Slide 1: Second Quarter
Slide 2: Solid quarter with disciplined focus and delivery
Solid quarter with disciplined focus and delivery SEK (YoY growth) EUSR Underlying EBITDAaL Capex ex. spectrum and leases EFCF Q2 21 4.8bn (2%) 2.4bn (8%) 0.7bn 1.3bn H1 21 9.5bn (0%) 47bn (7%) 1.4bn 2.1bn The Group — EUSR returned to 2% growth with Sweden stabilized and continued growth in the Balt
Slide 3: Sweden
SWEDEN
Slide 4: Sweden Consumer
Sweden Consumer RGUs & net intake - core and legacy ASPU year-on-year growth End-user service revenue (%)* y services (th d) (SEK millio 0 h % +4.0% + 36 4 7 4% +1% 2% +14 % 0% 41.4% 2% A% +11 40 40 6% 8% 14% 7% 10% 12% Q2'20. Q3'20 «0420. Q1'21 Q2'21 Q2'20 Q3'20 04'20 Q1’'21 Q2°21 Q2'20 03'20 0420
Slide 5: Sweden Business
Sweden Business Mobile ASPU ser service revenu (SEK) -8% -9% +n +18 140 ——_—-__,__* Q2°20 Q3'20 Q4°20 Q1’21 Q2’21 Q2’20 Q3'20 Q4’20 Q1'21 Q2’21 Q2°20 Q3'20 04°20 Q1°21 Q2’21 Hi Mobile MBFixed [Solutions 2 highlights — Mobile net intake of 10,000 driven by implementation of new contracts in Large Ent
Slide 6: 100% 2,000 90% 80% 1,500 70% 60% 1,000 50% 40% 30% ,500 20% 10%
100% 2,000 90% 80% 1,500 70% 60% 1,000 50% 40% 30% ,500 20% 10% ,0 0% – – –
Slide 7: Baltics
BALTICS
Slide 8: Baltics — Operational highlights
Baltics — Operational highlights RGUs & net intake — mobile services Mobile ASPU year-on-year growth (thousand) +80 +8 +28 1% oO % +8% Q2’20 Q3'20 04°20 Q1’21 Q2'20 Q3'20 04°20 Q1’21 Q2’21 Hi Estonia Wi Latvia Mi Lithuania “@ Estonia —@ Latvia —@ Lithuania 2 highlights — Positive net intake was driv
Slide 9: 80% 70% 60% 50% 40% 30% 20% 10% 0% – – –
600 80% 70% 500 60% 400 50% 300 40% 30% 200 20% 100 10% 0 0% – – –
Slide 10: Financial Overview
FINANCIAL OVERVIEW
Slide 11: Revenue breakdown
Revenue breakdown SEK million excl roaming YoY % (1) Mobile postpaid grew by 1% ex (organic) Mobile 1,415 1,401 15 1% roaming driven by price adjustments Postpaid e 1175 1161 4 % while volumes remained tepid due to low market activity Prepaid 240 240 0 0% Fixed 1,450 1,450 1 0% e DTV cable & fiber t
Slide 12: Group results
Group results SEK million Q2 2021 022020 Revenue 6,572 6,546 Underlying EBITDA (1) 2,686 2,541 Margin (%) 40.9% 38.8% Items affecting comparability e -121 -120 D&A e “1526 “1322 Impairment 0 0 Associated companies & JVs 22 32 Operating profit 1,062 1,132 Net interest and other financial items 6 -90
Slide 13: Group cash flow
Group cash flow SEK million Q2 2021 Continuing operations Q2 2020 3 Underlying EBITDA 2,686 2,541 Items affecting comparability -121 -120 Amortization of lease liabilities -270 -262 Capex paid Ci) -652 -728 Changes in working capital e 80 -95, Net financial items paid -175 -210 Taxes paid e -304 -21
Slide 14: Leverage at 2.5x
Leverage at 2.5x sexton eu 26.0 — Economic net debt increased by SEK 0.8bn compared to Ql 2021 as the first tranche of the ordinary dividend was paid in during the quarter — Leverage of 2.5x was in the lower end of the target range of 25-3.0x ahead of extraordinary dividend payment in July. Adjusted
Slide 15: Business transformation program update
Business transformation program update - Annualized run-rate at end of Q2 2021 of SEK 350 million (SEK 300m as of Q1 2021). — Savings of 80 million realized in Q2 2021 with SEK 70 million net effect on underlying EBITDAaL growth (SEK 10 million realized in Q2 2020) - Cost reductions in Q2 2021 comin
Slide 16: Updated financial guidance
Updated financial guidance — End-user service revenue and Underlying EBITDAaL guidance for 2021 raised as negative effects from the pandemic start to abate — Capex guidance for 2021 maintained as we expect to ramp up SG rollout during H2 1 i et 1S Excluding spectrum and lease capex Based on continui
Slide 17: To conclude...
TO CONCLUDE...
Slide 18: Key priorities going forward
Key priorities going forward Sweden: Ramp up roll-out of nationwide 5G and Remote-PHY Continue execution of the business transformation program to deliver at least SEK Ibn in opex reduction by the end of 2022 Sweden B2C: Execute on phase 2 of FMC with the rebranded Tele2 Sweden B2B: Utilize new port
Slide 19: Thank you!
THANK YOU!
Slide 20: Information Classification: Internal
Information Classification: Internal