I assume that both sets of lights have been operated from this switching point before? I ask because these wires could also be part of a circuit where two switches operate the same lights, as on a stair.
I would test first to find out which of the three wires is live. It should be the red one, but it is always best to check before doing anything with mains electricity. Use a meter or one of those testing screwdrivers that has a neon light in. Make sure you switch the power off before going further, and test again to make sure.
Whichever wire is live should go to the connection marked com on one switch and a short piece of the same coloured wire should be used to link the com of switch 1 to the com of switch 2.
One of the other wires goes to the way 1 terminal on one switch and the other wire goes to the way 1 connection on the other switch.
The way 2 connections remain unused.