Telia Company Mergers and Acquisitions Presentation Deck

BACKGROUND AND RATIONALE GRADUALLY REDUCED INTEREST IN TURKEY TURKCELL HOLDING STRUCTURE CHALLENGING CORPORATE GOVERNANCE Telia Company has had no direct ownership interest in Turkcell since September 2017 when it completed the 14% direct stake divesture, when we also made it clear we were not long term owners • Turkcell and Telia Company jointly owned the holding company Fintur, which was dissolved in 2019 Telia Company has had one seat out of seven at the Turkcell board, with limited influence By divesting the 47.1% interest in Turkcell Holding Telia Company completes its exit from Turkey ● ● ● ● ● ● ● Turkcell Holding is a privately held holding company owned by Cukurova, LetterOne (jointly 52.9%) and Telia Company (47.1%) Telia Company's stake is illiquid as Turkcell Holding is not a publicly traded company Turkcell Holding has no other business besides owning Turkcell shares The governance of Turkcell Holding has been challenging among its three owners. Challenges have mainly related to: How to vote at Turkcell AGMs including dividend Potential decision to sell assets and decide on Turkcell Holding dividends If and how to wind up the company ● ● ● Turkcell Holding owners have had a shareholders agreement and the right of first refusal, meaning that shares cannot be sold without acceptance from the other owners

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