Telia Company Results Presentation Deck

OPERATIONAL FREE CASH FLOW - Q4 2020 10 OPERATIONAL FREE CASH FLOW TREND SEK billion, rolling twelve months 14 12 10 8 6 4 2 0 SEK 12.1 BILLION Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20 Q3 20 Q4 20 Repayment of lease liabilities OPERATIONAL FREE CASH FLOW Q4 ● SEK billion ● 1.0 Q4 2019 -0.8 +1.9 3.3 -0.3 -0.2 EBITDA Interest Working CAPEX less & tax capital leasing* 0.0 Other 2.9 Lower EBITDA and higher lease repayments Lower interest partly compensated for higher taxes paid • Strong benefit from working capital Q4 2020

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