1. Capital Markets Day 2011 Driving Performance in Tele2 Cecilia Lundin

2. Our Present Situation Workforce divided by gender Workforce divided by age

4. Leadership Index = 80 (*Benchmark: 69)

5. ESI = 94 (*Benchmark: 82)

6. Tele2Way Index = 81 (Scale 0-100)* Benchmark: 200.000 answers from 50 global service companies in Netsurveys database Engagement = Clarity + Energy

7. Our Performance Processes Why? What? How? “Great Placeto Work” Leadership Performance Driven Culture Performance Management Talent Management Reward&Recognition Better Business Performance = “Best Deal” Excellent EmployerBranding Increased Shareholder Value Tele2 Way

8. Performance and Compensation HOW WHAT THE RIGHT PAY INFORMATION Base Salary Short Term Incentives Long Term Incentives

11. Measured over a 3-year periodParticipants: Management and Key Employees EBITDA EBITDA-Capex +/- change in Working Capital TSR Tele2 >0 20%< ROCE ≤24 TSR vs Peer Group >60% Company Targets 100% Company Targets

13. Tele2’s Way Forward:Our Wanted Position CUSTOMERS We shall provide the Best Deal in each country we operate in! EMPLOYEES We shall be considered “A Great Place to Work” by our employees! SHAREHOLDERS We shall have the best TSR (Total Shareholder’s Return) within our peer group! 1 Customers 2 Employees Shareholders 3