Telia Company Results Presentation Deck

CASH CAPEX 15 14 13 12 Cash CAPEX development Reported currency in SEK billion, excluding licenses and spectrum fees, R12 Q2 20 Q3 20 OUTLOOK Q4 20 Q1 21 Q2 21 13.4 • Cash CAPEX R12 to net sales at SEK 13.4bn or 15.1% • Cash CAPEX to gradually increase going forward • Main risk relate to COVID-19 delays and supply chain issues ● Cash CAPEX by type Reported currency in SEK billion, excluding licenses and spectrum fees ● 3.4 Q2 20 3.0 4.2 Q3 20 Q4 20 Mobile NW ■Fixed NW 2.8 Q1 21 Prod dev/IT 3.4 • Increase in mobile network activities related to modernization and 5G but delayed impact on cash CAPEX Decline in fiber related investments in Sweden Slight increase in prod dev/IT due to transformation related investments 2021: Around SEK 14.5-15.5bn (excl. Telia Carrier and license and spectrum fees) 2023: Return to around 15% of net sales by 2023 (excl. Telia Carrier and license and spectrum fees) Q2 21 ■ Other

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