Telia Company Results Presentation Deck

OPEX 11 OPEX excl. energy bridge Like for like growth - - Q4 21 Resources AMBITION 2021-2025 -0.9% Marketing Other Q4 22 Resource costs decreased despite lower pension refund vs. last year Marketing down due to efficiencies Other increased driven by misc. items (travel, properties etc.) OPEX excl. energy development In SEK billion, 2020 average FX rates, excl. Telia Carrier, R12 24.4 Q4 20 Q1 21 Q2 21 Q3 21 -1.1 Q4 21 Q1 22 OPEX R12 excl energy Q2 22 OPEX excluding energy to decline by at least SEK 2bn until 2023 and by SEK 4bn until 2025 Q3 22 23.3 Q4 22 OPEX excluding energy reduction to date of SEK 1.1 billion driven mainly by lower resource and IT costs

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