Telia Company Investor Day Presentation Deck

GROUP HIGHLIGHTS - Q4 2020 3 * ** SEK billion Service revenues Mobile subscription revenues Adjusted EBITDA EBITDA-cash CAPEX** Operational Free Cash Flow YTD Q4 Q4 2020 19.8 7.8 7.5 3.3 12.1 LFL= like for like Adjusted EBITDA less cash CAPEX excluding licenses and spectrum % Change reported +4.0% -4.5% -5.5% -18.6% -3.8% % Change LFL* -2.1% -1.1% -6.6% ● ● ● Comments COVID-19 impacted service revenues negatively by ~SEK 400 million, and EBITDA by ~SEK 200 million Excluding COVID-19 impacts, service revenues were in-line with last year and EBITDA declined by ~4% LFL A non-recurring pension benefit in the prior year negatively impacted the EBITDA comparison by ~1% LFL Cash CAPEX increased by SEK 0.3 billion due to network modernization

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