Telia Company Results Presentation Deck

EBITDA GROWTH DESPITE REVENUE PRESSURE 15 SERVICE REVENUE DEVELOPMENT Like for like growth, external service revenues -1.7% Q4 18 SWE FIN NOR DEN LIT EST LAT Telia Other Q4 Carrier 2019 • Sweden down due to PSTN and fiber OTC Pressure on PSTN in Finland and interconnect Norway decline related to B2C mobile. ● EBITDA DEVELOPMENT Like for like growth, excluding adjustment items and IFRS 16 Q4 18 SWE FIN NOR DEN LIT EST LAT Telia Other Q4 Carrier 2019 ● ● +4% ● Strong Sweden due to lower OPEX Norway impacted by one-off items Revenue mix and lack of efficiencies in Finland.

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