Telia Company Investor Day Presentation Deck

A STRONGER TELIA COMPANY EMERGING 2018 (SEK BILLION) EBITDA (margin) 21 EBITDA-CAPEX* (cash conversion) TDC Norway GET/ TDC NORWAY 1.8 43.4% 0.8 48.1% GET/TDC-NOK 800 MILLION CASH FLOW SYNERGIES END OF 2021 I I I | I BONNIER BROADCASTING 1.1** 13.8% 1.0 *** 91.3% SYNERGY BREAKDOWN * Excluding licenses ** Assuming same depreciation in 2018 as in 2017 *** Assuming EBITA equals EBITDA-CAPEX FULL RUN-RATE SYNERGIES (PER YEAR) 1.3 Broadcasting 1.4 COMBINED PRO FORMA 4.2 (prev. 3.5) > 32.5% 3.3 (prev. 2.7) 77.7% BONNIER BROADCASTING - CASH BONNIER FLOW SYNERGIES OF SEK 600 MILLION END OF 2022

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