Slide 1: Tele2 Interim Report Third Quarter 2025
Tele2 Interim Report Tele2’s rapid transformation continues “With cost discipline now embedded in our culture, we start focusing more on growth.” Jean Marc Harion, CEO Tele2 End-user service revenue: Underlying EBITDAaL: Equity free cash flow: 1 8 SEK 2 Bom 11 Financial highlights Efficiencies and b
Slide 2: Q3 2025 Highlights
• 2% organic growth in end-user service revenue • 11% organic growth in underlying EBITDAaL boosted by transformation • Strong equity free cash flow of 1.8bn • Workforce reduced by >600 positions • 99.9% 5G population coverage in Sweden • Creating the first pan-Baltic towerco • Named one of the Worl
Slide 3: Transformation Continues to Deliver
• Transformation continues to deliver 3 1) Organic growth rate (except for EFCF) • 2) Excluding spectrum and leases Sweden Business in Q3 • EUSR growth of 5% • Solid growth in Mobile • Strong growth in Solutions The Group in Q3 • EUSR growth of 2% driven by the Baltics and Sweden Business • Underlyi
Slide 4: Sweden
• sweden
Slide 5: Sweden Consumer: Further Improvements in Mobile & TV
• Mobile prepaid Fixed broadband EUSR SEKm, YoY growth Digital TV EUSR SEKm, YoY growth Mobile postpaid Sweden Consumer: Further improvements in Mobile & TV Mobile EUSR SEKm, YoY growth 5 +5% +3% -4% -6% -10% -9% -8% Q3 highlights • Mobile end-user service revenue (EUSR) grew 3% due to 4% postpaid g
Slide 6: Sweden Consumer: Improving Mobile ASPU
• Sweden Consumer: Improving mobile ASPU RGU base & QoQ (‘000s) Fixed broadband RGU & ASPU Digital TV RGU & ASPU ASPU growth YoY Mobile postpaid RGU & ASPU Q3 highlights • Solid volume growth in Mobile postpaid despite continued slow handset market. ASPU growth of 1% (2% excl. Tele2 fair value accou
Slide 7: Sweden Business: Strong Topline Growth
• Fixed Solutions Mobile Mobile ASPU YoY growth (excl. IoT) End-user service revenue SEKm, YoY growth Sweden Business: Strong topline growth Mobile RGU & net intake Base & QoQ excl. IoT (‘000s), YoY growth Q3 highlights • Mobile EUSR growth of 5% driven by IoT and solid RGU growth among large custom
Slide 8: Sweden Financials: 8% EBITDAaL Growth
• Consumer Underlying EBITDAaL & margin SEKm, YoY growth Operating cash flow and cash conversion, LTM, SEKm Business Sweden financials: 8% EBITDAaL growth End- user service revenue SEKm, YoY growth Q3 highlights • EUSR grew by 1% driven by Business while Consumer were stable despite continued headwi
Slide 9: Baltics
• Baltics
Slide 10: Baltics Financials: 20% EBITDAaL Growth
• Underlying EBITDAaL & margin SEKm, YoY growth Operating cash flow and cash conversion, LTM, SEKm Latvia Baltics financials: 20% EBITDAaL growth End-user service revenue SEKm, YoY growth Lithuania Q3 highlights • Continued solid EUSR growth of 7% driven by both ASPU and postpaid volume across marke
Slide 11: Baltics KPIs: ASPU Growth Across Markets
• Postpaid RGU base & QoQ (‘000s) Latvia – Mobile RGU & ASPU ASPU growth YoY Baltics KPIs: ASPU growth across markets Estonia – Mobile RGU & ASPU Q3 highlights • Mobile postpaid increased by 21,000 RGUs driven by Latvia and Lithuania • Mobile prepaid declined by 8,000 RGUs • Blended organic ASPU gro
Slide 12: Financial Overview
• Financial overview
Slide 13: Group Results
• Group results Comments • Underlying EBITDA grew mainly driven by end-user service revenue growth in the Baltics and sharp cost control across operations • Items affecting comparability were mainly driven by redundancy costs related to workforce reductions • Net interest and other financial items d
Slide 14: Group Cash Flow
• Group cash flow 14 Comments • Capex paid decreased due to reduced investments, partly driven by successful prioritisation and partly by the deferral of planned investment to 2026 • Changes in working capital were mainly impacted by reduced liabilities • Net financial items paid excl. leasing decre
Slide 15: Leverage at 2.0x
• Leverage at 2.0x Comments • Economic net debt decreased by SEK 3.3bn compared to year-end 2024 driven by the cash generated in the business, exceeding the payout of the first tranche of the ordinary dividend • Leverage of 2.0x was below the lower end of the target range of 2.5-3.0x. Adjusted for t
Slide 16: 2025 Guidance Updated
• End-user service revenue1 Underlying EBITDAaL1 Capex to sales2 2025 guidance 1) Organic growth rate • 2) Excluding spectrum and leases 16 2025 guidance updated Low single-digit (unchanged) Slightly above 10% (unchanged) ~12% (previously ~13%)
Slide 17: You Are Number 1
• You are number 1. • We are Tele2.