Telia Company Results Presentation Deck

Cash flow to cover dividend Adjusted EBITDA Cash CAPEX* Other Structural part Working capital 2020 30.5 * Excl. spectrum and licenses -13.3 -8.2 8.9 3.2 Operational free cash flow 12.1 2021 29.9 -14.4 -8.1 7.4 3.0 10.4 = Increased y-o-y cash flow contribution = = Decreased y-o-y cash flow contribution 2022 2023 Comments || = - Inspiring customers Connecting everyone Service revenues and efficiencies to drive EBITDA Transforming to digital CAPEX to be fairly flat 2022 and come down in 2023 Other expected to remain fairly unchanged Structural part to cover minimum dividends in 2022- 2023 Contribution from WC gradually to come down Delivering sustainably 33

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