1. Capital Markets Day
Thomas Ekman, Market Area Director Nordic
December 12, 2012

2. Net sales EBITDA CapEx
Sweden 29% 30% 21%
• Build on mobile growth and 4G roll-out
coupled with household / corporate
fiber strategy
37 Tele2 Capital Markets Day 2012 * Figures represent contribution to group; YTD Q3 2012

3. What has happened since last CMD?
MOCN
38 Tele2 Capital Markets Day 2012

4. Operational performance
REVENUE Q3 2012 REVENUE
SEK MILLION
1% 3,500
9%
Mobile 3,000
11%
Fixed broadband
2,500
Fixed telephony
79% Other operations 2,000
Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2 2012 Q3 2012
Mobile Fixed broadband Fixed telephony Other operations
EBITDA EBITDA - CAPEX
SEK MILLION SEK MILLION
1,500 40% 1,000
30%
1,000 800
20%
500 600
10%
400
0 0%
Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2 2012 Q3 2012 200
EBITDA Mobile EBITDA Fixed broadband EBITDA Fixed telephony
0
EBITDA (%) Mobile EBITDA (%) Fixed broadband EBITDA (%)Fixed telephony Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2 2012 Q3 2012
39 Tele2 Capital Markets Day 2012

5. Two brands covering market demands
Discounter Value Champion
40 Tele2 Capital Markets Day 2012

6. Brands and positioning
High perceived quality
Low perceived price High perceived price
Low perceived quality
41 Tele2 Capital Markets Day 2012

7. High degree of bucket offerings in the market
Bucket offerings secure revenue
100%
80%
60%
40%
20%
0%
2004 2005 2006 2007 2008 2009 2010 2011 2012
Bucket revenue & periodic fees Non-bucket revenue
42 Tele2 Capital Markets Day 2012 Note: Postpaid residential

8. Hardware and data significant part of revenue
Revenue break down, total Postpaid Residential
Voice & SMS Data Hardware
43 Tele2 Capital Markets Day 2012

9. The importance of distribution increases
44 Tele2 Capital Markets Day 2012

10. Tele2 Business continues to grow
• Several new contracts in Q3
• Continued growth in CaaS
• Price leader in SME Mobile Revenue
Market Share
16.7%
45 Tele2 Capital Markets Day 2012

11. Benefits of Mobile Networks in JVs
Network cost / MB
Principle of JV Saving CAPEX & OPEX
100%
40% 90%
Tele2 saving 2011 2012 2013 2014 2015 2016 2017
If Tele2 would
JV's Capex 50% build own
& Opex
network • EDGE in 2G
Tele2 share
Capex & Opex
of JV's Capex
• 25 percent more 2G base stations
& Opex
• Most advanced mobile data technology
46 Tele2 Capital Markets Day 2012

12. Combined 2G & 4G network to improve
capacity and coverage Future LTE 1800 coverage
2G: MOCN finalization during
Q2 2013
4G: LTE 1800 roll-out to
improve capacity
LTE 800 roll-out to
improve coverage
Current 3G and 4G coverage
LTE 800 and LTE 1800
47 Tele2 Capital Markets Day 2012

13. 4G main source of data growth in Sweden
Jun-11 Jan-12 Jun-12 Sept-12
3G 4G
48 Tele2 Capital Markets Day 2012

14. What to expect from 4G hardware
• 4G router success
• Strong focus from all
manufacturers
• Multiple band support
49 Tele2 Capital Markets Day 2012

15. Apps supporting our access model
Minutes of Use
Thousands
60
50
40
30
20
10
0
+46 May-12 Jun-12 Jul-12 Aug-12 Sep-12
50 Tele2 Capital Markets Day 2012

16. Tele2 Business and Residential: fixed strategy
Tele2 Business provides last
mile access for B2B customers
Tele2 Residential focuses on
household sales in Open
Access networks
51 Tele2 Capital Markets Day 2012

17. How we operate Open Access networks
Municipal
Private
No open access
network
Tele2 will reach approx. 600,000+
households on 3Play in Open Access
Networks by the end of 2013
52 Tele2 Capital Markets Day 2012

18. Summary
• Comviq and Tele2 brands positioned for
differentiation
• Strong demand for bucket pricing
• Strong demand for smartphones
• Handset and data significant part of
revenue
• High growth in 4G, moderate growth in 3G
• Fixed services generate a strategic and
financial value
53 Tele2 Capital Markets Day 2012

19. Net sales EBITDA CapEx
Norway 11% 3% 11%
• Roll out own network
• Focus on bucket price subscriptions
54 Tele2 Capital Markets Day 2012 * Figures represent contribution to group; YTD Q3 2012

20. What has happened since last CMD?
55 Tele2 Capital Markets Day 2012

21. Operational Performance
REVENUE Q3 2012 REVENUE
SEK MILLIONS
6%
1,500
Mobile
1,000
500
Fixed
94% 0
Q4-11 Q1-12 Q2-12 Q3-12
Mobile Fixed Other
EBITDA EBITDA – CAPEX
SEK MILLIONS SEK MILLIONS
120 50% 0
70 -50
20 0%
-100
-30
-80 -50% -150
Q4-11 Q1-12 Q2-12 Q3-12
-200
EBITDA Mobile EBITDA Fixed Telephony
-250
EBITDA (%) Mobile EBITDA (%) Fixed Telephony
Q4-11 Q1-12 Q2-12 Q3-12
56 Tele2 Capital Markets Day 2012

22. Brands and positioning
High perceived quality
Low perceived price High perceived price
Low perceived quality
57 Tele2 Capital Markets Day 2012

23. Strong focus on network roll-out
Number of integrated sites
1,400
1,200
1,000
800
600
400
Good coverage
200
Coverage in major cities 0
Coverage within Q1-Q2 2013
75% population coverage by mid 2013
58 Tele2 Capital Markets Day 2012

24. Regulatory environment
Frequency distribution
Possible auctions of 800, 900 and 1800 MHz in Q1 2013
14%
Successful acquisition of 2*5 MHz in the 2.1 GHz band
47%
Spectrum portfolio 39%
Operator 800 MHz 900 MHz 1800 2100 2600
MHz MHz MHz
Telenor NetCom Mobile Norway
Telenor 2x15 2x10 2x20 2x40
NetCom 2x15 2x16.4 2x20 2x20
Tele2 2x5 2x20
59 Tele2 Capital Markets Day 2012

25. Summary
• Repositioning of brand portfolio
• Strong focus on network roll-out
60 Tele2 Capital Markets Day 2012