Telia Company Results Presentation Deck

Efficiency realization to accelerate What we said TRANSFORMING OUR COST BASE Main cost reduction drivers MANUAL WORK MANY PRODUCTS COMPLEX IT ANALOGUE CUST. INTERACT. MASS COMMUNICATION EXPANDING OVER HEAD NON-DATA DRIVEN R = Resource costs s Sales & Marketing O Other OPEX AUTOMATED WORK FEW PRODUCTS MODERN AND SIMPLIFIED IT DIGITAL CUST. INTERACT TARGETED COMM. REDUCED OVER HEAD DATA DRIVEN Ⓡ30 ✓ ✓ ✓ ✓ Transformation driven OPEX reduction to 2023 SEK in billions Resources Sales & Marketing Inspire Connect Transform Deliver Other OPEX STRATEGY UPDATE 29 JANUARY 2021 2BN Total OPEX reduction by 2023 Target reduction in resources of which 1k in 2021 Restructuring costs to increase by around SEK 0.5 billion per year *OPEX is defined indirect costs, enduding COGS (such as network, equipment and content) OPEX to be reduced by SEK 2bn by 2023 and SEK 4bn by 2025 Target reduction in resources of which 1k in 2021 Restructuring costs to increase by around SEK 0.5 billion per year Where we are now 2020 Resources IT Energy Cloud OPEX development In SEK billions, like for like growth Effici- Head- encies winds 2021 Inspiring customers -2.0 Connecting everyone 2022 Transforming to digital 2023 2023 and 2025 OPEX reduction targets reconfirmed Reduction of SEK 0.3bn realized despite significant headwinds Workforce reduced by >1k in 2021, targets of similar reductions 2022-23 IT savings of SEK 0.3bn in 2021 from IT and vendor consolidation Savings to gradually increase, headwinds expected to reduce Delivering sustainably 31

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