Deutsche Telekom "Will a DT/TMUS merger really go ahead?" (Buy) Tang

研报英文原文证据摘录

Deutsche Telekom "Will a DT/TMUS merger really go ahead?" (Buy) Tang

a Keuangan (OJK). Neither this report nor any copy hereof

may be distributed in Indonesia or to any Indonesian citizens except in compliance with applicable Indonesian capital market laws and regulations. This report is

not an offer of securities in Indonesia and may not be distributed within the territory of the Republic of Indonesia or to Indonesian citizens in circumstance which

constitutes an offering within the meaning of Indonesian capital market laws and regulations.

The disclosures contained in research documents produced by UBS AG, London Branch or UBS Europe SE shall be governed by and construed in accordance with

English law.

UBS specifically prohibits the redistribution of this document in whole or in part without the written permission of UBS and in any event UBS accepts no liability

whatsoever for any redistribution of this document or its contents or the actions of third parties in this respect. Images may depict objects or elements that are

protected by third party copyright, trademarks and other intellectual property rights. © UBS 2026. The key symbol and UBS are among the registered and

unregistered trademarks of UBS. All rights reserved.

Global Wealth Management Disclaimer

You receive this document in your capacity as a client of UBS Global Wealth Management. This publication has been distributed to you by UBS Switzerland AG (regulated by

FINMA in Switzerland) or its affiliates ("UBS") with whom you have a banking relationship with. The full name of the distributing affiliate and its competent authority can be

found in the country-specific disclaimer at the end of this document. UBS may utilise artificial intelligence tools (“AI Tools”) in the preparation of this document.