Telia Company Investor Day Presentation Deck

OPEX HAS BEEN TAKEN DOWN BUT MORE TO DO OPEX COST BASE DEVELOPMENT Growth in % -1% -2% -3% 50 2016 2017 -2% 2018 OPEX efficiencies generated over several years mainly from process optimization across the group, leading to lower resource costs CONTINUOUS FINE-TUNING AND DEFINED PROJECTS HAVE DELIVERED EFFICIENCIES... Business transformation 000 st a Cost 2018 M&A synergies ...AND CREATED A FOUNDATION FOR FURTHER EFFICIENCY REALIZATION

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