Analyst & Journalist Briefing 2014

1. 2SUM IT UP
Mats Granryd, President and CEO Tele2 Group
Allison Kirkby, Group CFO

2. ROCE*
Strength in our core, funding future growthContinuing operations, not FX adjusted
Greenfield markets equals NL, KZ & HR. Challenger markets equals all other continuing operations *Normalized
26.1%
26.6%
27.7%
16.2%
14.8%
14.8%
23.2%
22.9%
23.7%
2012
2013
YTD Sep 2014
EBITDA margin
Challenger markets
Greenfield markets
Total
15.2%
16.2%
19.3%
1.9%
2.0%
2.2%
10.5%
11.0%
12.3%
2012
2013
YTD Sep 2014
Challenger markets
Greenfield markets
Total
2

3. Dividend paid
Net debt & Leverage
2.8
12.8
14.9
7.2
7.9
0.27
1.14
1.36
1.20
1.32
0.00
0.25
0.50
0.75
1.00
1.25
1.50
1.75
2.00
0.0
2.5
5.0
7.5
10.0
12.5
15.0
17.5
20.0
2010
2011
2012
2013
YTD Sep 2014
Proforma net debt
Proforma net debt / EBITDA
Strong Balance Sheet supporting progressive DividendTotal operations, not FX adjusted
BSEK
Leverage
BnSEK
1.70
2.67
2.89
3.16
1.96
0.88
9.33
2.89
12.47
2.6
12.0
5.8
15.6
2.0
2010
2011
2012
2013
2014
Ordinary
Extraordinary/Redemption
3

4. 5 Year TSR of more than 200%
Total Shareholder Return
SEK
0
50
100
150
200
250
Jan-09
Jul-09
Jan-10
Jul-10
Jan-11
Jul-11
Jan-12
Jul-12
Jan-13
Jul-13
Jan-14
Jul-14
T2 TSR
Eurostoxx Telecom (rebased)
4

5. Note: Guidance excludes Tele2 Norway
Reiteration of guidance 2014
Net sales
(SEK billion)
EBITDA
(SEK billion)
24.8 –25.2
5.7 –5.8
CAPEX
(SEK billion)
3.5 –3.8
5

6. REASONS2
BELIEVE
6

7. Lithuania
The Netherlands
Sweden
Tele2: Monthly average data usage per device
20-200 MB
200-350 MB
350-1,800 MB
0
1
2
3
4
5
6
7
MB
Year
7

8. Tele2’s Way2 Win
The Tele2 Way
Where we focus
We are challengers, fast-movers and will always offer our customers what they need for less
We will be champions of customer value in everything we do
Mobileaccess is our core business
Europe and Eurasia are our markets
Residential and Business
How we win
Focused Technology Choices
Value Champion
Step-Change Productivity
Winning People & Culture
Vision
Mission
8

9. THEEND
Coffee is now served in the Atrium