Telia Company Results Presentation Deck

NET DEBT AND LEVERAGE DECREASED 21 NET DEBT DEVELOPMENT Continuing and discontinued operations, SEK billion and leverage ratio 2.71x 88.1 -7.2 3.0 1.0 Q4 19 Operations Cash Buy- CAPEX backs -2.6 Green hybrid 1.5 FX & other = Leverage ratio (multiple, rolling 12 months including a full 12 months of Bonnier Broadcasting) 2.62x 83.7 Q1 20 • Net debt decreased driven by operations and EUR 0.5 billion green hybrid bond issuance ● ● ● ● Buy-backs finalized (in total 6% of shares bought back) FX movements increased leverage First dividend tranche of SEK 3.7 billion in April Bonnier Broadcasting earn-out of maximum SEK 0.8 billion The remaining 50% (SEK 0.2 billion) in dividend from Turkcell Holding

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