Telia Company Investor Day Presentation Deck

FOR SUBSTANTIAL VALUE CREATION Inspire our customers REVENUE DEVELOPMENT 2021-2023 62 Low single digit growth 2021-23 Bustrative, excl Tela Camer Service Less burden ahead Legacy and TV to recover faster than roaming and ad revenues COVID-19 recovery improvem ARPU improve mobiln experience ind 5G moneszation Reduce chum and increase upsell potential Convergence increase share of walet Now revere stans INVESTOR BRIEF 29 JANUARY 2021 Service revenue ambition Low single digit service revenue growth CAPEX DEVELOPMENT 2021-2023 Main components and benefits MOBILE NETWORK Connect everyone FIXED NETWORK PRODUCT DEV/IT Network modernization 5G roll-out Partly replacing coverage capacity investments Copper legacy shut down Continued footprint growth Selective fiber deployment with partners Modemure and simpaty IT Convergence capabilities Digtelize customer joumeys platforma Strengthen analytics capab Coverage Footprint Customer base OPEX reduction Cust experience Increased CAPEX 2021-not above past levels Excl Tela Carrier Connect Transform 2010 2020 2023 Mobile NW Fixed NW *Prod devilT Other CAPEX/Net sales Investment program subject to rigorous benchmarking and focus on returns INVESTOR BRIEF 29 JANUARY 2021 Cash CAPEX to increase 2021 Return to 15% of net sales 2023 STRATEGY UPDATE 6 01 5 4 3 2 1 0 Transform to digital 2bn OPEX reduction by 2023 1bn CAPEX efficiency by 2023 OPEX 3BN Trans- formation by 2023 2bn OPEX reduction to 2025 CAPEX 5BN 1bn 4bn Trans- formation by 2025 SEK 2bn lower OPEX by 2023 SEK 4bn lower OPEX by 2025 Plus SEK 1bn CAPEX efficiency 29 JANUARY 2021 Inspire Connect Transform Deliver Deliver sustainably SERVICE REVENUES Low single digit growth in stable fx excl. Telia Carrier ADJUSTED EBITDA Low to mid single digit growth in stable fx excl. Telia Carrier CASH CAPEX Return to around 15% of net sales by 2023 (excl. Telia Carrier and license and spectrum fees) Low single digit serv. rev. growth Low to mid single digit adj. EBITDA growth

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