Telia Company Results Presentation Deck

Operational free cash flow Operational free cash flow bridge Reported currency, in SEK billions 14 - - 1.4 Q4 21 EBITDA Cash CAPEX OUTLOOK 2022 -1.0 Intr./tax Other NWC 0.4 Q4 22 Tax lower due to quarterly phasing Other was negative due to lower pension refund Elevated inventory levels and a lower vendor financing impacted NWC Operational free cash flow development Reported currency, in SEK billions, R12 14 12108 6 4 2 0 - Q4 20 Q4 21 Q2 21 Operational free cash flow Minimum dividend Cash flow declined 2022 due to working capital and cash CAPEX Both the operational free cash flow and the structural part of operational free cash flow are expected to be below the minimum dividend commitment of SEK 7.9 billion 6.5 Q2 22 Structural part 5.7 Q4 22

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