments in next-generation technologies and applications, including AI-driven data center expansion, ongoing 5G standards development and deployment, 400G/800G Ethernet, development of new communications technologies (such as 6G, Open Radio Access Networks, commercial non-terrestrial networks, quantum), high-speed networking and major defense and government programs worldwide.”

Annual report 2025A · The company itself

“Net Insights tidssynkroniseringsteknologi Precision TimeNet blir global standard genom The International Telecommunication Union (ITU).”

Annual report 2024A · The company itself

“Lösningen är väl positionerad för att fungera som en framtida tillväxtmotor för bolaget, då efterfrågan på robust synkronisering ökar, inte bara inom 5G utom inom många nya marknadssegment såsom kraftnät, bank och finans, IP media och försvarsindustrin.”

Annual report 2024A · The company itself

“Samhället har kommit att bli alltmer beroende av tidssynkronisering. Tidssynkronisering baseras idag främst på GNSS (Global Navigation Satellite Systems), där bland annat de amerikanska GPS och europeiska Galileo-systemen ingår. Samtidigt har tydliga brister avseende sådan tidssynkronisering identifierats i och med signalens känslighet för störning och förfalskning. Det påverkar marknaden för nätbaserade tidssynkroniseringslösningar positivt, där Net Insight har en stark position med sin GNSS/GPS-oberoende lösning.”

Annual report 2024A · The company itself

“Telekomindustrin, särskilt 5G-nät, är beroende av tidssynkronisering, där GNSS används i de flesta nät. 5G-funktionalitet som bygger på befintliga 4G-nät har rullats ut i stora delar av världen. Täckningen i storstäder är till stor del utbyggd, medan 5G utanför stora regioner fortsätter att byggas ut.”

Annual report 2024A · The company itself

“Exempelvis är precis tidssynkronisering en grundförutsättning för många avancerade AI-applikationer, särskilt inom automation och distribuerade system Framför allt USA och APAC är starkt drivande marknader inom 5G, men näten har inte fullt ut levt upp till förväntningarna när det gäller att möjliggöra nya typer av tjänster och därmed skapa potentiella inkomstkällor för mobiloperatörer. Utbyggnaden av så kallade fristående 5G-nät (5G standalone), vilka möjliggör nya avancerade funktioner i näten, har bara påbörjats.”

Annual report 2024A · The company itself

“Kommande tjänster inom 5G riktar sig i växande utsträckning till den publika sektorn, tillverkningsindustrin och media. Många av dessa tjänster är så kallade kritiska tjänster som ställer höga krav på att nätverksinfrastrukturen ska ha god tillgänglighet och säkerhet. En robust tidssynkronisering är då en grundförutsättning för att ett mobilt nätverk ska fungera väl.”

Annual report 2024A · The company itself

“Den potentiella marknaden för 4G och 5G för kritiska kommunikationer är stor och växande och kan enligt analysföretaget SNS Telecom & IT uppgå till 5,5 miljarder USD globalt mot slutet av 2026 .”

Annual report 2024A · The company itself

“Tid och synkronisering skapar mervärde för mobiloperatörer Ett snabbväxande tjänst på marknaden är så kallad Time-as-a-Service (TaaS) där mobiloperatörer kapitaliserar på sina investeringar i 5G och framtida 6G-infrastruktur genom att sälja tid som en tjänst. TaaS erbjuder användare en prenumerationstjänst för exakt tidssynkronisering som säkerställer att servrar, enheter och system är synkroniserade med en standardiserad tidkälla. Det är särskilt viktigt för branscher som bank och finans, media, myndigheter och försvar, kraftnät, tillverkningsindustrin samt transportsektorn.”

Annual report 2024A · The company itself

“Det utgör en stark bas för framtida intäkter i och med att utrullning av nät sker succesivt under en längre tid och kundrelationerna därför är långa.”

Annual report 2024A · The company itself

“Det vanligaste alternativet till GNSS/GPS är nätverksbaserad synkronisering genom standarden Precision Time Protocol (PTP). Till skillnad från 3G/4G kräver 5G-näten exakt tidsynkronisering i samtliga basstationer, vilket gör utrullning och underhåll krångligt och tidskrävande. Dessutom möjliggörs inte tidssynkronisering över hyrda delar av nätverken och många mobiloperatörer har en betydande andel hyrd kapacitet. Net Insights tidssynkroniseringslösning Precision TimeNet (PTN) är inte bara GNSS-oberoende utan möjliggör även distribution av PTP till basstationerna över sådana hyrda förbindelser utan att kräva hårdvarustöd i varje nätverksnod.”

Annual report 2024A · The company itself

“När 5G nu går in i nästa fas och levererar kritiska tjänster ökar behovet av den här typen av tidssynkronisering och Net Insight är väl positionerade för att möta dessa behov både i dagens 5G- och framtidens 6G-nät.”

Annual report 2024A · The company itself

“En stor del av Net Insights konkurrenskraft ligger i bolagets teknologi som ger fördelar inom bland annat realtidshantering av bild, säker dataöverföring och GPSoberoende tidssynkronisering.”

Annual report 2024A · The company itself

“Direkt och indirekt försäljning en viktig del för Zyntais expansion Många av årets Zyntai-affärer har genomförts via serviceintegratörer/affärspartners. På så vis nås effektivt nya marknader och kunder. Affärerna med TST i Kina, ACES i Saudiarabien, Tekmark i Malaysia och Filippinerna, Vietcoms i Vietnam, Sekom i Europa och GDS Technologies i Sydafrika är viktiga för att säkerställa framtida skalbarhet.”

Annual report 2024A · The company itself

“Det här är Net Insight Net Insight är en ledande aktör inom lösningar för överföring av livemedia samt inom tidssynkronisering i 5G-nät och andra kritiska nätverk.”

Annual report 2024A · The company itself

“Vår nätverksbaserade tidssynkroniseringslösning ger en kostnadseffektiv och mer säker tidsynkronisering för 5G och andra kritiska nätverk.”

Annual report 2024A · The company itself

“Stort intresse för Zyntai bland ledande telekomopertörer Net Insights innovativa tidssynkroniseringslösning Zyntai lanserades kommersiellt under det första kvartalet 2024. Zyntai, som är optimerad för 5G och andra kritiska nätverk, är oberoende av GNSS/GPS samt kan hantera tidssynkronisering över befintliga nätverk.”

Annual report 2024A · The company itself

“Innovation, kompetens och förtroende Introduktion Net Insight ökar intäkterna och skalbarheten genom att dra nytta av sin växande globala kundbas samt en ökande andel mjukvaruintäkter från internettransport med molnfunktioner samt tidssynkronisering.”

Annual report 2024A · The company itself

“Intresset för produkten är stort och intäkterna från tidssynkronisering stod under helåret för 7,2 procent av koncernens omsättning.”

Annual report 2024A · The company itself

“Baserat på bolagets unika teknologi inom tidssynkronisering har Net Insight även etablerat ett nytt produktområde för tidssynkronisering inom 5G-nät och andra samhällskritiska nät. Net Insights lösning är GPS-oberoende och ger högsta noggrannhet och prestanda, samtidigt som den minskar kostnader för kunderna.”

Annual report 2024A · The company itself

“Exempelvis med Net Insights största kund Tata Communications.”

Annual report 2024A · The company itself

“Ytterligare ett exempel på en kund som tillkommit under året är LG U+, en ledande mobiloperatör i Sydkorea. LG U+ har valt Nimbra-plattformen för att bygga ett nationellt IPmedienätverk.”

Annual report 2024A · The company itself

“Orderavtal har också tecknats med ett amerikanskt mediabolag med ett av de största TVnätverken i USA samt ett större telekombolag i Mellanöstern.”

Annual report 2024A · The company itself

“Därtill har bolaget erhållit en betydande Nimbra Edge-order för mediaöverföring i internet- och molnbaserade nätverk (ickemanagerade nätverk) från ett luxemburgskt satellitkommunikationsbolag.”

Annual report 2024A · The company itself

“Det ger en kostnadseffektiv och säker tidsynkronisering, vilket särskilt attraherar nätoperatörer med stor andel hyrd kapacitet i sina 5G-nät.”

Annual report 2024A · The company itself

“I början av året fick Net Insight en första order från Tre Danmark som ett led i Tres satsning på 5G-expansion.”

Annual report 2024A · The company itself

“Under årets fjärde kvartal fick Net Insight en Zyntai-order i Sydafrika av Synch Industries, via affärspartner GDS Technologies. Synch Industries bygger ett GNSS/GPSoberoende nationellt tidsdistributionsnät för att kunna erbjuda Time-as-a-Service (TaaS) till olika industrier, såsom bank och finans, media, kraftnät och försvar.”

Annual report 2024A · The company itself

“I slutet av året erhöll Net Insight en strategisk order från en ledande europeisk telekomoperatör.”

Annual report 2024A · The company itself

“Inom media säljer bolaget därutöver också till medieoperatörer, som i sin tur säljer vidare till bland annat TV-bolag och rättighetsinnehavare.”

Annual report 2024A · The company itself

“I första hand fokuseras försäljningen på telekomoperatörer som använder produkten för tidssynkronisering av 5G-nät, men bolaget ser även behov och intresse för tidssynkroniseringslösning från kunder med andra samhällskritiska nät och för att kunna sälja tid som en tjänst (TaaS).”

Annual report 2024A · The company itself

“Digitaliseringen av samhället ställer krav på ökad kapacitet i näten för både fast och mobil trafik.”

Annual report 2024A · The company itself

“I stora delar av Europa pågår därför betydande investeringar för att byta ut koaxial- och kopparnät till fiber.”

Annual report 2024A · The company itself

“Högsta antalet hushåll i Europa som fortfarande saknar fiber finns i Tyskland och Storbritannien, 24,4 respektive 12,9 miljoner hushåll enligt FTTH Council Europe.”

Annual report 2024A · The company itself

“I Sverige och Norge har utbyggnaden av 5G-näten påbörjats och inom en tioårsperiod kommer 6G-näten att rullas ut.”

Annual report 2024A · The company itself

“Division Telekom hade ett mer utmanande år 2024. Tillväxten var god i Norge men utvecklingen på de andra marknaderna påverkade lönsamheten negativt.”

Annual report 2024A · The company itself

“I Sverige är affären fokuserad på att uppgradera mobilnäten till 5G till kunder som Telia och Telenor.”

Annual report 2024A · The company itself

“I Norge pågår också uppgraderingen till 5G samtidigt som utbyggnaden av fibernäten fortsätter.”

Annual report 2024A · The company itself

“Vi erbjuder projektering och anläggningsarbeten inom områden som är kritiska för samhället som el, telekom, vatten och avlopp.”

Annual report 2024A · The company itself

“Med 25 års erfarenhet av utveckling och underhåll av kritisk infrastruktur är vi en ledande aktör i norra Europa inom infraservices, kraft och telekom. Vi finns med i hela värdekedjan från design och produktion till underhåll av kundernas anläggningar.”

Annual report 2024A · The company itself

“Årlig tillväxt 2010 - 2024 18,7% Orderstock, miljarder SEK 4,0 Antal medarbetare SVERIGE NORGE STORBRITANNIEN TYSKLAND 54% 38% 7% Projekterar, bygger och underhåller fiber- och mobilnät i Norge, Sverige, Storbritannien och Tyskland.”

Annual report 2024A · The company itself

“Vi projekterar, installerar och underhåller också kraft- och elförsörjning till järnvägar och tunnelbana.”

Annual report 2024A · The company itself

“Erbjudandet omfattar nyckelfärdiga lösningar och täcker hela värdekedjan för fiber- och mobilnät, från planering och tillståndshantering till utbyggnad, installation, driftssättning och integration.”

Annual report 2024A · The company itself

“Inom Telekom är kunderna huvudsakligen mobiloch telekomoperatörer. Vi arbetar nära dessa för att säkerställa högkvalitativa lösningar både för mobila och fasta nät.”

Annual report 2024A · The company itself

“Fiberkunderna är främst nätägare, operatörer och bostadsrättsföreningar.”

Annual report 2024A · The company itself

“Bland kunderna finns flera av de största telekomoperatörerna och bredbandsleverantörerna i norra Europa.”

Annual report 2024A · The company itself

“Mobilnätskunderna är teleoperatörer, ägare av telemaster och systemleverantörer.”

Annual report 2024A · The company itself

“Under året tecknade vi bland annat ett nytt, större, treårigt ramavtal med Telenor i Norge som omfattar drift, underhåll och utbyggnad av fibernät.”

Annual report 2024A · The company itself

“Building on foundational innovations developed for 3G and 4G, the mobile industry continues to transition to 5G technology as 5G network deployments and device launches continue, particularly in emerging regions. 5G is designed to support multi-gigabit data rates, low latency and greater capacity than previous generations of mobile technology to enable enhanced mobile broadband experiences, including ultra-high definition (4K) video streaming and sharing, near-instantaneous access to cloud services, immersive cloud gaming and XR experiences, including augmented reality, virtual reality and mixed reality. 5G’s performance and capacity improvements are also enabling operators to offer new consumer 5 and enterprise services.”

Annual report 2025A · The company itself

“It introduces key improvements for continued 5G commercialization, supports a range of services beyond mobile broadband, and lays the groundwork for 6G (sixth generation). 5G Advanced is a transformative step, integrating AI-enabled device performance and network performance advancements, satellite communications and lower cost devices to drive innovation across the 5G ecosystem.”

Annual report 2025A · The company itself

“Industry demand for IoT devices is expected to remain strong across consumer, edge networking and industrial applications, in part due to expanded use cases enabled by 5G and AI technologies, including generative AI.”

Annual report 2025A · The company itself

“Advances in wireless technology are helping to drive demand for edge networking products (including mobile, fiber broadband and wireless access points). Fiber and 5G technologies continue to grow, delivering not only high speed broadband and infrastructure but also providing the flexibility to support fixed, mobile and fixed wireless users with the delivery of high-performance, low-latency connections.”

Annual report 2025A · The company itself

“Additionally, advancements in Wi-Fi are driving consumer and enterprise demand for the latest Wi-Fi 6, 6E and 7 access point technologies that leverage increased network speed, capacity and efficiency to support the increased number of connected devices at home and at work.”

Annual report 2025A · The company itself

“RISKS RELATED TO INDUSTRY DYNAMICS AND COMPETITION •Our revenues depend on our customers’ and licensees’ sales of products and services based on cellular and other communications technologies, including 5G, and customer demand for our products based on these technologies. •Our industry is subject to intense competition in an environment of rapid technological change.”

Annual report 2025A · The company itself

“A substantial portion of our patents and patent applications relate to digital wireless communications technologies, including patents that are essential or may be important to the commercial implementation of LTE and/or OFDMA-based 5G products. Our patent portfolio is the most widely and extensively licensed in the industry.”

Annual report 2025A · The company itself

“We have licensed or otherwise provided rights to use our patents to hundreds of companies on industry-accepted terms. Our strategy to make our patented technologies broadly available has been a catalyst for industry growth, helping to enable a wide range of companies offering a broad array of wireless products and features while increasing the capabilities of and/or driving down average and low-end selling prices for handsets and other wireless devices.”

Annual report 2025A · The company itself

“QSI makes strategic investments primarily through our Qualcomm Ventures arm that are focused on expanding or opening new opportunities for our technologies as well as supporting the design and introduction of new products and services (or enhancing existing products or services). Many of these strategic investments are in early-stage companies in a variety of industries and applications, including but not limited to 5G, AI, automotive, consumer, enterprise, cloud, IoT and XR.”

Annual report 2025A · The company itself

“We own a very strong portfolio of issued and pending patents related to cellular and other technologies. It is critical that we continue to evolve our patent portfolio, particularly in 5G and next-generation technologies. If we do not maintain a strong portfolio that is applicable to current and future standards, products and services, our future licensing revenues could be negatively impacted.”

Annual report 2025A · The company itself

“Increasingly, we also depend on operators of wireless networks, our customers and licensees and other third parties to incorporate these technologies into new device types and into industries and applications beyond mobile handsets, such as automotive and IoT, among others.”

Annual report 2025A · The company itself

“Our growth also depends significantly on our ability to develop and patent 5G and next-generation wireless technologies, and to develop and commercialize products using these technologies.”

Annual report 2025A · The company itself

“QTL grants licenses or otherwise provides rights to use portions of our intellectual property portfolio, which, among other rights, includes certain patent rights essential to and/or useful in the manufacture, sale and/or use of certain wireless products, including, without limitation, products implementing LTE and/or OFDMA-based 5G standards and their derivatives. We grant licenses or otherwise provide rights to use our cellular standard-essential patents (including 3G, 4G and 5G) for cellular devices on a worldwide basis.”

Annual report 2025A · The company itself

“The vast majority of QTL revenues have been generated through our licensees’ sales of OFDMA-based products (including 4G-enabled and 5G-enabled multimode devices), such as smartphones and other devices. We have invested in both 10 the acquisition and development of, and continue to invest in the development of, OFDMA technology and intellectual property and have generated the industry leading patent portfolio applicable to LTE, LTE Advanced, LTE Advanced Pro, 5G NR and 5G Advanced.”

Annual report 2025A · The company itself

“RISKS RELATED TO INDUSTRY DYNAMICS AND COMPETITION Our revenues depend on our customers’ and licensees’ sales of products and services based on cellular and other communications technologies, including 5G, and customer demand for our products based on these technologies. We develop, patent and commercialize technology and products based on cellular and other communications technologies, which are primarily wireless.”

Annual report 2025A · The company itself

“We depend on our customers and licensees to develop devices and services based on these technologies to drive consumer demand for such devices, and to establish the selling prices for such devices (which impact the amount of royalties we receive for certain devices).”

Annual report 2025A · The company itself

“Our ability to grow is dependent on the ability and willingness of our wireless service provider customers to invest in the roll-out of new spectrum or new technologies. Much of the future capital investment by domestic wireless service providers is expected to result from the roll-out of 5G.”

Annual report 2025A · The company itself

“However, the roll-out of prior spectrum, including 3G and 4G was often delayed and the roll-out of this spectrum may encounter similar interruptions. For example, in January 2022, several major U.S. wireless carriers had to temporarily delay deployment of new wireless facilities that were meant to facilitate the evolution of their wireless networks to 5G technology in response to concerns of the aviation industry that those 5G facilities could interfere with equipment used for aviation and could impede aviation safety.”

Annual report 2025A · The company itself

“The FCC continues to auction new bands of spectrum, including Auction 108, Auction 110, and Auction 113. Our customers have been and are expected to be the primary winners of these auctions and subsequently deploy this spectrum on our portfolio which would provide us with a revenue growth opportunity.”

Annual report 2025A · The company itself

“We are subject to federal, state, and local regulation of our business, both in the U.S. and internationally. In the U.S., both the FAA and the FCC regulate the construction, modification, and maintenance of towers and structures that support antennas used for wireless communications and radio and television broadcasts. In addition, the FCC separately licenses or otherwise regulates wireless communications equipment, wireless radio stations, and radio and television broadcast stations operating from such towers.”

Annual report 2025A · The company itself

“However, public perception of possible health risks associated with cellular and other wireless communications technologies (such as 5G) could slow the growth of wireless companies and deployment of new technologies, which could in turn slow our growth. In particular, negative public perception of, and regulations regarding, health risks could cause a decrease in the demand for wireless communications services.”

Annual report 2025A · The company itself

“We derive revenue through numerous site leasing and site development contracts. In the United States and our international markets, each site leasing contract relates to the lease of space at an individual tower and is generally for an initial term of five years to fifteen years with multiple renewal periods at the option of the tenant.”

Annual report 2025A · The company itself

“Most of our towers have significant capacity available for additional antennas. We measure the available capacity of our existing facilities to support additional tenants and generate additional lease revenue by assessing several factors, including tower height, tower type, wind loading, environmental conditions, existing equipment on the tower and zoning and permitting regulations in effect in the jurisdiction where the tower is located. As of December 31, 2025, we had an average of 1.8 tenants per site.”

Annual report 2025A · The company itself

“Recently, the U.S. wireless service provider market has reduced to three nationwide wireless service providers, AT&T Wireless, T-Mobile, and Verizon Wireless, and our dependence on these three wireless service providers for our financial and operational growth has been exacerbated.”

Annual report 2025A · The company itself

“Företagets differentierade högprecisionslasrar och RF-riktantennsteknologi är inriktade på att möta två långsiktiga sekulära trender: accelerationen av AI och den ökande användningen av millimetervåg (mmWave).”

Annual report 2024A · The company itself

“Mobilnät ser i allt högre grad satellit bredband som ett strategiskt komplement för att erbjuda bästa möjliga nätverksteckning över hela planeten.”

Annual report 2024A · The company itself

“Sivers Semiconductors utvecklar, tillverkar och säljer chip, komponenter, moduler och delsystem baserade på avancerad halvledarteknik för 5G millimetervågnät, samt optiska halvledare till fibernät, trådlösa optiska nät och sensorer.”

Annual report 2024A · The company itself

“Väsentliga händelser i verksamheten Teknik • På Mobile World Congress i Barcelona, 26-29 februari, lanserade Sivers Semiconductors affärsenhet Wireless sin nya kommersiella Radiofrekvens (RF)-modul BFM02803. Modulen är optimerad för högpresterande, högeffektiva applikationer för fasta trådlösa accessnät (FWA), möjliggör differentiering och uppfyller kraven för storskalig produktion av FWA-produkter. BFM02803 är designad för att integreras med ledande basbandmodem som täcker 5G FR2 millimetervågsbanden N257, N258 och N261 (från 24,25 GHz till 29,5 GHz). • Affärsenheten Photonics, i samarbete med ekosystempartners, demonstrerade sin avancerade laserchip- och arrayteknik vid konferensen för optisk fiberkommunikation (OFC) i San Diego den 24-28 mars.”

Annual report 2024A · The company itself

“• I januari beviljades Sivers Semiconductors affärsenhet Wireless 6,8 MSEK (0,6 MUSD) från European Space Agency (ESA). Bidraget kommer att täcka finansiering för design av satellitkommunikationschips under 1,5 år från den 30 januari 2024. • I februari utökade affärsenheten Wireless sitt chipavtal med Thorium Space.”

Annual report 2024A · The company itself

“• Sivers Semiconductors affärsenhet Wireless utökade i mars sitt samarbete med en ledande europeisk SATCOM-kund genom ett nytt produktutvecklingsavtal värt 49 MSEK (4,7 MUSD). Avtalet gäller utvecklingen av nästa generations beamformer-chipset, som ska vara klara för produktion 2024–2025 och övergå i volymtillverkning under fjärde kvartalet 2025.”

Annual report 2024A · The company itself

“Sivers hjälper kunder inom viktiga marknader så som AI-datacenter, satellitkommunikation, försvar och telekominfrastruktur att effektivt lösa viktiga affärsutmaningar och samtidigt minska sin miljöpå - verkan.”

Annual report 2024A · The company itself

“Vi vann också två CHIPS Act ”lab to fab”-utmärkelser med potential för 295 MSEK (30 MUSD) under tre år för att utveckla riktantenns-IC:er och antennarrayer för 5G/6G och Electronic Warfare- applikationer, i samarbete med topp-tier företag som BAE Systems, Raytheon och Ericsson.”

Annual report 2024A · The company itself

“Toimimme toimialalla, jota muovaavat tekoälyn kehityksen, 5G:n kaupallistamisen sekä älykkäiden ja modulaaristen digitaalisten palvelukokemusten kysynnän yhdistyminen. Painopisteemme säilyy telekommunikaatiotason luotettavuudessa, yritystason tietoturvassa, vastuullisessa tekoälyn hallinnassa sekä saumattomassa integraatiossa.”

Annual report 2025A · The company itself

“Telepalvelumarkkina kehittyneillä alueilla pysyi vuonna 2025 reaalisesti tarkasteltuna vakaana tai lievästi supistuvana, kun operaattorit kohtasivat hinnoittelupainetta, valuuttakurssien vaihtelua sekä investointien maltillistumista.”

Annual report 2025A · The company itself

“Vaikka perinteisten yhteyspalveluiden liikevaihto on useilla markkinoilla edelleen paineen alla, operaattorit suuntaavat investointejaan 5G:n kaupallistamiseen, digitaalisten palveluiden laajentamiseen ja operatiivisen tehokkuuden parantamiseen.”

Annual report 2025A · The company itself

“Toimialan kehitykseen vaikuttavat edelleen: • Paineet yhteyspalveluiden liikevaihdossa ja keskimääräisessä asiakastuotossa (ARPU) • Sääntelyyn liittyvät rajoitteet • Investointien varovaisuus makrotaloudellisessa epävarmuudessa • Legacy-järjestelmien modernisoinnin monimutkaisuus Nämä tekijät korostavat toimitusvarmuuden, kustannustehokkuuden ja teknologisen kilpailukyvyn merkitystä.”

Annual report 2025A · The company itself

“• 5G:n kaupallistaminen ja reaaliaikaiset veloitusratkaisut • Pilvipohjaisten ja hybridiratkaisujen yleistyminen • Tekoälyn hyödyntäminen automaatiossa ja asiakaselinkaaren hallinnassa • Kumppanivetoiset transformaatio-ohjelmat • Toistuvien hallinnoitujen palveluiden kasvava kysyntä Tecnotreen strategiset painopisteet vuonna 2025 olivat linjassa näiden kehityssuuntien kanssa.”

Annual report 2025A · The company itself

“Teleoperaattorit toimivat edelleen pääomakurinalaisessa toimintaympäristössä, jossa liikevaihdon kasvu kytkeytyy yhä vahvemmin palveluvalikoiman monipuolistamiseen, operatiivisen tehokkuuden parantamiseen sekä 5G-investointien kaupallistamiseen.”

Annual report 2025A · The company itself

“5G-standardien kehittyessä 3GPP:n julkaisusyklien mukaisesti operaattorit tarvitsevat yhä useammin yhtenäisiä kaupallistamisratkaisuja, jotka tukevat kuluttaja- ja yrityspalveluita yhteisessä veloitus- ja elinkaarenhallintaympäristössä. Tämä kattaa myös edistyneet datan hyödyntämisen käyttötapaukset, suurten kielimallien (LLM) hyödyntämiseen perustuvat sovellukset sekä generatiiviseen tekoälyyn (GenAI) perustuvat palvelut turvallisissa, telekommunikaatiotason arkkitehtuureissa.”

Annual report 2025A · The company itself

“Yhtiö jatkaa MVNX- ja Cloud BSS -liiketoimintansa laajentamista sekä vahvistaa monivuokralaiskyvykkyyksiään ja reaaliaikaisia 5G-laskutusratkaisujaan.”

Annual report 2025A · The company itself

“Tavoitteenamme on ylittää markkinoiden kasvuvauhti kolmella keskeisellä alueella. Ensinnäkin pilvi- ja moniasiakasratkaisuissa (multi-tenancy), joissa modulaarinen BSS-arkkitehtuurimme on suunniteltu erityisesti MVNO (virtuaalioperaattori)- ja MVNE (MVNO-alustapalveluntarjoaja) -segmenteille, mahdollistaen uusien liiketoimintojen nopean käynnistämisen, skaalaamisen ja kaupallistamisen.”

Annual report 2025A · The company itself

“Kun toimiala etenee kohti 5G-Advanced- ja tulevaisuudessa 6G-verkkoja, olemme hyvässä asemassa toimimaan tekoälynatiivina BSS-alustana operaattoreille, jotka rakentavat huomisen älykkäitä verkkoja.”

Annual report 2025A · The company itself

“Yli 40 vuoden syvällisen toimialaosaamisen, teknisen asiantuntemuksen ja globaalisti todistetun toimituskyvykkyyden ansiosta Tecnotreen Digital BSS -ratkaisukokonaisuus tukee liiketoimintaprosesseja päästä päähän tilauksesta kassavirtaan.”

Annual report 2025A · The company itself

“Liikevaihto kasvoi vuodentakaiseen verrattuna Q4-liikevaihto oli 19,5 miljoonaa euroa (17,6), kasvua 11,1 % raportoidusti. Liikevaihtorakenne heijasti yhä enemmän hallinnoituja palveluita ja laajojen transformaatiohankkeiden toimitusvaiheita.”

Annual report 2025A · The company itself

“Tällä hetkellä Tecnotree tukee yli 40 liiketoimintaaluetta teleoperaattoreille maailmanlaajuisesti.”

Annual report 2025A · The company itself

“Tecnotree mahdollistaa teleoperaattoreiden digitaalisen transformaation tekoälylähtöisen ja pilvinatiivin Digital Business Support System (BSS) -alustan avulla.”

Annual report 2025A · The company itself

“Vuonna 2025 keskityimme tekoälyn integroimiseen asiakkuuden elinkaaren hallintaan, kaupallistamiseen ja palveluorkestrointiin sekä tukemaan skaalautuvia 5G-pohjaisia tulomalleja ja pilviympäristöihin perustuvia käyttöönottoja.”

Annual report 2025A · The company itself

“Tecnotreen ohjelmistoalusta muodostaa teleoperaattoreille operatiivisen selkärangan, jonka avulla ne voivat hallita asiakas- ja kumppanipalveluiden orkestrointia sekä laskutus-, veloitus- ja maksuprosesseja.”

Annual report 2025A · The company itself

“Ohjelmistolisenssit ja tilauspohjaiset ratkaisut Teleoperaattorit ja viestintäpalveluntarjoajat (CSP:t) pääsevät Digital BSS -alustamme joko jatkuvina lisensseinä tai toistuvina tilauspohjaisina malleina, jotka ovat yhä useammin linjassa pilvi- ja 5G-verkkoympäristöjen käyttöönottojen kanssa.”

Annual report 2025A · The company itself

“MVNE-mallien sekä tukkuliiketoimintarakenteiden kautta jatkaa kasvuaan. Tecnotreen monivuokralaisarkkitehtuuri mahdollistaa operaattoreille vähittäis- ja tukkuliiketoiminnan, useiden brändien sekä erilaisten palvelumallien hallinnan keskitetyn alustan kautta, tukien nopeampaa markkinoilletuloa ja operatiivista tehokkuutta ilman infrastruktuurin päällekkäisyyttä.”

Annual report 2025A · The company itself

“Ratkaisut mahdollistavat viestintäpalveluntarjoajille liiketoiminnan laajentamisen ja siirtymisen digipalveluntarjoajamalliin, mikä tukee tilaajakannan kasvua ja arvon luomista.”

Annual report 2025A · The company itself

“Yhtiön kehittyneet CPaaS-ominaisuudet tukevat Rich Communication Services (RCS) -palveluja, A2P-viestintää sekä monikanavaisia digitaalisia asiakaskokemuksia, ja ne auttavat operaattoreita vahvistamaan asiakasvuorovaikutusta sekä kasvattamaan tuottoja.”

Annual report 2025A · The company itself

“Tecnotree on globaali IT-ratkaisujen toimittaja, joka tarjoaa tietoliikennepalvelujen tarjoajille ratkaisuja palveluiden, tuotteiden, asiakkuuksien ja liikevaihdon hallintaan.”

Annual report 2025A · The company itself

“Aasian ja Tyynenmeren alueella, Euroopassa sekä Amerikoissa. Yhtiö palvelee teleoperaattoreita modulaarisilla, telekommunikaatiotason alustoilla, jotka tukevat palveluiden kaupallistamista, automaatiota ja digitaalisen asiakaskokemuksen kehittämistä.”

Annual report 2025A · The company itself

“TOIMINTAYMPÄRISTÖ VUONNA 2025 Laajakaistateknologian kysyntä kääntyi taas kasvuun vuonna 2025. Teknologian kysynnän kasvun taustalla on verkko-operaattoreiden keskinäinen kilpailu tarjota nopeita ja luotettavia laajakaistayhteyksiä kotitalouksille ja yrityksille eri teknologioita käyttäen, siitäkin huolimatta, että operaattoreiden oma liikevaihto on ollut laskupaineessa.”

Annual report 2025A · The company itself

“Teknologiset murrosvaiheet, kuten tietoliikenneoperaattoreiden siirtyminen uuden sukupolven teknologioihin, voivat muuttaa merkittävästi nykyisten toimittajien kilpailuasemia ja houkutella markkinoille uusia kilpailijoita. Kiristyvä kilpailu voi johtaa myös kiristyvään hintakilpailuun mikä voi vaikuttaa liiketoiminnan kannattavuuteen.”

Annual report 2025A · The company itself

“Tuotekehitysprojektit painottuivat Broadband Networks -segmentissä Pohjois-Amerikan markkinoille suunnattuihin älyverkon telemetria- ja etähallintaratkaisuihin ja -ohjelmistoihin, sekä DOCSIS 4.0 -standardin mukaiseen älyvahvistinteknologiaan.”

Annual report 2025A · The company itself

“YLEISKATSAUS Teleste on kansainvälinen teknologiakonserni, jonka tuotteet ja ratkaisut auttavat rakentamaan verkottunutta ja turvallista digitaalista yhteiskuntaa. Yhtiön ratkaisut mahdollistavat laajakaista- ja televisiopalvelut, takaavat turvallisuuden julkisilla paikoilla ja opastavat sujuvaan joukkoliikenteen käyttöön.”

Annual report 2025A · The company itself

“Uuden sukupolven DOCSIS 4.0 -standardin mukaiset älyverkkoteknologiat mahdollistavat erittäin kilpailukykyisten internet palveluiden tarjoamisen yhdistäen kuitu- ja kaapeliteknologioita samassa verkkoarkkitehtuurissa.”

Annual report 2025A · The company itself

“DOCSIS 4.0 standardin mukaisten 1.8 GHz:n älyverkkojen toimitukset Pohjois-Amerikkaan kasvoivat merkittävästi vertailukauteen verrattuna.”

Annual report 2025A · The company itself

“Konsernin liikevaihto oli 138,6 (132,5) milj. euroa, kasvaen 4,6 % molempien segmentin kasvaessa. Broadband Networks –segmentin liikevaihto oli 82,8 (78,2) milj. euroa, ja se kasvoi 4,6 milj. euroa (5,8 %) vertailukauteen verrattuna.”

Annual report 2025A · The company itself

“Yhtiön päätuotteita ovat laajakaistaverkkoratkaisut sekä julkisen liikenteen ja turvallisuuden ratkaisut, kuten matkustajainformaatiojärjestelmät ja videovalvontaratkaisut sekä näihin liittyvät asennus- huolto- ja ylläpitopalvelut.”

Annual report 2025A · The company itself

“Tärkeimmät tuotteet ja materiaalit, jotka tulevat ulos yrityksen tuotantoprosessista Keskeisiä tuotteita materiaalien käytön näkökulmasta NET-liiketoiminnassa ovat tietoliikenneverkon tuotteet, kuten laajakaistavahvistimet ja optiset muuntimet.”

Annual report 2025A · The company itself

“Broadband Networks -toimintasegmentti keskittyy kiinteiden tietoliikenneverkkojen tilaajaverkkotuotteisiin ja sen merkittävin asiakaskunta koostuu tietoliikenneoperaattoreista.”

Annual report 2025A · The company itself

“drivet av mobil tjänsteintäktstillväxt för de flesta segmenten, samt från tillväxt för de fasta tjänsteintäkterna främst drivet av Sverige och till viss del även Tv och Media samt verksamheterna i Baltikum.”

Annual report 2024A · The company itself

“Som ett resultat av detta fortsatte Telia att ligga långt före konkurrenterna avseende 5G, med en befolkningstäckning som nådde 95% i slutet av året, upp från 82% för ett år sedan.”

Annual report 2024A · The company itself

“Telia fortsatte under året att rulla ut 5G i hög takt, vilket resulterade i en befolkningstäckning på 92% vid årsskiftet jämfört med 77% för ett år sedan. På grund av detta kunde Telia, som första operatör i landet, lansera en mobilportfölj baserad enbart på 5G för sina konsumentkunder.”

Annual report 2024A · The company itself

“De främsta CAPEX-komponenterna var relaterade till investeringar i de mobila och fasta näten, IT, utbyggnaden av fiber och 5G, samt kundspecifika installationer.”

Annual report 2024A · The company itself

“5G Den omfattande utbyggnaden av 5G-nätverk banar väg för att skapa nya tjänster med hjälp av internationellt standardiserad fristående 5G-teknik (SA). 5G SA-tekniken möjliggör 5G-uppkoppling där vissa servicenivåer uppfyller olika kvalitetskrav på tjänster, mer granulär nätverksbaserad positionering (inklusive inomhuspositionering) och exponering av globalt standardiserade eller branschspecifika API-baserade nätverkstjänster.”

Annual report 2024A · The company itself

“Branschspecifika lösningar, som kombinerar 5G SA-tjänster med till exempel IoT/AI och molntjänster, är också ett område att utforska. första pilotkunden i Telias 5G-program Sirius och kommer att använda ett programmerbart 5G-nätverk för trafikräkningsändamål. • Genom Telia Norges engagemang med kritiska kommunikationskunder, inklusive försvarsmakten, utvecklades och testades en ny lösning för mobila basstationer som stöder 4G och 5G. Med satellitstöd kan mo bil täckning skapas och utökas var som helst, från en liten mobil enhet.”

Annual report 2024A · The company itself

“Medan 5G-utvecklingen inledningsvis drevs av och fokuserade på behoven inom gruvoch tillverkningsindustrin ser Telia nu också transformativa tillvägagångssätt och behov inom branscher som transport, logistik, energi, hälso- och sjukvård samt jordbruk.”

Annual report 2024A · The company itself

“Dessa utgick från Telias lanserade innovationsprogram, som NorthStar-samarbetet med Ericsson i Sverige och Sirius-samarbetet med Nokia i Finland, som hjälper ledande industriföretag och universitet att utforska hur 5G-teknik kan användas. Dessa initiativ innefattar: • Telia och RISE (Research Institutes of Sweden) ska etablera 5G- och Edge-kapacitet på fyra strategiska platser i Sverige för att möjliggöra utveckling av smarta samhällen.”

Annual report 2024A · The company itself

“1,4%, drivet av att intäkterna från mobila och fasta tjänster ökade med 1,2% respektive 1,4%.”

Annual report 2024A · The company itself

“Telia verkar på sex geografiska marknader och har ett brett utbud av produkter och tjänster inom telekommunikation, IT och media.”

Annual report 2024A · The company itself

“Any ITU or local reallocation of radio frequency bands, including frequency band segmentation and sharing of spectrum, or other modifications of the permitted uses of relevant frequency bands, may materially and adversely affect the utility and reliability of our products and have significant adverse impacts on our customers, both of which could reduce demand for our products.”

Annual report 2026A · The company itself

“In addition, transmissions and emissions from other services and equipment operating in adjacent frequency bands or in-band may impair the utility and reliability of our products. Any regulatory changes in spectrum allocation or in allowable operating conditions could have a material adverse effect on our business, financial condition, and results of operations.”

Annual report 2026A · The company itself

“We are dependent on the availability and unimpaired use of allocated bands within the radio frequency spectrum; our products may be subject to harmful interference from new or modified spectrum uses Our GNSS technology is dependent on the use of satellite signals and on terrestrial communication bands.”

Annual report 2026A · The company itself

“If we are not able to take advantage of developments in technology and address changing consumer demand on a timely basis, we may experience a decline in the demand for our services, be unable to implement our business strategy and experience reduced profits. Our industries are rapidly changing as new technologies are developed that offer consumers an array of choices for their communications needs and allow new entrants into the markets we serve. In order to grow and remain competitive, we will need to adapt to future changes in technology, enhance our existing offerings and introduce new offerings to address our customers’ changing demands and differentiate our services and products from our competitors. If we are unable to meet future challenges from competing technologies on a timely basis or at an acceptable cost, we could lose customers to our competitors.”

Annual report 2025A · The company itself

“We are licensed by the Federal Communications Commission (FCC) to provide these wireless services on the following low and mid-band spectrum in areas that collectively cover nearly all of the population of the U.S.: (i) the 700 MHz Upper C block, (ii) Cellular spectrum (850 MHz), (iii) Personal Communication Services (PCS) spectrum (1900 MHz), (iv) AWS 1 and AWS 3 bands (1700 MHz uplink and 2100 MHz downlink), and (v) the 3.7 GHz band (C-Band). We also hold spectrum licenses in the 28, Upper 37 and 39 GHz bands, known as millimeter wave spectrum, and utilize both Priority Access Licenses (PALs) and General Authorized Access (GAA) in the 3.5 GHz band (Citizens Broadband Radio Service).”

Annual report 2025A · The company itself

“Capital Expenditures Our 2026 capital program includes capital to fund advanced networks and services, including expanding and adding capacity and density to our core networks, completing the deployment of C-Band spectrum, and advancing our network architecture, while reducing the cost to deliver services to our customers, and pursuing other opportunities to drive operating efficiencies.”

Annual report 2025A · The company itself

“Verizon Consumer Group Our Consumer segment provides consumer-focused wireless and wireline communications services and products. Our wireless services are provided across one of the most extensive wireless networks in the United States (U.S.) under the Verizon family of brands and through wholesale and other arrangements. As of the date this report is being filed, our wireline services are provided in 31 U.S. states and Washington D.C. over our 100% fiber-optic network through our fiber product portfolio, as well as over a traditional copper-based network. We also provide fixed wireless access (FWA) broadband through our fifth-generation (5G) or fourth-generation (4G) Long-Term Evolution (LTE) networks as an alternative to traditional landline internet access.”

Annual report 2025A · The company itself

“As of December 31, 2025, Consumer had approximately 116 million wireless retail connections (including FWA), of which 83% were postpaid connections. In addition, at December 31, 2025, Consumer had approximately 11 million total broadband connections (which includes Fios internet, FWA and Digital Subscriber Line (DSL) connections), and approximately 2 million Fios video connections.”

Annual report 2025A · The company itself

“Verizon Business Group Our Business segment provides wireless and wireline communications services and products, including mobility communication services, FWA and wireline broadband, Internet of Things (IoT) connectivity solutions, advanced communication services, corporate networking solutions, local and long distance voice services, and security and managed network services.”

Annual report 2025A · The company itself

“Wholesale Wholesale offers wireline communications services including data, voice, local dial tone and broadband services primarily to local, long distance, and wireless carriers that use our facilities to provide services to their customers. In 2025, Wholesale revenues were $2.0 billion, representing approximately 7% of Business’s total revenues.”

Annual report 2025A · The company itself

“Verizon operates an award winning national wireless network covering approximately 147 million wireless retail connections, and an extensive broadband network covering approximately 14 million broadband connections as of December 31, 2025.”

Annual report 2025A · The company itself

“We also own and operate one of the largest global fiber-optic networks in the world, providing connectivity to Business customers in more than 180 countries.”

Annual report 2025A · The company itself

“Broadband We provide residential and enterprise wireline broadband services over our 100% fiber-optic network through our Verizon fiber product portfolio and over a traditional copper-based network. While deployed initially as a consumer broadband network, our Fios infrastructure is also experiencing more widespread application in the Business segment, especially as businesses increasingly migrate to ethernet-based access services.”

Annual report 2025A · The company itself

“Service Revenue Service revenue increased during 2025 compared to 2024 primarily driven by an increase in Wireless service revenue. Wireless service revenue increased during 2025 compared to 2024 primarily due to: •an increase of $775 million in postpaid revenue primarily related to higher adoption of perks and premium MyPlan offerings, pricing actions, and a 26% increase in our FWA subscriber base, partially offset by the amortization of wireless equipment sales promotions; and •an increase of $673 million related to growth in non-retail service revenue.”

Annual report 2025A · The company itself

“The following table provides Fios revenue for our two reportable segments and includes intersegment activity: (dollars in millions) Years Ended December 31, 2025 2024 2023 Consumer $ 11,678 $ 11,647 $ 11,614 Business 1,244 1,252 1,235 Total Fios revenue $ 12,922 $ 12,899 $ 12,849 The following table provides Wireless service revenue for our two reportable segments and includes intersegment activity: (dollars in millions) Years Ended December 31, 2025 2024 2023 Consumer $ 69,382 $ 67,951 $ 65,820 Business 14,321 14,122 13,714 Total Wireless service revenue $ 83,703 $ 82,073 $ 79,534 Wireless service revenue reflects the reclassification of recurring device protection and insurance related plan revenues from Other revenue into Wireless service revenue in the first quarter of 2025.”

Annual report 2025A · The company itself

“Vi har under flera år hanterat en svag byggkonjunktur och sedan 2023 en långsammare takt i utrullningen av telekommarknaden.”

Annual report 2024A · The company itself

“Communication möter under de första tre kvartalen en svag marknad drivet av en inbromsning av 5G-utrullningen, men under det fjärde kvartalet förbättrades efterfrågan.”

Annual report 2024A · The company itself

“Under de tre första kvartalen 2024 möttes Communication av en svagare efterfrågan på MAFI:s produkter drivet av en inbromsning av 5G-utrullningen framför allt i USA.”

Annual report 2024A · The company itself

“Scanmast är en nordisk marknadsledande leverantör av infrastruktur, främst i form av master och torn för telekom, belysning och bevakning samt rörbryggor för industri- och transportsektorn.”

Annual report 2024A · The company itself

“MAFI är en marknadsledande leverantör av infästningslösningar för exempelvis telekom utrustning och solpaneler.”

Annual report 2024A · The company itself

“Inom telekom och för IT-konsulter var efterfrågan fortsatt svag.”

Annual report 2024A · The company itself

“However, rising costs for keywords and changes in search engine algorithms can impact our visibility and increase customer acquisition costs. If we cannot effectively grow traffic without increasing performance marketing spend, our business, results of operations, and financial condition could be adversely affected.”

Annual report 2025A · The company itself

“We believe the security products industry will continue to benefit from several global macroeconomic trends, including: •Expected growth in global electronic and electromechanical products and solutions as end-users adopt newer technologies in their facilities and homes; •Heightened awareness of security and privacy requirements; •Increased focus and adoption of mobile technology; and •The shift to digital, interconnected and increasingly interoperable environments that require a strong ecosystem of partners.”

Annual report 2025A · The company itself

“Moreover, with the growing adoption of connected hardware and software solutions, security products – including credentials – are increasingly linked electronically, integrated into access control software and popular consumer technology platforms and controlled with mobile applications, creating additional functionality and complexity.”

Annual report 2025A · The company itself

“Business ​ General ​ Amphenol Corporation is one of the world’s largest designers, manufacturers and marketers of electrical, electronic and fiber optic connectors and interconnect systems, antennas, sensors and sensor-based products and coaxial, high-speed, fiber optic and specialty cable.”

Annual report 2025A · The company itself

“●Communications Solutions – the Communications Solutions segment designs, manufactures and markets a broad range of connector and interconnect systems, including high speed, radio frequency, power, fiber optic and other interconnect products; coaxial, fiber optic and high-speed cable; antennas; and other products for use in the information technology and data communications, mobile devices, industrial, communications networks, automotive, commercial aerospace and defense end markets.”

Annual report 2025A · The company itself

“Additionally, the Company is making incremental investments to further develop and grow the aerospace & defense and telecommunications businesses and product offerings for the reporting unit.”

Annual report 2025A · The company itself

“We are one of the largest vehicle technology suppliers and our customers include the 25 largest automotive original equipment manufacturers (“OEMs”) in the world, as well as many of the leading aerospace and defense companies and global telecom operators.”

Annual report 2025A · The company itself

“5G and IoT advancements are enhancing connectivity and efficiency on an unprecedented scale.”

Annual report 2024A · The company itself

“Tietoliikenne-asiakassegmentin liikevaihto laski 27 % ja oli 2,4 (3,3) miljoonaa euroa.”

Annual report 2024A · The company itself

“In June 2024, we announced our six-year technology licensing partnership with TCL and the partnership with TCL continued to ramp up according to plan. In September 2025, RayNeo, a subsidiary of TCL, announced an audio partnership with Bang & Olufsen, extending the existing relationship to include AR glasses. The first glasses featuring Audio by Bang & Olufsen were launched in November 2025 and represented the latest product addition to the partnership.”

Annual report 2026A · The company itself

“TTI services a variety of industries including telecommunications, medical devices, computers and office equipment, military/aerospace, automotive and industrial electronics.”

Annual report unknown yearA · The company itself

“We earn commissions from mobile network carriers to sell service contracts on their platforms. Revenue is recognized upon sale of the contract and activation of the customer on the provider’s platform.”

Annual report 2026A · The company itself

“Market changes in the industrial sector Bittium's customer base includes, among others, defense and other authorities and companies that supply them with products, companies operating in the healthcare market, and companies operating in the telecommunications industry, so Bittium is exposed to market changes affecting these industrial sectors.”

Annual report 2025A · The company itself

“De största användarna av kuvert inom transaktionspost är företag inom till exempel telekom, bank, försäkring, finans, energi och vatten.”

Annual report 2024A · The company itself

“Omsetning per sektor Helse og sosial 1,4 % Industri 3,7 % Info og kommunikasjon 2,1 % Kraftforsyning 20,4 % Off. adm. og forsvar 17,8 % Olje, gass og fornybart 40,5 % Tjenesteyting 6,0 % Transport 4,3 % Varehandel 2,5 % Andre 1,2 % Intro | Våre nøkkeltall Intro | Våre nøkkeltall 5 5 Om Bouvet I dagens samfunn er digitalisering en avgjørende faktor for virksomheters leveranseevne og konkurransekraft.”

Annual report 2024A · The company itself

“BTS kunder är verksamma huvudsakligen inom nio branscher: IT, finansiella tjänster, tillverkande industri, professional services, läkemedel & bioteknik, dagligvarubranschen (så kallade Fast-Moving Consumer Goods – FMCG), energi, telekom samt handel & distribution.”

Annual report 2024A · The company itself

“Aneta Lighting har styrket sin lønnsomhet og posisjon i belysningsmarkedet Aneta Lighting vokser stadig i det norske elektro- og installatørmarkedet, tar markedsandeler og opplever kraftig salgsvekst i et synkende marked.”

Annual report 2024A · The company itself

“Core EDA Our Core EDA products and solutions are essential in the design and verification of semiconductor chips, including analog, digital, mixed-signal, memory, radio-frequency (“RF”), and silicon photonics, and are widely used across multiple industries including automotive, aerospace and defense, consumer electronics, data centers, industrial, medical, and mobile.”

Annual report 2025A · The company itself

“These IP solutions are embedded in silicon chips deployed across high-volume markets, including automotive, hyperscale, mobile computing, and consumer products such as mobile phones and AI chips.”

Annual report 2025A · The company itself

“This acquisition complements our existing protocol and interface IP, memory interface IP, and SerDes IP at advanced nodes, enhancing our ability to address SoC design challenges across markets such as automotive, data center, mobile, internet of things (“IoT”), and consumer electronics.”

Annual report 2025A · The company itself

“The customers for these services primarily consist of semiconductor and systems companies developing products for the consumer, hyperscale computing, 5G communications, mobile, automotive, aerospace and defense, industrial and life science vertical sectors.”

Annual report 2025A · The company itself

“The Company sells cloud computing solutions which include Software as a Service (“SaaS”) and Infrastructure as a Service (“IaaS”). SaaS solutions, commonly referred to as subscription licenses, utilize third-party partners to offer the Company’s customers access to software in the cloud that enhances office productivity, provides security, or assists in collaboration. IaaS solutions utilize third-party partners to enable customers to access data center functionality in a cloud-based solution, including storage, computing, and networking.”

Annual report 2025A · The company itself

“Congressional action in 2025 restored the FCC’s auction authority and could result in the licensing of additional spectrum in a manner beneficial to our competitors. New or additional spectrum obtained by other parties could lead to additional wireless competition to our existing and future services.”

Annual report 2025A · The company itself

“For example, we now hold CBRS PALs to support existing and future mobile services. These licenses are subject to revocation and expiration. Although we expect to be able to maintain and renew these licenses, the loss of one or more licenses could significantly impair our ability to offload mobile traffic and achieve cost reductions.”

Annual report 2025A · The company itself

“Other costs of revenue increased $353 million during the year ended December 31, 2025 compared to the corresponding period in 2024 primarily due to higher mobile service direct costs and mobile device sales due to an increase in mobile lines.”

Annual report 2025A · The company itself

“Our Spectrum Mobile service is offered to customers subscribing to our Internet service and uses the customers’ private WiFi, our Spectrum Mobile network (comprised of 49 million out-of-home WiFi access points across our footprint combined with out-of-home WiFi access points from other networks with which we partner) as well as leveraging the cellular network of Verizon Communications Inc. ("Verizon"). We leverage the Verizon cellular network to provide nationwide coverage including unlimited calls, text and data using Verizon’s fourth generation and fifth generation (“5G”) service including their latest 5G technology.”

Annual report 2025A · The company itself

“We own 210 Citizen Broadband Radio Service (“CBRS”) Priority Access Licenses (“PALs”). We intend to use these licenses along with General Authorized Access (“GAA”) CBRS spectrum to build our own 5G data-only mobile network on targeted 5G small cell sites leveraging our HFC network to provide power and data connectivity to the majority of the sites.”

Annual report 2025A · The company itself

“Spectrum Mobile® is available to all new and existing Spectrum Internet customers and offers plans that include 5G access, do not require contracts and include taxes and fees in the price.”

Annual report 2025A · The company itself

“Our Internet and mobile product bundles provide a differentiated connectivity experience by bringing together Spectrum Internet, Advanced WiFi and Unlimited Spectrum Mobile to offer consumers fast, reliable and secure online connections on their favorite devices at home and on the go in high-value packages. We have completed deals with major programmers to deliver better flexibility and greater value to our customers by including seamless entertainment applications with certain of our Spectrum TV packages at no additional cost.”

Annual report 2025A · The company itself

“The increase in mobile service revenues from our residential customers is attributable to the following (dollars in millions): Increase in average residential mobile lines $ 714 Decrease related to rate (35) $ 679 Residential mobile lines increased by 1.8 million in 2025 compared to 2024.”

Annual report 2025A · The company itself

“Collaboration Our Collaboration portfolio consists of our Webex Suite, Collaboration Devices, Contact Center and Communication Platform as a Service (CPaaS) offerings. These offerings consist of software, including perpetual licenses and subscription arrangements, as well as hardware.”

Annual report 2026A · The company itself

“Service Provider and Cloud Service Provider and Cloud includes regional, national, and international wireline carriers and hyperscalers, as well as Internet, cable, and wireless providers. We also include media, broadcast, and content providers within this customer market, as the lines in the telecommunications industry continue to blur between traditional network-based, content-based and application-based services.”

Annual report 2026A · The company itself

“Our CMT segment includes global communications, media and entertainment, education, publishing, information and professional services and technology companies.”

Annual report 2025A · The company itself

“(“Coherent,” the “Company,” “we,” “us,” or “our”), is a vertically integrated manufacturing company that develops, manufactures, and markets lasers, transceivers, and other optical and optoelectronic devices, modules, and systems, as well as engineered materials, for use in the data center, communications and industrial markets.”

Annual report 2026A · The company itself

“The increase in revenues of $1,519 million during fiscal 2026 was primarily driven by growth in our Datacenter business reflecting continued strong AI datacenter demand, driven primarily by transceivers, as well as higher Communications business volumes due to increased demand for datacenter interconnect, scale across and traditional telecom applications.”

Annual report 2026A · The company itself

“We develop optical communications technologies that enable high-speed transmission systems, transport networks, and datacenter connectivity supporting the growing bandwidth demands of AI, cloud computing, and next-generation communications networks.”

Annual report 2026A · The company itself

“These substrates are utilized by customers worldwide not only to manufacture GaN-on-SiC HEMT RF power amplifier devices that are embedded in remote radio heads in 4G, 5G, and 6G wireless base stations.”

Annual report 2026A · The company itself

“BEAMMWAVE AB BeammWave har patenterad teknologi inom kommunikationslösningar för frekvens - band högre än 24 GHz. Som första produkt utvecklas en digital lösning med högre prestanda, bestående av ett radiochip, antenn och mjukvarualgoritm för 5G, anpassat framför allt för tillämpningar inom mobiltelefoni.”

Annual report 2024A · The company itself

“Our Connected Portfolio CRH’s connected portfolio of value-added building materials, products and services serves transportation and critical infrastructure construction (including highways, bridges, rail, water, energy and telecommunications projects), reindustrialization activity (including manufacturing and data center projects) and commercial and residential markets across North America, Europe and Australia.”

Annual report 2025A · The company itself

“Medical devices are increasingly connected to the internet, hospital networks, and other medical devices to provide features that improve healthcare and increase the ability of healthcare providers to treat patients and patients to manage their conditions. For example, we are pursuing collaborations to enable the connectivity and interoperability of our current and next-generation sensors and transmitters with third-party patient monitoring products, which may in turn be connected with the internet, hospital networks and in some cases, other medical devices.”

Annual report 2025A · The company itself

“Quantitative Research and Investment Firm 2 41,524 0.9 % 5.5 18 Morgan Stanley 13 39,944 0.9 % 3.9 19 Rackspace 23 39,768 0.8 % 9.1 20 Global Commerce Platform 13 39,500 0.8 % 5.6 ​ Total / Weighted Average ​ ​ $ 2,399,695 50.9 % 6.1 Note: Represents consolidated portfolio in addition to our managed portfolio of unconsolidated entities based on our ownership percentage.”

Annual report 2025A · The company itself

“Dometic har fastställt fyra kärnteknik-områden: elektronik, konnektivitet, kylning och mobil energi.”

Annual report 2024A · The company itself

“• Marknaden drivs av ett fortsatt skifte till handel online, vilket i allt större utsträckning blir ett naturligt val för många företag och i sin tur medför en ökad efterfrågan på digital rådgivning och support online. • Stark tillväxt inom mobilitet och molntjänster, pådriven av fortsatt digitalisering, nya arbetssätt och skiftande arbetsplatser som ökar behovet av integrerade IT-lösningar och tjänster. • Fortsatt skifte till abonnemangsmodeller som erbjuder ett enkelt sätt för kunder att ta kontroll över sina IT-kostnader.”

Annual report 2024A · The company itself

“Nära och långsiktiga relationer med hyresgästerna, som till övervägande del utgörs av större, stabila företag med internationell verksamhet, eftersträvas. Hyresgästerna är huvudsakligen verksamma inom finans, informations-, kommunikations- och teknologisektorn (ICT) samt e-handel.”

Annual report 2024A · The company itself

“The competitive environment has been active, especially in mobile subscriptions.”

Annual report 2025A · The company itself

“Competition in the fixed broadband market has continued to be intense, and the number and usage of traditional fixed network subscriptions is declining.”

Annual report 2025A · The company itself

“The rapid developments in telecommunications technology may have a significant impact on Elisa’s business.”

Annual report 2025A · The company itself

“Furthermore, the volume of phone traffic on the fixed network has been decreasing during recent years.”

Annual report 2025A · The company itself

“Capital expenditure, of which 355 338 Consumer Customers 232 229 Corporate Customers 112 106 International Software Services 11 2 Shares Total investments 371 452 Shares and business acquisitions 15 124 Reclassification on inventories 13 Leases Capital expenditure excluding leases, reclassification on inventories, shares and business acquisitions 280 295 Capital expenditure as % of revenue 12 13 The main capital expenditures were related to the capacity and coverage increases in 5G networks, fiber and other networks, as well as IT investments.”

Annual report 2025A · The company itself

“It further assumes telecom service revenue growth of 1–3 per cent and international software services organic revenue growth over 10 percent.”

Annual report 2025A · The company itself

“Mobile service revenue is the main driver of telecom service growth.”

Annual report 2025A · The company itself

“Good demand for 5G services has also continued due to the wider range of 5G devices and better network coverage.”

Annual report 2025A · The company itself

“Revenue increased by 3 per cent on the previous year, mainly due to growth in mobile and international software services, corporate digital services as well as interconnection and roaming.”

Annual report 2025A · The company itself

“Revenue decreased by 1 per cent, being negatively affected by fixed services and equipment sales. Revenue was positively affected by growth in mobile and digital services as well as interconnection and roaming.”

Annual report 2025A · The company itself

“Revenue was positively affected by growth in mobile, fixed and energy software services, as well as in interconnection and roaming revenue.”

Annual report 2025A · The company itself

“Elkem helps its customers create and improve essential innovations like electric mobility, digital communications, health, and personal care as well as smarter and more sustainable cities.”

Annual report 2024A · The company itself

“Elmera Group and Telia entered into cooper- ation on mobile customers through Fjordkraft Mobil AS. Fjordkraft AS owns 61 per cent of Fjordkraft Mobil AS, while the remaining shares are owned by Telia Norge AS.”

Annual report 2024A · The company itself

“NGI – New Growth Initiatives Mobile In April 2017, Fjordkraft became a mobile ser- vice provider. Fjordkraft offers its customers low-cost mobile services via Telia’s network. Fjordkraft is the largest mobile service pro- vider in Norway without its own telecommu- nications network.”

Annual report 2024A · The company itself

“Elon Business IT & Solutions är ett nytt affärsområde inom Elon Business där grunden etablerades under 2024. Erbjudandet omfattar telekom och IT, initialt med 35 enheter på lika många orter i Sverige.”

Annual report 2024A · The company itself

“Expansion inom B2B och starkare egna varumärken Företagsmarknaden är en viktig del av vår verksamhet och under 2024 tog vi ytterligare steg genom lanseringen av Elon Business IT & Solutions. Denna satsning på kommunikations och ITlösningar riktade mot SMEsegmentet ger oss möjligheten att bredda vårt erbjudande till en marknad med stor tillväxtpotential.”

Annual report 2024A · The company itself

“Clients of our building services business include major corporations engaged in information technology, telecommunications, pharmaceuticals, financial services, and manufacturing, institutional organizations, healthcare providers, large retailers and other businesses with geographically dispersed locations, as well as federal and state governments.”

Annual report 2025A · The company itself

“Tietoliikenneverkkoihin liittyvä markkinaympäristö pysyi edelleen vakaana Suomessa operaattoreiden investoidessa valokuiturakentamiseen ja nopeutuvassa tahdissa datakeskusten tietoliikenneyhteyksiin.”

Annual report 2025A · The company itself

“Hyvä asema kasvavien markkinoiden ytimessä Olemme valitsemillamme markkinoilla kolmen merkittävimmän toimijan joukossa, ja kehitämme osaamistamme jatkuvasti. Enersensen markkinoilla on vahvaa luontaista kasvua. Kaikissa toimintamaissamme investoidaan voimakkaasti sähkö- ja tietoliikenneverkkojen kapasiteettiin ja toimintavarmuuteen.”

Annual report 2025A · The company itself

“Keskitimme toimintamme kasvaville markkinasegmenteille ja vahvoihin osaamisalueisiimme sähkö- ja tietoliikenneverkoissa sekä puhtaassa energiasiirtymässä.”

Annual report 2025A · The company itself

“Connectivity Connectivity-liiketoimintayksikkö on tietoliikenneyhteyksien elinkaarikumppani. Liiketoimintayksikkö suunnittelee, rakentaa ja ylläpitää kiinteitä ja langattomia tietoliikenneverkkoja sekä niihin liittyvää infrastruktuuria tietoliikenneoperaattoreille, tietoliikenneinfrastruktuurin omistajille ja datakeskuksille.”

Annual report 2025A · The company itself

“Enersensen toiminta tuottaa asiakkaille vihreään energiasiirtymään, tietoliikenneyhteyksiin ja yhteiskunnan infrastruktuuriin liittyviä tuotteita ja palveluita.”

Annual report 2025A · The company itself

“Liiketoimintayksikkö suunnittelee, rakentaa ja ylläpitää kiinteitä ja langattomia tietoliikenneverkkoja sekä niihin liittyvää infrastruktuuria tietoliikenneoperaattoreille, tietoliikenneinfrastruktuurin omistajille ja datakeskuksille.”

Annual report 2025A · The company itself

“Connectivity Connectivity-liiketoimintayksikkö on tietoliikenneyhteyksien elinkaarikumppani. Liiketoimintayksikkö suunnittelee, rakentaa ja ylläpitää sekä kiinteitä että langattomia tietoliikenneverkkoja tietoliikenneoperaattoreille, tietoliikenneinfrastruktuurin omistajille ja datakeskuksille.”

Annual report 2025A · The company itself

“Affärsområde Dynava erbjuder kundtjänst och svarsservice för större bolag i Norden samt nummerupplysningstjänster och svarar för 39 procent av omsättningen.”

Annual report 2024A · The company itself

“Digitalisering: Ordertillväxten för våra digitala lösningar ökade med 30%, och vi vann två stora order i Australien på lösningar för trådlös uppkoppling i gruvor. Robusta och tillförlitliga trådlösa nätverk är avgörande för att stödja automation och digitalisering av gruvdrift, vilket är strategiska tillväxtområden för oss.”

Annual report 2024A · The company itself

“Vi erbjuder viktiga nätverksoch infrastrukturlösningar för sömlös uppkoppling – fast och mobil – med hjälp av teknologier som digitalt tvåvägsradiosystem och LTE 4G/5G.”

Annual report 2024A · The company itself

“Två gruvbolag har beställt LTE-lösningar (Long-Term Evolution) som kommer att stärka säkerheten och produktiviteten genom att förse de avlägset belägna gruvorna med tillförlitlig, säker och snabb bandbredd för att möjliggöra applikationer som automation, hantering av maskinflottor och realtidsdata.”

Annual report 2024A · The company itself

“We partner with customers across a diverse set of industries including data center, healthcare, industrial, automotive, communications, and lifestyle.”

Annual report 2026A · The company itself

“A growing part of our business involves connectivity, digital and physical services, and integrated software services, and we are devoting significant resources to develop this business. Further, we have announced our plans and expectations for integrated services to become a larger portion of our revenue and earnings by offering new and differentiated products, retaining existing subscribers, and growing subscription rates with new customers.”

Annual report 2025A · The company itself

“Our radar altimeter products for aircraft operate in a radio frequency band just above the C-band that has been allocated for 5G mobile wireless systems. There is a risk that 5G telecommunication systems operating in the vicinity of airports could cause harmful interference to radar altimeters resulting in inaccurate altimeter readings or complete altimeter failure.”

Annual report 2025A · The company itself

“Generac is the leading supplier of backup power to the telecommunications market in the United States.”

Annual report 2025A · The company itself

“As a leader in providing backup power generators for wireless cell towers around the world, we believe we can play an important role in helping to protect and build this critical telecommunications infrastructure.”

Annual report 2025A · The company itself

“Our industrial standby generators are primarily used as emergency backup for larger applications such as data centers, healthcare, telecom, datacom, commercial office, retail, distribution centers, manufacturing, and municipal, among others.”

Annual report 2025A · The company itself

“With nearly three decades of experience, OnStar is a global leader in enabling connected vehicle services. OnStar is available in more than 20 markets globally.”

Annual report 2025A · The company itself

“In addition, we are dependent on the interoperability of our products with these channels, applications and mobile devices.”

Annual report 2025A · The company itself

“The A&C and Core segments provide a view into the product-focused organization of our business and generate revenue as follows: •A&C primarily consists of sales of products containing proprietary software, notably our website building products, as well as our commerce products and third-party email and productivity solutions and sales of certain products when they are included in bundled offerings of our proprietary software products. Table of Contents •Core primarily consists of sales of domain registrations and renewals, aftermarket domain sales, website hosting products and website security products when not included in bundled offerings of our proprietary software products as well as sales of products not containing a software component.”

Annual report 2025A · The company itself

“För tyska WISI Group, en global marknadsledare inom telekommunikationsteknik, blir vi strategisk partner med hantering och konsolidering av deras produktion i HANZAs anläggningar i Centraleuropa.”

Annual report 2024A · The company itself

“We have extended the deployment model from on-premise and cloud-adjacent to include software-defined cloud native deployments in Amazon Web Services.”

Annual report 2025A · The company itself

“We are expanding our wireless access portfolio to include new Wi-Fi (e.g., Wi-Fi 7) and private cellular (4G, LTE, and 5G) products to complement our existing portfolio. We have expanded our security capabilities delivering stand-alone SSE; and integrating security with our software-defined wide area network (“SD-WAN”) capabilities to deliver a single-vendor SASE solution.”

Annual report 2025A · The company itself

“In the first quarter of 2025, the Company acquired Ventev for approximately $73 million. Ventev is a leading manufacturer and provider of a complete ecosystem of solutions to power, protect, and connect wireless networks. The Ventev business has been added to the Electrical Solutions segment.”

Annual report 2025A · The company itself

“Corporate, Specialty, and Government Banking serves medium to large enterprises. We focus on specific industry verticals such as government and non-profits, healthcare, technology and telecommunications, franchises, financial sponsors, Native American financial services, mortgage financial services, fund finance, and global services.”

Annual report 2025A · The company itself

“We continue to drive the transformation from fixed-function networks onto Intel Xeon processors coupled with our FlexCore and FlexRAN™ software. Our software-based cloud RAN Platform is designed to allow operators to deploy the fastest cloud-native 5G infrastructure quickly and efficiently to meet the needs of their end customers.”

Annual report 2025A · The company itself

“Other DCAI product revenue also increased from 2024 driven by higher networking customer-related demand.”

Annual report 2025A · The company itself

“Medan 80–85 procent av den totala volymen kommer från banker och finansiella institutioner är cirka 10–15 procent förfallna fordringar från andra typer av bolag, främst inom energi och telekom.”

Annual report 2024A · The company itself

“Servicing erbjuder kredithantering med fokus på sena betalningar samt inkassohantering för främst tredjepartsklienter som behöver hjälp att driva in sena betalningar.”

Annual report 2024A · The company itself

“Vi har omfattande erfarenhet inom sektorer som bank, finans, telekommunikation och energi.”

Annual report 2024A · The company itself

“En ledande global leverantör av infrastruktur, teknologi och informationstjänster till de finansiella marknaderna. • Nasdaq är ledande inom den lönsamma tradingverksamheten i både USA och Norden och företaget har byggt positioner i attraktiva närliggande verksamheter. • Den finansiella utvecklingen var stark under 2022, drivet av höga tradingvolymer.”

Annual report 2022A · The company itself

“• Med sin konkurrenskraftiga produktportfölj inom nätverksutrustning och relaterade tjänster ligger Ericsson i den teknologiska framkanten och driver innovation inom mobila nätverk. • Under 2022 utvecklades Networks fortsatt väl.”

Annual report 2022A · The company itself

“• Tre lanserade FWA (Fixed Wireless Access), ett erbjudande med trådlöst höghastighetsbredband via 5G-nätet.”

Annual report 2022A · The company itself

“Defense Innovation Unit utvecklade under 2024 en lösning för trådlös taktisk kommunikation. Arbetet, som bedrevs i nära samarbete med slutanvändare, resulterade i den nya produkten INVISIO Link.”

Annual report 2024A · The company itself

“The Intelligent Infrastructure segment is focused on the modern digital ecosystem including artificial intelligence (“AI”) infrastructure and includes revenues from customers primarily in the capital equipment, cloud and data center infrastructure, and networking and communications industries.”

Annual report 2025A · The company itself

“Another part of the connectivity market sector is communication, which supplies the backbone for sensors and IOT. Typical products here are wireless communication, optical transmission and networking products.”

Annual report 2024A · The company itself

“The digitization of industries, including 5G markets, advances in healthcare and industrial applications, and the increasing adoption of electric vehicles and intelligence in automobiles, also supports leading-edge design node technology investments and capacity expansions.”

Annual report 2026A · The company itself

“*Sustainability statement is a part of the report from the Board of Directors Annual Report 2024 | LINK in short 1000 2000 3000 4000 5000 6000 7000 8000 LINK in short 4,291 4,914 6,282 6,994 2021 2024202320222021 Revenue NOKm Adjusted EBITDA NOKm +17% +13% 7.0 billion 718 million margin of 10.3% LINK is a leading provider of mobile communications, specializing in CpaaS solutions and mobile messaging solutions.”

Annual report 2024A · The company itself

“Vi förvärvar, utvecklar och förvaltar hållbara fastigheter i attraktiva lägen med fokus på fortsatt tillväxt och långsiktiga relationer med våra hyresgäster. Logisteas fastighetsbestånd är koncentrerat till strategiska logistik- och industrilägen nära viktiga städer, större trafikleder, flygplatser, järnvägar, hamnar, fiske- eller annan livsmedelsindustri.”

Annual report 2024A · The company itself

“Table of Contents Our Markets and Products Our product solutions serve two end markets: (i) data center and (ii) communications and other.”

Annual report 2026A · The company itself

“Table of Contents The following table summarizes net revenue disaggregated by end market (in millions, except percentages): Year Ended January 31, 2026 % of Total February 1, 2025 % of Total February 3, 2024 % of Total Data center $ 6,100.3 74 % $ 4,164.2 72 % $ 2,216.7 40 % Communications and other 2,094.3 26 % 1,603.1 28 % 3,291.0 60 % Total $ 8,194.6 $ 5,767.3 $ 5,507.7 Our portfolio of solutions integrate multiple analog, mixed-signal and digital intellectual property components incorporating hardware, firmware and software technologies and our system knowledge to provide our customers highly integrated solutions for their end products.”

Annual report 2026A · The company itself

“Interconnects We offer a complete portfolio of high-speed interconnect semiconductor solutions for inside cloud data centers, between cloud data centers and in carrier networks.”

Annual report 2026A · The company itself

“Our comprehensive Ethernet switch portfolio addresses enterprise campus, enterprise data center, industrial, carrier, cloud and AI system applications.”

Annual report 2026A · The company itself

“The OCTEON DPUs and processors are targeted for use in a wide variety of carrier, data center, and enterprise equipment, including routers, switches, security UTM appliances, content-aware switches, application-aware gateways, wireless access points, 3G/4G/5G wireless base stations, storage arrays, smart network interface controllers, network functions virtualization (“NFV”) and software-defined networking (“SDN”) infrastructure.”

Annual report 2026A · The company itself

“Our OCTEON Fusion family of wireless baseband infrastructure processors is a highly scalable product family supporting enterprise small cells, high capacity outdoor picocells and microcells all the way up to multi-sector macrocells for multiple wireless protocols including 5G.”

Annual report 2026A · The company itself

“Messenger is a simple yet powerful messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls.”

Annual report 2025A · The company itself

“WhatsApp is a simple, reliable, and secure messaging application that is used by people and businesses around the world to communicate and transact in a private way. Within WhatsApp we launched WhatsApp Channels, a one-to-many broadcast service designed to help people follow information from people and organizations that are important to them.”

Annual report 2025A · The company itself

“We develop and support a broad portfolio of technology solutions for individuals and businesses, focusing on secure, trusted, and innovative platforms and applications that meet evolving customer needs across AI, cloud computing, productivity and collaboration, and personal computing.”

Annual report 2026A · The company itself

“End Markets and Applications We design and develop our products for the storage and computing, enterprise data, automotive, communications, consumer, and industrial end markets.”

Annual report 2025A · The company itself

“Radio Spectrum Regulations Radio spectrum is required to provide wireless voice, data and video communications services. The allocation of frequencies is regulated in the U.S. and other countries and limited spectrum is allocated to wireless services, including enterprise, public safety and government users.”

Annual report 2025A · The company itself

“As another example, there have been and are currently initiatives by governments in several countries to transition public safety communications away from LMR networks onto public mobile broadband networks. While such initiatives have gained limited traction to date, if customers conclude that public mobile broadband networks, potentially augmented with emerging technologies, provide adequate resiliency, coverage, control, and cost for their critical communication needs, it could adversely affect our MCN sales.”

Annual report 2025A · The company itself

“Our products operate both on licensed and unlicensed spectrum. The loss of available radio spectrum may result in the loss of business opportunities.”

Annual report 2025A · The company itself

“MCN Our MCN technology includes infrastructure and devices for LMR, MANET, as well as devices for public safety Long Term Evolution (“LTE”) and public carrier LTE. Our technology enables voice and multimedia collaborations across two-way radio, Wi-Fi and public and private broadband networks.”

Annual report 2025A · The company itself

“We are a global leader in the two-way radio category, including Project 25 (P25), Terrestrial Trunked Radio (TETRA) and Digital Mobile Radio (DMR), as well as other PCR solutions.”

Annual report 2025A · The company itself

“We also deliver LTE solutions for public safety, government, including defense, and enterprise users with our portfolio of devices operating in both low-band and mid-band frequencies.”

Annual report 2025A · The company itself

“We are a provider of certain services that include telecommunications in the U.S., including selective routing services for 911 calls. As such, we are subject to certain Federal Communications Commission (FCC) and possible state regulations relating to telecommunications, including some certification or licensing, service reliability, and regulatory fee requirements.”

Annual report 2025A · The company itself

“For example, we are registered to provide WAVE PTX push-to-talk offerings, with and without telecommunications connectivity, in certain countries internationally.”

Annual report 2025A · The company itself

“Vi har även kunder i branscher som flygteknik, försvar, fordonsindustri, datakommunikation, medicin, energi, järnväg, säkerhetskritiska sektorer och telekom.”

Annual report 2024A · The company itself

“Alongside transport and logistics, we enable innovation in energy & utilities, helping energy suppliers, e-Mobility, waste management, telecoms, and wind power companies modernise legacy systems and accelerate their transition to data-driven, customer-centric operations.”

Annual report 2025A · The company itself

“Asiakkaitamme ovat viestintäpalvelujen tarjoajat, tekoäly- ja pilvipalveluasiakkaat sekä toimintakriittiset yritykset, mukaan lukien puolustusteollisuus.”

Annual report 2025A · The company itself

“EUR 2025 2024 Muutos % Viestintäpalvelujen tarjoajat 15 313 15 085 2 % Tekoäly- ja pilvipalveluasiakkaat ja toimintakriittiset yritykset ja puolustusteollisuus 3 085 2 180 42 % Lisenssinsaajat 1 501 1 928 -22 % Muut (1) -10 27 -137 % Yhteensä 19 889 19 220 3 % (1) Vuosi 2025 sisältää segmenttien välisten tuottojen eliminoinnit, kohdistamattomat erät sekä tiettyjä muita eriä.”

Annual report 2025A · The company itself

“Nolato ser en stark tillväxt inom Materials (tidigare EMC & Thermal) för nya produkter och teknikområden inom fordonssegmentet och nya marknader. Materials, som tidigare dominerades av telekomsektorn, har nu en jämnare fördelning av försäljningen mellan segmenten telekom, fordonsindustrin och flygindustrin.”

Annual report 2024A · The company itself

“Materials har under året sett en bra tillväxt om 10 procent drivet av flertalet nya affärer inom bland annat fordonsindustrin samt återhämtning för telekom under andra halvåret.”

Annual report 2024A · The company itself

“Koncernen arbetar nära kunder med ledande position inom områden som medicinteknik, läkemedel, konsumentelektronik, telekom, fordon, hygien och andra utvalda industriella områden.”

Annual report 2024A · The company itself

“Vi använder den för att producera adhesiv, packningar, tätningar och kosmetiska detaljer inom telekom-, fordons-, medicinteknik och elektronikindustrin.”

Annual report 2024A · The company itself

“Verksamheten inom Materials (tidigare EMC) uppvisade ökade volymer jämfört med föregående år, justerat för valuta och förvärv ökade omsättningen med 10 procent.”

Annual report 2024A · The company itself

“Starting with proprietary 2.4GHz technology for PC accessories in 2002, Nordic has developed into a leading global supplier of Bluetooth® LE and multiprotocol solutions for short-range connectivity.”

Annual report 2024A · The company itself

“As a leader in low-power dual-band Wi-Fi 6 IoT solutions, Nordic differentiates itself by supporting both 2.4GHz and 5GHz bands, unlike many competitors who offer singleband solutions. This enables optimized throughput and seamless Bluetooth coexistence while empowering efficient, battery-operated Wi-Fi applications.”

Annual report 2024A · The company itself

“Kunderna är verksamma inom segmenten Industrial, Communication, Medtech och Greentech.”

Annual report 2024A · The company itself

“Tillverkningen utgörs av bland annat nätverksprodukter, antenner och IoT-enheter.”

Annual report 2024A · The company itself

“NOTE delar in sin försäljning i fyra kundsegment. En beskrivning av dessa finns under Detta är NOTE, på sidan 2.”

Annual report 2024A · The company itself

“We are transforming our position through multiple direct-to-consumer pathways by rapidly expanding our NovoCare ® direct-to-patient platform to simplify access and reduce costs, forging new telehealth collaborations and securing retail pharmacy agreements including CVS to improve continuity of care.”

Annual report 2025A · The company itself

“The Company also relies on a number of sole or limited source suppliers for critical components for its smart home products and services, and those services are dependent on third-party cellular, telecommunications and/or internet providers.”

Annual report 2025A · The company itself

“UWB, thanks to its unique precision, robustness, and reliability, is emerging as a secure, fine-ranging technology capable of enabling a wide range of innovative location-based user experiences. The technology is gaining momentum thanks to wider chipset availability, adoption across various devices by multiple brands, and the formation of a strong UWB ecosystem across the whole supply chain where NXP is well positioned.”

Annual report 2025A · The company itself

“Most countries in the world have migrated their wireless infrastructure to 5G network technology. This application market provides base station radio units with power amplifiers for improved signal throughput and efficiency.”

Annual report 2025A · The company itself

“The vast majority of our revenue is derived from sales to manufacturers in the Automotive, Industrial & IoT, Mobile, and Communication Infrastructure end markets.”

Annual report 2025A · The company itself

“Revenue by Industry Revenue by industry sector: Year Ended December 31, 2025 2024 2023 Pharmaceuticals and Healthcare 15 % 16 % 16 % Food and Beverage 15 % 15 % 15 % Auto 12 % 12 % 12 % Consumer Products 9 % 10 % 8 % Financial Services 8 % 7 % 8 % Retail 8 % 6 % 6 % Technology 8 % 8 % 8 % Travel and Entertainment 7 % 7 % 7 % Government 3 % 4 % 4 % Telecommunications 3 % 3 % 4 % Services 3 % 3 % 2 % Oil, Gas and Utilities 2 % 2 % 2 % Not-for-Profit 1 % 1 % 1 % Education 1 % 1 % 1 % Other 5 % 5 % 6 % Total 100 % 100 % 100 % 25 Operating Expenses The year-over-year change in operating expenses:”

Annual report 2025A · The company itself

“Our end-customers operate in a variety of industries, including education, energy, financial services, government entities, healthcare, Internet and media, manufacturing, public sector, and telecommunications.”

Annual report 2026A · The company itself

“Market Risk Management – Customer-Related Trading Risk We engage in fixed income securities, derivatives and foreign exchange transactions to support our customers’ investing and hedging activities.”

Annual report 2025A · The company itself

“Customer-related trading revenue was $236 million in 2025 compared to $122 million in 2024 and is recorded in Capital markets and advisory noninterest income and Other interest income on our Consolidated Income Statement.”

Annual report 2025A · The company itself

“Prevas erbjuder teknisk expertis och affärs- Nordens försvarsindustri Energibranschen har en avgörande roll för att Norden dustrin påverkas av flera Fordons- och transportin- För Prevas är det viktigt att vara med och fortsätta utveckla framtidens Prevas har lång erfarenhet av konsulttjänster inom mobila nät och bidrar med viktig expertis inom radionära funktioner.”

Annual report 2024A · The company itself

“Negative economic conditions in the electric power, energy or communications industries can also result in reduced spending by, or the loss of, one or more of our customers, including as a result of, among other things, consolidation, competition, capital constraints, concerns regarding the affordability of electricity to end consumers or a decrease in demand for electric power required by large load facilities.”

Annual report 2025A · The company itself

“Speed Group tecknar nytt miljardkontrakt med Ericsson Efter en gedigen upphandlingsprocess väljer Ericsson att ge Speed Group förnyat förtroende att driva och utveckla Ericssons logistikhub i Borås. Det nya avtalet löper på åtta år och bedöms vara värt 2,5 miljarder SEK.”

Annual report 2024A · The company itself

“we design, develop and manufacture wireless IP telephony products and sub-systems”

Annual report 2025A · The company itself

“good business depends on transmitting and receiving high-quality sound reliably”

Annual report 2025A · The company itself

“Risk description A significant part of RTX’s business is based on its unique knowledge within advanced wireless radio systems. Therefore, technological changes may affect future business opportunities for RTX. A revolution of the wireless communication standards and competence platforms, which RTX currently incorporates into its products and solutions, may lead to lost business opportunities, especially longer term.”

Annual report 2025A · The company itself

“Visit our website to learn more about our turn-key solutions → Helping people perform at their best RTX’s purpose is to help people perform at their best by providing our customers with the best possible wireless communications solutions.”

Annual report 2025A · The company itself

“Slack. Our Slack offering is the conversational interface for the Agentic Enterprise where people and agents work together, connecting knowledge, actions, and data in real time. Slack centralizes conversations and collaboration, automates business processes, makes search and knowledge sharing seamless, and delivers trusted generative and agentic AI that augments employees so they can work smarter, make decisions faster, and drive real outcomes.”

Annual report 2026A · The company itself

“Technology Technology Provider Service Management, combined with Sales and Order Management, helps technology providers manage sales, delivery, support and customer success across the customer lifecycle, from quote to deal closure.”

Annual report 2025A · The company itself

“Telecom Telecom Service Management, Network Inventory Management and Telecom Service Operations Management, combined with Sales and Order Management, enables telecom service providers to manage customer service and infrastructure operations across front, middle and back-office functions.”

Annual report 2025A · The company itself

“- RCS for Business och e-post Den kommersiella meddelandebranschen utvecklas för närvarande kraftigt med en bredare expansion av RCS-meddelanden (Rich Communication Services) för företag. Jämfört med vanliga SMS ger RCS-meddelanden företagen möjlighet att leverera en varumärkesskyddad och avsevärt förbättrad upplevelse, inklusive tvåvägskommunikation.”

Annual report 2024A · The company itself

“These solutions include Ansys Mechanical™, Ansys LS-DYNA, Ansys SherlockTM and more. •Electronics – Our electronics product suite provides electromagnetic field simulation software for designing high-performance electronic and electromechanical products. The software streamlines the design process and predicts performance of mobile communication and internet-access devices, broadband networking components and systems, ICs and printed circuit boards.”

Annual report 2025A · The company itself

“Combitech har en stark position inom dessa områden och utvidgar sin kärnkompetens genom stabil acceleration inom militärt och civilt försvar, försvarsindustrin, telekomindustrin inklusive kritisk kommunikation, och gruvsektorn.”

Annual report 2024A · The company itself

“Network Strategy Utilizing our multilayer spectrum portfolio, our mission is to become “Famous for Network” and we have been recognized by third parties for having America’s best network. We have deployed low-band, mid-band and mmWave spectrum dedicated for 5G across our dense and broad network to create what we believe is America’s largest, fastest, most awarded and most advanced 5G network.”

Annual report 2025A · The company itself

“We believe our spectrum position and focus on technology leadership will continue to drive network differentiation. Our innovative Customer-Driven Coverage (“CDC”) approach to network investments, and leadership in deploying the latest network technologies including Massive Multiple-input Multiple-output (“Massive MIMO”), Voice over New Radio (“VoNR”), Low Latency, Low Loss, Scalable Throughput (“L4S”), four-carrier and higher order aggregation, dynamic network slicing and the U.S.’s first broad deployment of 5G Advanced, are enabled by our scaled nationwide 5G standalone network.”

Annual report 2025A · The company itself

“Business Business Overview and Strategy Un-carrier Strategy As America’s supercharged Un-carrier, we have disrupted the telecommunications industry by actively engaging with and listening to our customers and focusing on eliminating their pain points. Our customers benefit from what we believe is an unmatched combination of the best value and best network, alongside an unwavering focus on offering them the best possible service experience and an undisputable drive for disruptive innovation in wireless and beyond.”

Annual report 2025A · The company itself

“Services and Products We provide wireless communications and broadband services through a variety of service plan options. We also offer for sale to customers a wide selection of wireless devices, including smartphones, wearables, tablets, 5G broadband gateways and other mobile communication devices that are manufactured by various suppliers.”

Annual report 2025A · The company itself

“In addition to our wireless communications services, we offer complementary broadband services including 5G broadband, which is a fixed wireless product available to tens of millions of domestic households utilizing the excess capacity of our nationwide 5G network, and fiber, expanding broadband access and choices for some consumers.”

Annual report 2025A · The company itself

“We are dependent on a limited number of customers that account for a significant portion of our sales. Sales to our five largest customers during the fiscal year ended March 31, 2026, accounted for 80.6% of our net revenue, with Apple, Sony, Google, and Microsoft each accounting for more than 10.0% of our net revenue.”

Annual report 2026A · The company itself

“The Industrial Solutions segment’s products are used in the following end markets: ● Digital data networks (28% of segment’s net sales)—We deliver products and solutions that are used in a variety of equipment architectures within the networking, data center, and wireless infrastructure industries. Additionally, we deliver a range of connectivity solutions for the Internet of Things, smartphones, tablet computers, virtual reality, and artificial intelligence/machine learning applications to help our customers meet their current challenges and future innovations.”

Annual report unknown yearA · The company itself

“Our indirect sales model with our Essentials MDM software is definitively a highlight to mention, growing year over year by 34% and adding new sales partners, like mobile operators and managed mobility players to our eco-system.”

Annual report 2024A · The company itself

“The advanced nano-sized materials are currently developed in close cooperation with potential customers and are to be applied in the manufacturing of microelectronic devices (MLCCs) used in consumer electronics, autonomous vehicles, and 5G and Internet-of-Things (IoT) communications equipment.”

Annual report 2024A · The company itself

“Tjänsteintäkterna från slutkund uppgick till 21 799 miljoner kronor, en ökning med 3% på organisk basis jämfört med helåret 2023, drivet av tillväxt inom samtliga verksamhetsområden. • De totala intäkterna uppgick till 29 583 miljoner kronor, en ökning med 2% på organisk basis jämfört med 2023. • Underliggande EBITDAaL uppgick till 10 612 miljoner kronor, en ökning med 2% organiskt jämfört med 2023, då tillväxt från tjänsteintäkter från slutkund och kostnadsbesparingar från Strategy Execution Program mer än kompenserade för kostnadsinflation. • Rörelseresultatet uppgick till 5 817 miljoner kronor, en ökning med 6% jämfört med 2023. • Nettoresultatet uppgick till 3 870 (3 735) miljoner kronor, och resultatet per aktie till 5,59 (5,40) kronor. • Fortsatt intensiv utbyggnad av 5G-nät på samtliga marknader, och uppgraderingar av fast bredband till gigabit i Sverige, vilket möjliggör snabbare, mer tillförlitliga och säkra tjänster för våra kunder.”

Annual report 2024A · The company itself

“Vår strategi bygger på de djupa insikter vi har om vad våra kunder vill ha mer av, på våra ledande varumärken och på de investeringar vi har gjort i våra nätverk, tjänster och i vår informationsteknik. Med fokus på kundernas behov utvecklar vi våra affärssegment genom en kombination av volym och värdetillväxt.”

Annual report 2024A · The company itself

“Som premiumleverantör investerar vi i våra mobila och fasta nätverk för att tillhandahålla snabbare och mer tillförlitliga upp - kopplingar. Investeringar i 5G ger högre hastigheter och mer kapacitet för att tillgodose våra kunders behov.”

Annual report 2024A · The company itself

“Våra investeringar i 5G möjliggör nu ännu mer attraktiva mobila bredbandserbjudanden för att möta hushållens ökande behov av snabb och pålitlig uppkoppling.”

Annual report 2024A · The company itself

“Investeringar exklusive spektrum och leasing uppgick till 4 073 (3 941) miljoner kronor. Investeringarna bestod huvudsakligen av 5G-relaterade nätverksinvesteringar, uppgraderingar av det fasta nätet i Sverige samt IT-investeringar.”

Annual report 2024A · The company itself

“Lösningen är den första i sitt slag som möjliggör samar - bete utan att känslig data lämnar Sverige. • Tele2 och Cisco stärkte sitt partnerskap för att leverera förbättrad global IoT-uppkoppling och hantering för företag inom olika branscher.”

Annual report 2024A · The company itself

“Guidningen för 2025 är låg ensiffrig tillväxt för tjänsteintäkter från slutkund på organisk basis, medel till hög ensiffrig tillväxt för underliggande EBITDAaL på organisk basis och capex i relation till omsättning på cirka 13% (exklusive spektrum och leasing) då våra 5G-nätverksinvesteringar och den intensiva kundcentrerade transformationen fortsätter i hög takt.”

Annual report 2024A · The company itself

“Tele2 ser möjligheter att utöka sin kundbas genom att fokusera på inkludering av äldre och personer med funktionsnedsättningar. Genom att erbjuda anpassade lösningar, såsom förenklade gränssnitt, röststyrda kontroller och assisterande teknik, kan företaget attrahera utsatta demografiska grupper. Investeringar i 5G och IoT möjliggör avancerade applikationer, såsom hälsoövervakning, som tilltalar dessa grupper.”

Annual report 2024A · The company itself

“Våra snabba nät möjliggör mobil och fast uppkoppling, telefoni, datanätstjänster, TV, streaming och globala IoT-lösningar för miljontals kunder.”

Annual report 2024A · The company itself

“Tele2 tror på att frigöra de obegränsade möjligheter som uppkoppling möjliggör för alla våra kunder. Idag tillhandahåller våra höghastighetsnätverk mobil och fast uppkoppling, telefoni, datanätverkstjänster, TV, streaming och globala IoT-lösningar åt miljontals kunder.”

Annual report 2024A · The company itself

“Aktiviteter inom den egna verksamheten inkluderar produktförpackning, drift av datacenter, fasta och mobila nätverksoperationer samt stödjande funktio - ner såsom HR, kundservice och support, affärsstrategi och drift.”

Annual report 2024A · The company itself

“Möjlighet Möjliggörande av energieffektivitet Tele2s innovativa produkter och tjänster erbjuder en möjlighet att förbättra energieffektiviteten för sina kunder. Företagets IoT-lösningar optimerar drift och hjälper kunder att minska sin energiförbrukning, vilket stöds av forskning. Dessutom möjliggör lanseringen av Tele2s 5G-nätverk transformativa förbättringar av energieffektiviteten, då det, beroende på användning, är mer energieffektivt än tidigare generationer.”

Annual report 2024A · The company itself

“Rätten till integritet är huvudsakligen kopplad till Tele2s egna verksamheter, såsom telekommunikation, bredband, butiker och kontor.”

Annual report 2024A · The company itself

“S4 Konsumenter och slutanvändare: Social inkludering av konsumenter och/eller slutanvändare Liten Medel Hög Allvarlighetsgrad Väsentlig påverkan, risk eller möjlighet Uppströms Egen verksamhet Nedströms Beskrivning (potentiell) Förekomst: Medelhög sannolikhet (ett till fem år) Social inkludering av konsumenter/slutanvändare Tele2 är medvetet om att om behoven hos utsatta samhällsgrupper, såsom äldre eller personer med funktionsnedsättningar, inte beaktas i produkter och tjänster, kan det leda till digitalt utanförskap. Som leverantör av kommunikationsinfrastruktur strävar Tele2 efter att säkerställa att dess tjänster är inkluderande och tillgängliga för alla, för att förhindra negativa effekter av social exkludering.”

Annual report 2024A · The company itself

“Our leadership in Universal Serial Bus (“USB”) and video technologies provides a unique base to service the mobile, internet of things, automotive and consumer electronics test markets.”

Annual report 2025A · The company itself

“Väsentliga policyfrågor Utbyggnad av 5G och högkvalitativa mobilnär som erbjuder uppkoppling är avgörande för den ekonomiska utvecklingen. På vissa marknader är nuvarande politik och regelverk utformade för att stimulera privata investeringar och innovation inom näringslivet samt allmännyttiga tjänster på 5G-plattformen.”

Annual report 2024A · The company itself

“Vidtagna åtgärder avseende väsentlig påverkan, risker och möjligheter Ericsson utnyttjar sin kärnkompetens inom kommunikationsteknik för att stödja, utveckla och skapa positiv påverkan på intressenter i de samhällen där Bolaget är verksamt. I det här avsnittet beskrivs koncerngemensamma program och initiativ, genom vilka Ericsson, på icke-kommersiell basis, engagerar sig i lokalsamhällen och med andra intressenter.”

Annual report 2024A · The company itself

“Ericsson 2024 Finansiell rapport Bolagsstyrningsrapport Ersättningsrapport Rapport om hållbarhet och ansvarsfullt företagande Finansiell rapport Detta är Ericsson Ericsson är en ledande leverantör av mobilkommunikationslösningar till leverantörer av kommunikationstjänster, företag och den offentliga sektorn.”

Annual report 2024A · The company itself

“Segment Networks erbjuder hårdvaru- och mjukvarulösningar samt relaterade tjänsteerbjudanden som gör det möjligt för leverantörer av kommunikationstjänster att utveckla nya 5G-funktioner.”

Annual report 2024A · The company itself

“Ericsson säljer hårdvara, mjukvara och tjänster för kommunikationsinfrastruktur inom informations- och kommunikationsteknik (IKT).”

Annual report 2024A · The company itself

“Affärssegment Segmentet Networks utvecklar och distribuerar infrastruktur för mobilnät till leverantörer av kommunikationstjänster, som använder näten för att tillhandahålla telekommunikationstjänster till konsumenter och företag. Segmentet Networks erbjudande omfattar hårdvara för mobilnät, bland annat radiobasstationer, basband och antenner, mjukvara för att driva hårdvaruutrustningen samt relaterade tjänster såsom nätinstallation och underhåll.”

Annual report 2024A · The company itself

“Segmentet Cloud Software and Services tillhandahåller digitala lösningar till leverantörer av kommunikationstjänster för att driva och optimera prestandan i deras nätverk, med fokus på att hjälpa kunder att övergå till molnverksamhet och automatiserade nätverk. Segmentet hanterar också nätverk på uppdrag av leverantörer av kommunikationstjänster.”

Annual report 2024A · The company itself

“Enterprise Wireless Solutions utvecklar och levererar infrastruktur för privata nätverk och trådlösa WAN-nätverk (Wide Area Network) till företag.”

Annual report 2024A · The company itself

“Vi levererar högpresterande, programmerbara och energieffektiva nät som möjliggör en ökad tjänstedifferentiering. Våra företagslösningar erbjuder överlägsen kommunikation till företag samt avancerade nätfunktioner till applikationsutvecklare.”

Annual report 2024A · The company itself

“Affärsmodell, strategi och värdekedja Affärsmodell Ericsson är ett multinationellt företag med huvudkontor i Stockholm och kunder i mer än 175 länder.”

Annual report 2024A · The company itself

“During 2024, Telenor has provided critical connectivity to 207 million mobile customers in eight markets.”

Annual report 2024A · The company itself

“The mobile and broadband subscriptions provides access to voice and data/ internet. On top of these connectivity products, Telenor offers TV services and other services like security and ID theft insurance.”

Annual report 2024A · The company itself

“Other services include solutions for business customers like managed services, virtual private networks, software defined networks (SDx) and network as a service. IoT solutions are offered through Telenor Connexion and Telenor Nordic.”

Annual report 2024A · The company itself

“In December, DNA completed its nationwide 5G upgrade in Finland, reaching close to 100% population coverage.”

Annual report 2024A · The company itself

“The Nordics segment consist of mobile and fixed operations in Norway, Sweden, Denmark, and Finland. Offerings include mobile subscriptions and handsets, telephony, broadband, data security, communications services, and TV services to both residential and business customers.”

Annual report 2024A · The company itself

“The Asia segment consist of mobile operations in Telenor Pakistan and Grameenphone (Bangladesh). Offerings include mobile subscriptions, as well as wholesale services.”

Annual report 2024A · The company itself

“The Infrastructure segment provides passive telecom infrastructure in the Nordics such as towers, masts and buildings. The Infrastructure segment builds, develops and maintains passive telecom infrastructure and leases it to both internal and external customers.”

Annual report 2024A · The company itself

“Market Sector Industrial Industrial automation (33% of TI revenue) Aerospace & defense Energy infrastructure Building automation Medical & healthcare Test & measurement Other industrial equipment Appliances Power delivery Robotics Automotive Infotainment & cluster (33% of TI revenue) Advanced driver assistance systems (ADAS) Body electronics & lighting Hybrid, electric & powertrain systems Chassis control & safety Data center Data center compute (9% of TI revenue) Data center networking Rack power & thermal management Personal electronics Mobile phones (21% of TI revenue) PC & notebooks Portable electronics Home theater & entertainment Connected peripherals & printers TV Tablets Wearables (non-medical) Gaming Data storage Communications equipment Wireless infrastructure (3% of TI revenue) Wired networking Broadband fixed line access In addition, we sell calculators, which was about 1% of our revenue.”

Annual report 2025A · The company itself

“Table of Contents In addition, disruptions to the Company's business could result from the deployment of new cellular networks (e.g., "5G") by wireless carriers, which, due to potential interference with aircraft systems, could cause flights to be cancelled or diverted, which in turn could affect consumer perceptions of the safety of air travel.”

Annual report 2025A · The company itself

“For example, our Veeva CRM Engage Meeting application uses a purpose-built partner tool from Zoom Video Communications, Inc., which is critical to the application’s functionality.”

Annual report 2026A · The company itself

“We primarily serve customers across three main end markets: (1) data centers (including hyperscale/cloud, colocation, neocloud and enterprise), (2) communication networks and (3) commercial and industrial applications.”

Annual report 2025A · The company itself

“XC90 har fått en grundlig uppdatering inifrån och ut, vilket bland annat omfattar vår nya användarupplevelse med inbyggda intuitiva Google-tjänster, fullmatade med bra funktioner och brett tillgängliga.”

Annual report 2024A · The company itself

“Revenues Distribution revenues are generated from fees charged to network distributors, which include cable, DTH satellite, telecommunications and digital service providers, and streaming subscribers. The largest component of distribution revenue is comprised of linear distribution rights to our networks from cable, DTH satellite, and telecommunication service providers.”

Annual report 2025A · The company itself

“Webstep is a provider of IT consultancy services and offers expertise to solve demanding digitalization and IT projects in the private and public sector, in a number of different industries including banking, finance and insurance, public administration, agriculture and food production, IT and telecommunication, commerce and transportation.”

Annual report 2024A · The company itself

“T-Mobile stärker sin cybersäkerhet med Yubico T-Mobile US samarbetade med Yubico för att distribuera över 200 000 YubiKeys till sina anställda, leverantörer och auktoriserade återförsäljare.”

Annual report 2024A · The company itself

“Our mobile computing products primarily incorporate the Android™ operating system with 5 Table of Contents software extensions for the enterprise and support local-area and wide-area voice and data communications.”

Annual report 2025A · The company itself

“We also expect to drive growth by capitalizing on technology transitions occurring in the industry, including transitions to WiFi 7, the 5th generation mobile network (5G) and Android™ operating system in mobile computing and transitions in data capture to technologies involving 2D and 3D imaging and RFID, among others.”

Annual report 2025A · The company itself

“Certain of our offerings rely on intellectual property developed by, or licensed from, third parties, and we may not be able to maintain our relationships with such third parties or enter into similar relationships in the future on reasonable terms or at all. For example, certain of our devices are dependent on third parties’ continued development and support of operating systems and software application ecosystem infrastructures, and on such third parties’ approval of our implementations of their operating systems and associated applications.”

Annual report 2025A · The company itself

“We manufacture and market products to be used in spectrum bands already made available by regulatory bodies, including voice and data infrastructure, mobile radios, and portable or hand-held devices. Consequently, our results of operations could be positively or negatively affected by the rules and regulations adopted from time-to-time by the FCC, NTIA, or regulatory agencies in other countries.”

Annual report 2025A · The company itself

“Patent monetization campaigns have become increasingly aggressive, including those by patent holders for standardized technology, such as Wi-Fi and video and other standardized technology in PCs, who have sued in venues that allow injunctions despite commitments to license patents on fair and reasonable terms.”

Annual report 2025A · The company itself

“SmackDown is currently televised on Versant’s USA Network, and starting in 2026, certain UFC events will be simulcast on the CBS broadcast network as part of the Paramount+ agreement. Certain of our other programming is distributed on-demand via cable and satellite operators. We are responsible, directly or indirectly, for compliance with certain additional FCC regulations and statutory requirements applicable to programming distributed over television broadcast stations, cable and satellite, as well as for certain of our programming distributed via online platforms that has been televised via broadcast television, cable or satellite.”

Annual report 2025A · The company itself

“Changes in FCC regulations, and the ongoing reallocation of satellite spectrum for “5G” next generation wireless broadband use, could impact the availability of satellite transmission spectrum for video programming distribution, which could increase the transmission costs of certain of our programming and/or affect transmission quality and reliability.”

Annual report 2025A · The company itself