Slide 1: Tele2
= TELE2
Slide 2: Group highlights — Q2 2019
Group highlights — Q2 2019 % change organic SEK billion Q2 2019 Comments — Organic growth of end-user service revenue of -1%, including — Mobile EUSR +1% End — Fixed EUSR -5% nd-user ° service revenue 5.1 -] Yo Underlying EBITDA ex. ° Capex ex. spectrum and leases 0.5 Revenue 2 Organic is constant c
Slide 3: Tele2 is becoming a true integrated challenger
Tele2 is becoming a true integrated challenger Drive FMC in Sweden B2C Sweden B2B turnaround Build on the momentum in the Baltics Increasing penetration of FMC bundle benefits now reaching 93k FMC-customers FMC benefits introduced on Boxer brand Tele2 rebranding campaign launched Strong volume growt
Slide 4: Growth and cost initiatives drive cash flow
Growth and cost initiatives drive cash flow FY2018 Starting Point — proforma* (1) Low-single digit end-user service revenue growth — SEK 450m of revenue synergies Expected to be flat in 2019, which is a transition year, and low-single digit growth in the mid-term End-user service revenue: SEK 20.3bn
Slide 5: Sweden
SWEDEN
Slide 6: Sweden Consumer — Operational highlights
Sweden Consumer — Operational highlights RGUs & net adds — core and legacy services ASPU year-on-year growth (thousands, proforma) (%, proforma) +28 +20 +34 5% 3% % -1% -3% 5% -44% Q218 Q3'18 0418 ai9 Q2"19 Q218 Q318 0418 aig Q219 Core: [Mobile Postpaid MMFixed Broadband _M Digital TV Cable & Fiber
Slide 7: Sweden Consumer — Financials
Sweden Consumer — Financials End-user service revenue Underlying EBITDA ex. IFRS 16 and margin (SEK million, proforma, year-on-year growth %) (SEK million, proforma) +6% +4% +5% a 1,538 14/0 Q2°18 0318 04°18 Qi Q2°19 Q2°18 03°18 04718 Qig Q2°19 Core: I Mobile Postpaid BB Fixed Broadband Bi Digital T
Slide 8: Sweden Business — Operational highlights
Sweden Business — Operational highlights Mobile RGUs Mobile ASPU End-user service revenue (thousands, proforma) (SEK, proforma) (SEK million, proforma, year-on-year growth %) I y I v -5% “2%, Zo -2% “4% 913 184 180 183 867 881 889 896 77 168 | | | | , | Q2°18 03°18 0418 Qig Q2°19 Q2°18 03°18 0418 Qi
Slide 9: Sweden Business — Financials
Sweden Business — Financials Revenue Underlying EBITDA ex. IFRS 16 and margin (SEK million, proforma) (SEK million, proforma) 408 Q218 0318 0418 a9 a219 Q218 Q3'18 0418 oli) a219 End-user ™ Equipment ™ Wholesale ™ Operator mmm EBITDA EBITDA ex. Wholesale ~*=EBITDA margin ex. Wholesale Q2 highlights
Slide 10: 2,000 100% 1,800 90% 1,600 80% 1,400 70% 1,200 60% 1,000 50% 800 40%
2,000 100% 1,800 90% 1,600 80% 1,400 70% 1,200 60% 1,000 50% 800 40% 600 30% 400 20% 200 10% 0 0% – – –
Slide 11: International
INTERNATIONAL
Slide 12: Baltics — Operational highlights
Baltics — Operational highlights Mobile RGUs ASPU development : (thousands) (EUR) Brand campaign 3,234 3,216 6.4 67 Daugiau vertés, todél uzZtenka Q2°18 Q2 highlights — Mobile RGUs increased by 1% with continued strong growth in Lithuania and Latvia — Estonia saw the highest quarterly net adds since
Slide 13: Baltics — Financials
Baltics — Financials End-user service revenue Underlying EBITDA ex. IFRS 16 and margin Underlying EBITDAaL - Capex* and cash (SEK million) (SEK million) conversion, rolling 12m (SEK million) | ; | ’ 402 385 413 704 644 654 661 660 | Q2°18 Q3'18 04°18 Qi Q2°19 Q2°18 Q318 04118 Ql? Q2"19 Q278 Q3718 04
Slide 14: Financial overview
FINANCIAL OVERVIEW
Slide 15: Group results Q2 2019
Group results O2 2019 Q2 2019 6 SEK million Revenue Underlying EBITDA Margin (%) Items affecting comparability D&A Impairment JVs and associated companies Operating profit Interest income/expenses Other financial items Taxes Net profit, continuing operations Net profit, discontinued operations Net p
Slide 16: Group cash flow Q2 2019
Group cash flow Q2 2019 % SEK million Q2 2019 = Q2 2018 Underlying EBITDA, continuing operations 2,502 1,460 Items affecting comp., continuing operations -271 -129 EBITDA continuing operations 2,231 1,332 EBITDA discontinued operations @ 2134 361 Amortization of lease liabilities -297 -] Capex paid
Slide 17: Synergy update
Synergy update Benefit in quarter Run-ra (Annualiz: v Ones meri 100 Important first steps taken towards target of SEK 450m in 5 years, Revenue synergies including FMC benefits for Boxer customers Drivers We realized additional synergies with an impact of SEK 100m in the quarter leading to a total of
Slide 18: Financial guidance — adjusted for Croatia
Financial guidance — adjusted for Croatia 8 Mid-term ambition 2019 End-user Underlying service revenue EBITDAaL unchanged unchanged Low-single digit Mid-single digit growth growth Mid-single digit Around 2018 level g ° g growth FMC cross-sell and monetization - Growth in the mid-term driven of custo
Slide 19: – 2,9 2,8 – 2,7 2,6 – 2,5 2,4 2,3 2,2
3 – 25 2,9 2,8 20 – 2,7 15 2,6 – 10 2,5 2,4 5 2,3 0 2,2
Slide 20: To conclude...
TO CONCLUDE...
Slide 21: B2C: FMC penetration in the customer base
B2C: FMC penetration in the customer base — FMC benefits to be extended to all brands — Capitalize on positive pricing environment — B2B: Execute on turnaround Structural cost savings — Cost synergy target raised to SEK 600m run-rate by year-end 2019 — Cost synergies of SEK 900m within 3 years — Inv
Slide 22: Thank you!
THANK YOU!
Slide 23: Tele2
TELE