Presentation Market Area Noric from Tele2s Capital Markets Day 2009

1. NORDIC

2. MARKET AREA NORDIC
Thomas Ekman
Head of Sales & Marketing Residential, Sweden

3. INTRODUCTION
Market Area Nordic
Represents 36 percent of total revenue Q2 2009
Strong cash flow generation – EBITDA SEK 764 million and Capex
SEK 110 million in Q2 2009
Short- to medium-term focus & activities:
Sweden Back to growth
Norway Build-out own infrastructure

4. SWEDEN
Back to growth

5. TWO BRANDS

6. OPERATIONAL PERFORMANCE
Mobile SEK million
4 500
REVENUE
Solid development despite negative
effects due to MTR cuts 3 000
Broadband
Realignment to new infrastructure 1 500
Fixed 0
Capitalize on customer stock 2008Q1 2008Q2 2008Q3 2008Q4 2009Q1 2009Q2
SEK million SEK m illion EBITDA - CAPEX*
EBITDA
1 000 900
600
500
300
0 0
2008Q1 2008Q2 2008Q3 2008Q4 2009Q1 2009Q2 2008Q1 2008Q2 2008Q3 2008Q4 2009Q1 2009Q2
*Purged from LTE licence investments (Q208)

7. MOBILE SERVICES TOTAL REVENUE
Fixed &
Broadband
31%
Net sales Q209: 1 969 MSEK
EBITDA Q209: 620 MSEK
EBITDA margin Q209: 31 percent
Mobile
Operating Cash-Flow Q209: 570 MSEK 69%
SEK million
2 500 Net sales EBITDA EBITDA margin 40%
35%
2 000
30%
1 500 25%
20%
1 000 15%
10%
500
5%
0 0%
Q1 Q2 Q3 Q4 Q1 Q2
2008 2008 2008 2008 2009 2009

8. PREPAID

9. PREPAID
Prepaid shows stable revenue, strong EBITDA and increasing market share
In 2006, prepaid accounted for >50 percent of Tele2 Sweden’s mobile revenue
Today it accounts for approx. 30 percent and half of the EBITDA contribution
Focus
Maintain strong margins
Keep the big cities and grow in top 20 cities
Further strengthen price position
SEK million
Revenue EBITDA EBITDA % Other
800 60% Telenor 2,6%
700 8,0%
50%
600
40% Comviq
500
400 30%
(Tele2)
44,8%
300
20%
200
10%
Telia
100 44,6%
0 0%
Q1 Q2 Q3 Q4 Q1 Q2 Source: PTS H2 2008
2008 2008 2008 2008 2009 2009
Source: PTS

10. POSTPAID

11. POSTPAID RESIDENTIAL
Postpaid share of voice revenue and EBITDA are increasing. Postpaid has a
lower margin than prepaid, and thereby affects the overall mobile margin
High-end terminals attract high ARPU customers
0 SEK 50 SEK 100 SEK 150 SEK 200 SEK
SEK/month
350 339
302
300 Other 3
267 4,2% 10,9%
250
219
206
Tele2
200
Telia 21,7%
40,9%
150
100
Telenor
50 22,4%
Source: PTS H2 2008
0
ARPU per customer with terminal
installment plan

12. POSTPAID RESIDENTIAL
Focus:
Secure long-term revenue growth and increased cash flow contribution
Strengthen price position: provide the Best Deal
Revenue EBITDA EBITDA margin
800 SEK million 45%
700 40%
600 35%
30%
500
25%
400
20%
300
15%
200 10%
100 5%
0 0%
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
2007 2007 2007 2007 2008 2008 2008 2008 2009 2009

13. POSTPAID BUSINESS Other
3
2,6%
Tele2
4,8%
Fastest growing carrier on Swedish Business market for two 18,8%
consecutive years
Decreasing MoU due to economic downturn affecting corporate
customers
Focus : Telia Telenor
Concentrate sales activities on high ARPU segments, such 52,8% 21,0%
as the virtual switchboard market
Continue to improve our quality perception
Source: PTS H2 2008
Revenue EBITDA EBITDA margin
450 45%
400 40%
350 35%
300 30%
SEK million
250 25%
200 20%
150 15%
100 10%
50 5%
0 0%
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
2007 2007 2007 2007 2008 2008 2008 2008 2009 2009

14. MOBILE INTERNET
Mobile Internet Prepaid Mobile Internet Postpaid
”Test av bästa mobila bredbandet”
”Snabbaste Turbo-3G nätet”
Expressen, 8/7-2009
Aftonbladet, 8/7-2009

15. MOBILE INTERNET
48 000 new customers H109 adding up to a 218 000 customer base
Mobile Internet GM1 is approx. 50. Grow customer base to gain positive EBITDA
ARPU has increased by approx. 12 percent Q209 vs Q208, despite fierce competition
Launch of Mobile Internet prepaid in May 09. Intake has been strong and we are the
market leader
Focus
Grow Mobile Internet prepaid and postpaid
Increase Mobile Internet profitability
Revenue EBITDA EBITDA-margin
Other
100 250% 3,5% 3
Tele2 21,2%
80 200%
19,7%
60 150%
40 100%
20 50%
0 0%
Telenor
-20 -50%
16,8%
-40 -100%
-60 -150%
-80 -200% Telia
38,9%
-100 -250%
Q1 Q2 Q3 Q4 Q1 Q2
2008 2008 2008 2008 2009 2009 Source: PTS H2 2008

16. PRICE POSITION
Further strengthen our price position by keeping
using Frank
The customer price perception is today heavily
connected to both tariffs and the deal on the
mobile phone
We will provide the best deal!

17. DISTRIBUTION STRATEGY
Comviq is sold in more than 19 000
outlets throughout Sweden
We will further develop strong prepaid
distribution with Mobile Internet prepaid
(ICA, Claes Olsson mm)
We will keep developing our multi-
channel sales strategy in order to
spread the risks

18. OUTLOOK
Tele2 will continue to target higher market share in the postpaid
segment, which in the longer term will lead to:
Higher customer intake
Improved ARPU
Lower churn
Resulting in
Higher customer lifetime value
In the short term, this strategy will lead to higher total acquisition
costs
Resulting in
EBITDA margin towards 30 percent in 2010

19. Q&A

20. SUMMARY
Clear price position, deliver expected quality and strong brand – providing
the best deal
Distribution, multi-channel sales strategy to increase sales and ARPU
levels
Comviq holds the number one position in the prepaid market
Tele2 Sweden will continue to invest in high-value postpaid customers to
secure a long-term high cash flow