Telia Company Investor Day Presentation Deck

CASH FLOW TO SUSTAIN AND GROW BEYOND 2019 22 ● Convergence • Smart pricing Telia global FIGHT FOR GROWTH ● ● HOW SHOULD YOU HOLD US ACCOUNTABLE? PUSH FOR EFFICIENCY Structural reductions Cost smartness • Net OPEX reduction of 2 percent 2019- 2021 ● EXECUTION OF M&A Get/TDC NOK 800 million Bonnier Broadcasting SEK 600 million ● WISE INVESTMENTS USING OUR SCALE CAPEX coming down further ● BEST IN CLASS CASH MANAGEMENT SEK 2.4 billion remaining in working capital efficiencies

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