Telia Company Results Presentation Deck

OPERATIONAL EXPENSES 13 -2.9% ● Q3 20 OPEX development Operational expenses, y-o-y, like for like growth 2.9% Q4 20 -3.0% Q1 21 0.0% Q2 21 1.1% Q3 21 • SEK 200m cost efficiencies from workforce and IT offset by pension phasing and inflationary pressure OPEX lower by 0.7% YTD Impact from transformation and resource reduction increasingly visible ahead Q3 20 Resources OPEX bridge Like for like growth To reduce OPEX by SEK 2bn until 2023 and by SEK 4bn until 2025 +1.1% Marketing Other Q3 21 • Resource efficiencies more than offset by pension phasing, salary inflation and customer support in Sweden • Other reduction from lower IT costs

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