Telia Company Results Presentation Deck

OPEX 12 OPEX bridge Like for like growth - - Q1 21 Resources -3.0% AMBITION Marketing Other Q1 22 Resource cost reduced by SEK 124m Marketing reduced by SEK 51m from efficiencies IT savings of SEK 81m offset by higher energy costs of SEK 80m OPEX development In SEK billion, based on 2020 average FX rates and excl Telia Carrier 25.6 24.4 Q4 20 Q1 21 Q2 21 OPEX R12 -0.5 Q3 21 Q4 21 OPEX R12 excl energy OPEX 2021-2025: OPEX to decline by SEK 2bn until 2023 and by SEK 4bn until 2025 12 25.1 23.7 Q1 22 OPEX reduction to date of SEK 0.5bn driven by lower resource and IT costs partly offset by higher energy expenses Excluding energy OPEX declined SEK 0.7bn

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