1. Capital Markets Day 2011 Market Area Central Europe and Eurasia NiklasSonkin

2. Market Area Overview Current Focus Stability and improvements in Baltics Growth in revenue, profits and market share in Croatia Establish Tele2 in all regions and continue to grow rapidly in Kazakhstan Explore geographical expansion opportunities in Central Europe and Eurasia July 2011

3. Baltics

4. MacroeconomicKPIs GDP Retail Sales CPI Inflation Unemployment Sources: Central Bank of Estonia,SEB Sweden, Central Bureau of StaticticsLatvia,SEBLithuania

6. 4G roll-out starts 2012

7. Technical upgrade (radio, core swap)

8. Increase of efficiency going forward

9. Focus on Smartphones and Data

11. Technical upgrade (radio, core swap)

12. Maintain high efficiency

13. Focus on Smartphones and Data

15. Increasefocus on B2B segment

16. Technicalupgrade (radio, coreswap)

17. Maintain high efficiency

18. Focus on Smartphones and Data

20. MacroeconomicKPIs GDP RetailSales CPI Inflation Unemployment Eurostat,Croatian bureau of statictics

21. Croatia – Market Facts Revenue Market Share EBITDA Market Share Customer Market Share

24. Continue to improve gross margins

25. Continue to protect the cost leadership and price leadership positions

26. Q1 2010: Transformation program commenced

27. Q2 2010: EBITDA break ahead of plan

28. Q2 2011: New marketing strategy launched

31. Kazakhstan

32. Kazakhstan

33. Macroeconomic KPIs GDP RetailSales CPI Inflation Unemployment Source: IHS Global Insight, Statistic Agency of Kazakhstan

35. High transmission prices

36. UMTS2100 licenses were issued to the existing GSM operators at a price of 25 MEUR each on January 2011

37. The fixed line market is dominated by Kazakh Telecom with 3.3 million lines

40. Marketing platform, Russia’s Mafia concept

41. Roaming

42. Network architecture and Roll-out

43. Procurement

44. HR

45. IT

46. Tele2Way and cultureTele2 Kazakhstan

47. All Regions Launched by Year-End Petropavl Astana Kostanay Pavlodar Oral Aktobe Semey Karagandy Oskemen Almaty Kyzyl-Orda Aktau Taraz Shymkent

49. TELE2 KZ reduced MTR with Kcell by 20%, from Nov 15, 2010

50. TELE2 KZ reduced MTR with Beeline by 15%, from Jan 1, 2011

53. The EBITDA margin for Tele2 Kazakhstan’s operation should reach break-even by 2H 2013.

54. Tele2 Kazakhstan is targeting a long-term mobile customer market share of 30 percent.

55. Long term profitability and ROCE are estimated to be in line with Tele2 Group targets.Long Term Guidance