Climate Transition Plan

Date of publication: March 2026.

This Climate Transition Plan reflects the CSRD-aligned format suggested by EFRAG, the Transition Plan Taskforce (TPT) Disclosure Framework and the GSMA's "Climate Transition Planning Guidance for Telecommunication Companies".

This plan has not been validated by an external

party. An extract of this

plan is subject to limited assurance and is available

in Telia's Annual Report 2025.

In brief Priorities and goals Actions Opportunities Risks Other 3

Our Climate Transition Plan outlines how Telia is executing on our commitment to help shape a low-carbon future. It shows that addressing climate change is a priority for us, and explains how our strategy and business model align with the transition to a more sustainable economy. In the following pages, we describe our climate targets, actions and talk about the risks and opportunities we see.

A message from our President and CEO

Starting with our targets, we are working to achieve:

• A 90% reduction in greenhouse gas (GHG) emissions in our own operations, scope 1 and 2, by 2030 - so far reduced by 74%

• At least a 50% reduction in GHG emissions in our value chain, scope 3, by 2030 - so far reduced by 35%

• Net-zero emissions by 2040, approved by Science Based Target Initiative (SBTi).

We have made considerable progress in reducing the climate impact of our own operations, mainly by using 100% renewable electricity to run our networks. In late 2025, Telia was awarded an 'A' score by CDP, in recognition of our leadership in climate change action and corporate transparency.

Across our organization, we constantly explore additional ways of integrating climate considerations into our processes, decision-

making and daily business. Our people have an important role to play here, and during the year, we introduced a common mandatory environmental training that 99% of Telia employees had completed by the end of 2025.

A key focus of our transition plan is Telia's products and services. Evolving our offerings is vital for our adaptation to climate change, while helping to mitigate the wider effects of this change. It also creates commercial opportunities - for instance, Telia's Internet of Things (IoT) portfolio can support our customers in making their operations more energy-efficient.

We recognize that 99% of Telia's emissions come from outside our own operations, with the vast majority originating in our supply chain.

For this reason, our plan focuses on reducing emissions from the products and services that we purchase from suppliers. We are working to develop

a supply chain consisting of suppliers that are actively reducing their emissions in line with a 1.5°C global warming scenario. Suppliers representing 63% of the emissions in our supply chain have so far set reduction targets in line with science.

We maintain close dialogue with the top 50 suppliers, Scope 3 categories 1 and 2, that together account for almost 65% of the emissions in our supply chain, with the aim of identifying further ways to reduce emissions from the

products and services that we buy from them.

We continue to integrate climate aspects into the end-to-end supplier process, with increased focus on the full supplier lifecycle.

These activities remain work in progress, with uncertainties attached. Our reduction plan is based on several assumptions; in particular, that our key suppliers will lower emissions in line with their targets. We continue to reinforce our

ability to be active in our purchasing choices, and to build value-adding collaborations with key suppliers.

At Telia, we are the best at what we do. We need to be - people, businesses and societies rely on our robust and resilient communications networks, 24/7. As well as delivering here and now, leadership means understanding what will

be needed tomorrow. Addressing climate change, and enabling a more sustainable future, is a major task and responsibility facing all of us. Everyone at our company is committed to ensuring we play our part and reach our goals.

Patrik Hofbauer

Telia Company President and CEO

In brief Priorities and goals Actions Opportunities Risks Other 4

Telia is a leading telecommunication operator at the center of today's hyper-digital Nordic and Baltic societies. Every day, we deliver world-class connectivity and communication services to millions of customers through our secure and robust networks - enabling people, businesses and societies to thrive and grow.

Our purpose

How we win

Our priorities for 2026-2028

We reinvent better connected living

Inspire and delight customers

Best network and technology quality

Trusted and progressive partner

Winning team

Our offerings include mobile, broadband, TV and streaming, as well as ICT services, and we manage 25 million subscriptions across Sweden, Finland, Norway, Lithuania and Estonia.

Telia's company strategy defines our purpose, how we win and our priorities.

Our purpose is to reinvent better connected living. We win by inspiring and delighting our customers, delivering the best network and technology quality, being a trusted and progressive partner, and working as a winning team.

For 2026 to 2028, Telia has three priorities: Grow and Innovate, Simplify, and Getting it Done. We have defined the results we want to achieve -loyal customers, empowered societies, engaged employees and satisfied shareholders.

All Telia's products and services are related to sustainability areas like greenhouse gas (GHG) emissions, circularity, security and privacy throughout their lifecycle. Our Internet of Things (IoT) and 5G solutions can help to drive digitalization and decarbonization. Reliable connectivity for customers provides access to

information and communication, while supporting innovation, mobility and freedom of expression.

Grow and Innovate Provide seamless and personalized connectivity

Simplify Constantly deliver higher value, while

being cost conscious

Getting it Done Build a stronger, high performing Telia

Securing people and digital environments

Top-tier position in customer privacy in all markets by 2028

Sustainability focus areas & strategic targets

CO2

Enabling customers' and our own

climate transition

Net-zero emissions by 2040 and zero waste by

2030

Digitally strengthening all generations

Empower 1.2

million people (10% directly) through digital skills initiatives by 2028, including

60,000 children and parents

Empowering a winning culture

Achieve 50/50 gender balance

among senior leaders and an employee growth score of

7.8/10 by 2028

In 2025, we updated our focus areas and strategic goals for sustainable value creation, to help ensure that Telia continuously drives positive impact, mitigates risks, engages stakeholders and creates business value by working in a sustainable manner. We aim to secure people and digital environments, enable customers' and our own climate transition, digitally strengthen all generations, and empower a winning culture. In everything we do, we build

on a strong foundation of ethical and responsible business practice.

Each of our four sustainability focus areas is directly linked to Telia's strengths and capabilities. Through these areas, Telia adds value to our business and to employees, customers, investors and societies. Driving a sustainable business helps us to win while unlocking Telia's potential

to contribute to a safer, resilient and more equal society.

Building on a strong foundation of ethical and responsible business practice

‌

Telia's climate work

In brief Priorities and goals Actions Opportunities Risks Other 5

We are committed to achieving our net-zero GHG emission target for 2040, and are adjusting our strategy and business model to ensure compatibility with the transition to a low-carbon economy.

Telia's Climate Transition Plan outlines our strategy and roadmap to reduce emissions and adopting sustainable practices. It sets clear goals, actions and timelines to support global climate targets aligned with science.

Telia views effective climate-change action as key to our future success. Our ambitions in this area are founded on long-term commitment and experience. Sustainability is part of our core business strategy and is owned by executive

management, with shared responsibility across the organization.

This Climate Transition Plan is structured around mitigation, adaptation and enablement:

As a technology pioneer that has been digitalizing

societies for 170 years, Telia is well-placed to help drive

decarbonization across our value chain and in society.

Mitigation

Telia's ambitions and targets

Telia is committed to reaching net-zero GHG emissions by 2040. Our target is approved by the SBTi and aligned with the Paris Agreement

Telia's 2030 milestone is to reduce GHG emissions by 50%

Telia is committed to 75% of supplier spend being covered by SBTi-approved targets or similar by 2028

Each Telia country is responsible for delivering reductions in its daily operations

Telia's offerings have the potential to enable a net-zero and circular economy

CDP 'A'

Score

in recognition of our leadership in corporate transparency and climate change action

Telia plans to reduce our GHG emissions in line with science-based targets aligned with the Paris Agreement's ambition to limit global warming

74%

of absolute GHG emission reductions in own operations since 2018

to 1.5°C. Telia's reduction targets are largely dependent on our suppliers, as 99% of our GHG emissions come from outside our own operations, with the vast majority being within the supply chain. Telia is not a producing or manufacturing company, which means that emission reductions are primarily achieved through close collaboration with our suppliers. In addition to emission reductions, Telia continues to pursue energy efficiency improvements to limit the increase in electricity consumption.

Adaptation

63%

of total supply chain emissions covered by science-based targets

95%

of waste is reused or recycled (excluding pesticide-treated wooden poles)

100%

renewable electricity throughout our own operations since 2020

Telia provides critical communication infrastructure and services to businesses and individuals in the Nordic and Baltic regions. Our adaptation work aims to ensure continuity in our offering, even in the event of extreme weather caused by climate change. We are also taking into account how climate changes may affect customer expectations of our products and services.

Furthermore, we are working to make our products low-carbon, energy-efficient and circular.

Enablement

Telia provides the backbone of the digital society - connectivity. Digital solutions, such as remote meeting services and IoT products, have great potential to enable emission reductions and energy savings across industries. Telia anticipates increasing demand from customers for enabling solutions that help them reduce their emissions, and we intend to develop these offerings further.

In brief Priorities and goals Actions Opportunities Risks Other 6

Scopes and GHG emissions across the value chain

Scope 3

The GHG Protocol Corporate Standard classifies a company's greenhouse gas (GHG) emissions into three scopes:

Scope 1 emissions are direct emissions from owned or controlled sources.

Scope 2 emissions are indirect emissions from the generation of purchased energy.

Scope 3 emissions are all indirect emissions (not included in scope 2) that occur in the

Scope 2 Scope 1

Leased assets

Employee commuting

Company

Scope 3

Investments

Franchises

value chain, including both upstream and downstream emissions.

Upstream

1: Purchased goods and services 2: Capital goods

3: Fuel- and energy-related activities (not included in scope 1 or scope 2)

4: Transportation and distribution 5: Waste generated in operations 6: Business travel

7: Employee commuting

Purchased electricity, heating and cooling for own use

Business travel

Waste generated

in operations

Transportation and distribution

facilities

Company vehicles

Leased assets

End-of-life treatment of sold products

(8: Leased assets)

Downstream

(9: Transportation and distribution) (10: Processing of sold products) 11: Use of sold products

12: End-of-life treatment of sold products 13: Leased assets

14: Franchises

15: Investments

Purchased goods and services

Capital goods

Fuel- and energy-related activities

Backup power fuels

Use of sold products

Processing of sold products

Transportation and distribution

CO₂e (carbon dioxide equivalent) represents all greenhouse gases in calculations. CO₂ is the most material greenhouse gas for Telia's operations.

Upstream refers to activities before a company's operations, like sourcing raw materials, while downstream covers activities after production, such as distribution and product use.

Upstream (Supply chain)

Own operations

Downstream

Scope 3 categories 8, 9 and 10 are not material for Telia.

‌

In brief Priorities and goals Actions Opportunities Risks Other 7

Customer use Telia's own operations

Most of Telia's total value chain GHG emissions, more than 90%, are generated in our supply chain, compared with only 1% generated from our own operations.

Working closely with suppliers to ensure GHG emission reductions is therefore key to achieving our goals. In the sourcing process, Telia assesses suppliers' climate management maturity so that we can reward the best performers and influence the others. Telia continues to engage with our suppliers and encourage them to set science-based targets. By year-end 2025, suppliers responsible for 63% of Telia's

Other supply chain

Scope 3:

Such as:

• Business travel

Scope 3:

• Use of sold products

• Downstream leased assets

  1%

  Scope 1: (<1%) and Scope 2

  (<1%)

  • Direct emissions

    V

    a

    l

    u

    e

    c

  • Own energy usage

    Purchased goods

    and services & capital goods

    83%

    Scope 3 categories 1+2:

  • Network construction and

    total supply chain GHG emissions from purchased goods and services and capital goods were covered by targets approved by the SBTi or equivalent.

  • End-of-life handling

    S

    u

    p

    p

    l

    y

    h

    a

    c

    i

    n

    h

    a

    i

    n

    of products

  • Dismantling of networks

    More than 90% of GHG emissions are generated in the supply chain.

    maintenance

  • Network equipment

  • Mobile phones

  • Other hardware

  • Media content providers

  • Other purchased goods and services

    
    
    

    Supply chain refers to the network of entities and processes involved in the production, supply, transport and storage of goods and services.

    
    
    

    Value chain encompasses a broader scope, including production, design, distribution and other upstream and downstream business activities that impact people and the planet.

    
    
    

    In brief Priorities and goals Actions Opportunities Risks Other 8

    
    
    Telia's climate value creation and commitments

    Drive and encourage supplier action

    • Collaborate with suppliers to drive the climate transition

    • Integrate climate transition into supplier selection criteria

    • Develop emission data and awareness

    • Drive climate action through industry collaboration

    Engage and enable customers

    • Enable customer emission reduction through smart services

    • Enable customer energy savings through smart solutions

    CO

    2

    Establish a circular business

    • Provide attractive circular offerings

    • Embed circular principles into core processes

    • Increase re-use and waste recycling

    • Transition fully to renewable energy and continue work on energy efficiency

    Enabling customers' and our own climate transition

    Develop and innovate in business and processes

    • Embed climate criteria into RFQ/RFI processes

    • Integrate climate impact into decision-making

    • Create low-carbon, energy-efficient and circular products and services

    
    
    

    2030

    Reduce GHG emissions in the value chain (scope 3) by 50%
    
    Reduce GHG emissions in own operations (scope 1 and 2) by 90%
    
    Ensure 100% of waste from Telia's own and network operations to be reused or recycled
    
    

    2040

    Achieve net-zero:
    
    

    • Reduce value chain GHG emissions (scope 1, 2 and 3) by 90% in line

      
      
      with the SBTi Net-zero Corporate Standard
      
      

    • Offset (neutralize) residual emissions

    2028

    Reduce GHG emissions in the value chain (scope 3) by 42%
    
    Reduce GHG emissions in own operations (scope 1 and 2) by 82%
    
    Increase take-back of used mobile phones to 20%
    
    Limit electricity consumption
    
    

    increase to 4% compared with 2024

    Reach a 75% share of supplier spend (purchased goods and services and capital goods), covered by science-based targets, approved by SBTi or equivalent
    
    
    
    

    In brief Priorities and goals Actions Opportunities Risks Other 9

    Emissions reductions will accelerate as suppliers gradually transition

    Annual reduction targets 2026-2030

    Scope 3 emissions tCO₂e

    -35%

    -50%

    
    
    

    900,000

    800,000

    Telia's focus for our targets and primary transition plan is on the supplier level, as more than 90% of our GHG

    emissions arise from our supply chain, primarily driven by purchased goods and services.

    are forecasting an increase in reduction rates over the coming years, with a greater effect towards the end of the period.

    In the same way, Telia's own reduction activities are planned to expand in the coming years, resulting in greater effects over time.

    700,000

    600,000

    We have analyzed where the majority of our GHG emissions come from and identified five categories of purchased goods and services representing 73% of supply chain emissions. These categories are:

  • Network construction and maintenance

  • Network equipment

  • Mobile phones

  • Other hardware

  • Media content providers.

    Based on our calculations, Telia's top 50 suppliers, Scope 3 categories 1 and 2, by emissions represent 65% of the emissions in our value chain. For this reason, we are focusing our actions on

    constructive dialogue with these suppliers and on the products and services we buy from them.

    Our reduction plan is largely based on the assumption that suppliers representing most of the GHG emissions will reduce their emissions in line with their own science-based targets they have set.

    Our main suppliers have initiated activities to reduce their GHG emissions. However, the results of most of these activities will only become visible in a few years' time, as they are often related to production processes that take time to change. This means that we

    During 2025, Telia recalculated our base year 2018 value-chain emissions, due to company divestments that changed Telia's operational boundaries. This recalculation affected all scope 1-3 emissions and the previously reported progress against the base year. Furthermore, the company has set annual emissions reduction targets for the period 2025-2030 that are aligned with its 2040 GHG emissions reduction target, which is ahead of the general regulatory expectation to achieve climate neutrality by 2050. Currently,

    there are no sector-specific climate transition pathways for the telecommunication industry.

    Annual reduction targets 2026-2030 Scope 3 emissions (tCO₂e)
    Year	% reduction compared with previous year	% reduction compared with baseline (2018)
    2025	5%	35%
    2026	3%	37%
    2027	3%	39%
    2028	5%	42%
    2029	7%	46%
    2030	8%	50%

    500,000

    400,000

    300,000

    200,000

    100,000

    0

    2018

    2025 2026 2027 2028 2029 2030

    Outcome Targets

    ‌

    
    
    Telia's

    In brief Priorities and goals Actions Opportunities Risks Other 10

    
    
    

    Telia's emissions reduction plan and levers 2026-2040

    Total emissions (scope 1, 2 and 3) (tCO₂e)

    emissions

    2018*

    2025 2030

    2040

    reduction

    925,935**

    Achieved by 2025:

    -74% scope 1+2

    -35% scope 3

    Target 2030:

    -90% scope 1+2

    -50% scope 3

    Target 2040:

    Net-zero (SBTi-aligned)

    plan 2026-2040

    To reach net-zero GHG emissions by 2040, Telia has outlined key climate mitigation actions for our own operations and value chain.

    -11,292

    -327,259

    587,384

    -7,174

    -2,400 -4,653

    -91,859

    -30,683

    450,615***

    -358,023

    92,592

    0

    1 2 3 4 5 6 7 8 9

    As more than 90% of our GHG emissions are

    generated in the supply chain, the 2030 and 2040 outcomes are largely dependent on the success

    of our suppliers in reducing their emissions, the impact of this reduction on the products and

    Renewable electricity in own operations

    Other reductions (scope 3)

    Own operations (scope 1+2)

    Circular actions (scope 3)

    Logistics (scope 3)

    Anticipated reductions by suppliers (scope 3)

    Development and innovation gap

    Required further reductions (scope 3)

    CO2

    removal by 2040

    Net-zero emissions

    services we purchase, and Telia's ability to change our purchasing behaviour.

    To drive progress, Telia is focusing on several key climate mitigation levers, including supplier engagement, low-carbon procurement choices, energy-efficiency improvements and innovation across our value chain. Telia's decarbonization

    levers, and corresponding key actions during 2026 and beyond, are shown in the graph to the right

    Renewable electricity in own operations

    1

    
    
    

    Read more on page 12.

    2

    
    
    

    Other reductions (scope 3)

    The emissions reduction is primarily driven by two factors:

    1. industry-average emission factors have decreased over time, due to inflation and decarbonization of sectors;

    2. increasing use of supplier-specific emission factors provides a more accurate reflection of suppliers' own reduction efforts.

    3

    
    
    

    Own operations (scope 1+2)

    Read more on page 11.

    Circular actions (scope 3)

    4

    
    
    

    Read more on page 14.

    5

    
    
    

    Logistics (scope 3)

    Telia's key logistics partners aim to transition to low-carbon transportation by 2030.

    6

    
    
    

    Anticipated reductions by suppliers (scope 3)

    Read more on page 15.

    7

    
    
    

    Development and innovation gap

    Telia strives for transparency and recognizes that achieving its 2030 target requires extensive work to reduce GHG emissions in its supply chain. Read more on page 16.

    Required further reductions (scope 3)

    8

    
    
    

    Telia will continue to reduce emissions among suppliers and through its purchasing behaviour.

    9

    
    
    

    CO₂ removal by 2040

    Telia's priority is absolute emission reduction. In line with the SBTi Corporate Net-Zero Standard, Telia will only claim to have reached net-zero when achieving a

    reduction of at least 90% from 2018 base-year emissions. The remaining emissions, up to 10%, will be neutralized through high-quality carbon offsets, in accordance with this standard.

    and further explained in the next sections.

    Decrease Total *Baseline. **of which 97% is scope 3. ***of which >99% is scope 3.
    
    

    ‌

    
    
    Actions driving progress

    Telia is actively identifying and developing decarbonization levers to achieve our target of reducing our GHG emissions by 50% by 2030. While we continue

    quantifying the specific contributions of each lever, we have identified several key areas that will play a significant role.

    In brief Priorities and goals Actions Opportunities Risks Other 11

    To accelerate progress, Telia focuses on the following key areas:

  • Upskilling our own workforce

  • Energy actions

  • Circular actions

  • Logistics and transportation

  • Supplier GHG emissions reduction

  • Development and innovation

  • Collaboration.

Implementation of the Climate Transition Plan is ongoing. During 2025, Telia participated

in the GSMA's development of new industry guidance for transition planning. In 2025, Telia was awarded an 'A' score by CDP, in recognition of our leadership in corporate transparency and climate change action.

Upskilling our own workforce

Telia has updated our mandatory environmental training "Together Towards Zero: Climate and Circularity in Action" to deepen employee understanding of Telia's climate commitments and environmental targets. The training is designed for all employees and consultants and provides essential knowledge on addressing

climate change, promoting energy efficiency, and fostering a circular economy throughout Telia's operations and partnerships. Completion is part of the annual performance evaluation. By year-end 2025, the completion rate of training was 99%.

GHG emissions reductions from own operations (scope 1 and 2 market-based)

tCO₂e

35,000

30,000

25,000

20,000

15,000

10,000

5,000

0

2018 2019 2020 2021 2022 2023 2024 2025

Achieving our GHG emission reduction targets depends on several key assumptions:

1. Continued sourcing of renewable electricity and increasing the share of renewable energy.

2. Suppliers reducing their own emissions in line with science, with a direct impact on products that Telia purchases.

3. Addressing the gap between anticipated GHG emission reductions from key suppliers and the overall reduction target

It is also important to note that improvements in the quality of data inputs, emission factors and/or calculation methods will have an impact on the reduction plan.

Telia is committed to becoming even more sustainable and taking a leading role in the industry. Sustainability is one of our top seven company targets, and selected leaders are responsible for meeting specific climate and circularity-related objectives.

Achieving our climate commitments is a shared responsibility across the organization. To be able to transition, we have identified key units and departments and are working to build required capabilities and strengthen collaboration. Group Sustainability, Sourcing, and Risk & Compliance work closely together to improve supplier selection, and leaders from these units participate in monthly sustainability meetings.

In 2025, as part of the company's 2028 strategy work, the countries included operational plans for sustainability in their specific strategy work.

‌

In action: Replacing diesel with green hydrogen

Telia Norway operates 15 mobile network sites,

stretching from Vardø in the north to Iveland in the south, which use green hydrogen instead of diesel for backup power. This solution provides the required 72-hour backup during electricity shortages. When activated, it produces no greenhouse gas emissions. Hydrogen molecules are split, generating electricity and water vapour. The project has been funded by local governments.

Mobile network site with hydrogen

fuel cells as backup power.

Telia's countries and Group Functions have worked together to identify emission reduction activities and their link to strategic and financial planning.

Each market organization is responsible for its emission reduction roadmaps and operates its own additional trainings and collaboration forums to embed climate targets and actions into day-to-day work, processes and decision-making structures.

Energy actions

Only 1% of Telia's GHG emissions come from our own operations (scope 1 and 2), linked to our mobile and fixed networks and purchased energy. Telia is not a producer or manufacturer, but an operator of mobile and fixed networks. Compared with the recalculated baseline, Telia has reduced absolute GHG emissions from its own operations by 74% since 2018 (scopes 1 and 2).

Telia consumes approximately 1.1 TWh of energy annually, with the vast majority - around 95%

- being electricity. Telia sources 100% of our

operational electricity from renewable sources, verified through Guarantees of Origin. In addition, Telia generates renewable solar electricity at our mobile sites, totaling 1,202 MWh in 2025. As a result, the share of renewable energy in Telia's total energy consumption is 97%.

Renewable electricity

Telia uses only renewable electricity for our operations, including networks, technical sites and data centers. Our shift to renewable electricity

in 2020 contributed to a 37% reduction in GHG emissions in our own operations compared with 2018. Additional measures - such as switching to renewable district heating and adopting biodiesel - delivered a further 38% reduction between 2018-2025. Our work in this area continues.

Regarding scope 1 emissions, Telia will continue to increase the share of biodiesel used as backup fuel and complete the transition of our car fleet to electric vehicles. On scope 2 emissions, Telia will continue to purchase 100% renewable electricity,

In brief Priorities and goals Actions Opportunities Risks Other 12

improve energy efficiency and increase the share of renewable district heating.

As a result of the expansion of 5G technologies across mobile networks, Telia's total energy consumption is predicted to grow slightly. To mitigate this growth, the company is implementing energy efficiency measures that aim to cap the increase at no more than 4% by 2028, compared to 2024.

In 2025, as part of the Group Policy - Environment update, Telia formalized our commitment to 100% renewable energy. Our remaining non-renewable energy usage comes from district heating and cooling, vehicle fuels, and diesel used for backup power, and work is ongoing to transition these sources to renewable energy.

Key activities to reduce GHG emissions through our energy strategy:

1. Renewing network hardware and introducing power-saving features: We are improving network efficiency. Traffic continues to shift to energy-efficient 5G networks, covering 99%

   of our population footprint by year-end 2025, supported by ongoing power-saving technology deployments.

2. Modernizing sites and decommissioning

3. Using only renewable energy when possible: Since 2020, we have sourced 100% renewable electricity - primarily through Guarantees of Origin - thereby reducing operational emissions by 37% from 2018.

4. Innovating around renewable energy: We continued expanding onsite solar power generation capabilities, installing 94 solar units in Estonia and 53 in Lithuania during 2025. Our vehicle fleet reached 61% electric and 18% hybrid in 2025.

   In Finland, our Helsinki data center supports grid stability by enabling battery-based balancing services, and excess heat from data centers in Helsinki and Haninge, outside Stockholm, is reused for district heating.

   In brief Priorities and goals Actions Opportunities Risks Other 13

   
   
   

   In action: Moving to renewable district heating

   legacy networks: Legacy networks are being phased out as part of our modernization program. In Sweden, 96% of copper networks had been retired by 2025, with full fixed network phaseout targeted for 2026. The 3G shutdown was completed in 2025 and the 2G shutdown is planned for 2027.

   District heating is widely used in the Nordics and Baltics. It works by generating heat in a

   centralized facility and distributing it through a network of insulated pipes to residential and commercial buildings. In recent years, Telia Finland has begun transitioning to renewable district heating

   contracts for its facilities in cities where renewable district heating is available. The energy sources for renewable district heating include waste heat, geothermal energy and bioenergy. After switching to renewable electricity, this is the next most significant step in reducing emissions from our own operations.

   ‌

   
   
   

   Circular actions to reduce GHG emissions

   Shifting from a linear to a circular economy, and using natural resources more efficiently, is critical to tackling climate change and for living within planetary boundaries that are safe for humanity and ecosystems.

   Through various initiatives, Telia promotes take-back, refurbishment and reuse of mobile phones

   	2025	Target 2028	Target 2030
   Zero waste (share of waste reused or recycled, excluding pesticite treated wooden poles)	95%	98%	100%
   Take-back of mobile phones	13%	20%	-

   and customer premises equipment (CPE), such as routers, set-top boxes and network equipment. By reducing the total consumption of hardware, Telia can reduce GHG emissions in scope 3.

   Digitalization in general can accelerate the circular shift by enabling various sectors to use energy, fuel, water and other resources more efficiently.

   As a connectivity provider, Telia enables tools that support circular business models such as platform sharing.

   Key circularity targets to reduce GHG emissions Telia aims for zero waste by 2030, meaning all leftover materials are reused, repurposed or recycled, with nothing sent to incineration or landfill. The target covers waste from network installations and repairs, technical sites, field work, offices and shops. Legacy waste fractions that

   are subject to legally mandated or technically unavoidable treatment methods - such as pesticide-treated wooden poles - are excluded from the scope of Telia's zero waste target.

   In 2025, Telia committed to the GSMA's circularity targets, which aim to keep mobile devices in use for longer and reduce resource consumption.

   Through take-back and end-of-lease activities, our aim for 2028 is to collect used mobile phones equivalent to 20% of the number sold during the year. These devices will then be repaired, re-used or recycled.

   Increasing lifespan

   We work to extend the lifespan of devices, including mobile phones and customer-premises equipment (CPE), by expanding our offering of refurbished products and strengthening take-back

   In brief Priorities and goals Actions Opportunities Risks Other 14

   In action: Lowering emissions by closing the loop

   Today, the market for pre-owned phones in Finland is growing approximately 20% every

   year. Telia Finland's closed loop model addresses the increasing demand from consumers and businesses for refurbished devices.

   By making it as simple as possible for companies and corporate customers to return a device at the end of a DaaS contract, the initiative increases Telia's access to high-quality devices that are suitable for refurbishment and then resale. Returned devices are refurbished, wiped securely of data and processed internally. Sales of refurbished devices have more than doubled during 2025.

   This approach improves device lifetimes and cost efficiency, while enabling better control over volumes, quality and end-of-life handling.

   At the same time, by reducing the need for new device production, the model contributes to lower lifecycle emissions.

   
   
   

   and circular business models. Our ambition is to increase the share of refurbished devices in Telia's sales mix. We also expect a decrease in

   sales volumes of new mobile phones and tablets. In parallel, Telia supports customers in choosing lower-emission options.

   1. Encourage returns

      We offer take-back channels in all our markets and encourage customers to return used mobile phones for trade-in or recycling. Returned phones are either repaired for reuse or sent to certified recyclers.

   2. Offer refurbished devices

      We provide refurbished mobile phones in all countries and have expanded our offering of pre-owned laptops (Finland, Estonia, Lithuania) and tablets (Finland, Norway, Estonia, Lithuania).

   3. Lengthen lifecycles through Devices as a Service (DaaS).

      Through DaaS in Sweden, Finland and Norway, B2B phones are returned after the lease period and prepared for further use.

   4. Reduce Customer Premise Equipment (CPE) We refurbish and reuse equipment such as set-top boxes and routers across five markets.

During 2024-2025, Telia also participated in the Nordic Circular Accelerator, a collaborative program focused on data sharing for circular practices. Telia contributed a case study with

network equipment and installation suppliers on the topic of circularity in relation to network sites.

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Logistics and transportation Transportation is a major contributor to emissions worldwide. Telia started looking into this area many years ago, and has been successful in signing up key logistics partners that aim to transition to low-carbon transportation by 2030.

Supplier GHG emissions reduction actions

Working closely with suppliers both to push and to enable them to transition to a low-carbon reality is key to achieving our climate goals. Our top priority is to shift our purchasing approach systematically and, over time, to develop a supply chain that consists of suppliers that are actively reducing their emissions. We expect our suppliers, sub-suppliers and distributors to

implement sustainable business practices and to be transparent about their challenges. Choosing suppliers with good sustainability practices is

a way for us to have a positive influence on our supply chain.

For the purpose of the reduction plan, it has been assumed that the top 50 suppliers will reduce their GHG emissions in line with science, achieving a 50% emissions reduction by 2030 from their respective baseline years (typically 2018-2020).

It is also assumed that the suppliers' GHG emission reductions will directly impact the products that Telia purchases from these suppliers.

Climate criteria integrated in our supplier selection process

In 2021, we strengthened our supplier requirements to match our environmental goals, asking our suppliers to commit publicly to

reducing their GHG emissions with the ambition level of meeting the 1.5°C scenario and setting science-based targets. Each supplier receives an internal Telia climate score that reflects the maturity of their climate work to date, including whether the supplier is using renewable energy

and whether it has adopted science-based targets. This score is considered when selecting suppliers.

Supplier engagement is key to progress We engage with suppliers in various ways, including the day-to-day sourcing process as

well as through meetings with top management of strategic suppliers. These meetings give us an opportunity to discuss our expectations and to highlight the need for collaboration.

One of our requirements for our suppliers is to set science-based targets. By year-end 2025, 63%

of supply chain emissions were covered by such targets, approved by SBTi or equivalent. In some cases, the suppliers set these targets as a direct result of our engagement. Establishing Science Based Targets is considered the foundational step for suppliers.

Focused supplier engagement

73% of the GHG emissions in Telia's supply chain come from the purchases we make in five categories: network construction and

maintenance, network equipment, mobile phones, other hardware and media content providers.

We have identified our top 50 key suppliers in these categories and are focusing our work on these suppliers for maximum impact.

During 2025, we continued the closer dialogue with key suppliers and expanded it to top 50

Key supplier categories by emissions

(as percentage of total supply chain emissions)

suppliers, Scope 3 categories 1 and 2, that together account for 65% of the emissions in our value chain, with the aim of identifying further ways to reduce emissions from the products and services that we buy from them. Together, we have looked at their decarbonization plans and how these plans can be accelerated.

During 2025, we have enhanced the climate requirements in the Supplier Code of Conduct (SCoC) and asked suppliers to deliver their own Climate Transition Plan to Telia as well as encouraging suppliers to increase the use of

renewable energy. The updated SCoC is expected to be in force from early 2026.

Telia's due diligence process considers risks related to environment and other areas. In 2025, Telia launched a platform to streamline third party risk management by integrating screening, compliance checks, and continuous monitoring for sustainability and security. It strengthens

due diligence and leverages the Compliance Verification Program (CVP) platform to improve supply chain transparency and prioritization.

We also work with our industry peers to engage with key suppliers of equipment or services used in the telecom sector. In 2025, we have participated in GSMA roundtable discussions with key suppliers and contributed to the GSMA's climate and circularity working groups, helping to set industry guidance and align ambitions. The supplier target group has been systematically enlarged to help us reach our climate targets.

Telia collaborates with other telecommunication operators via the Joint Alliance for CSR (JAC)

to assess common suppliers, with a particular focus on those operating in high-risk markets and involved in manufacturing activities. We will

develop our processes and knowledge in this area further, and integrate this into our purchasing and supplier evaluation decisions.

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Data management - improving quality and use of supplier emissions data

For our scope 3 emissions, we have limited direct control over reduction activities and data availability and quality, and greater reliance on partners in our value chain. To improve accuracy, Telia continuously updates methodologies, emission factors and calculation practices using the latest information. For these reasons, a key factor in reducing our scope 3 emissions is

the improvement in the quality of data inputs, emission factors and calculation methods.

Development and innovation

In 2025 a plan for how to address the current gap between target and anticipated reduced emissions was initiated. During 2026, Telia will continue to close the development and

innovation gap by deepening collaboration with key suppliers together across internal group fuctions and market organizations. Driving climate transformation goes hand in hand with business value creation.

We are working to integrate climate criteria into RFQ and RFI processes, ensuring that climate aspects are systematically considered and contributing to business value creation. Work continues to embed climate considerations into processes, digital development, and decision-making across the organization. The integration of the Climate Transition Plan has been initiated and is ongoing.

Digitalization and sustainability are no longer separate journeys. Data management is essential for decision-making and effective emission-reduction actions. Telia's approach is as follows:

• Telia receives emissions data at product level from suppliers, forming the basis for understanding supplier climate performance and tracking progress against science-based targets.

• Telia receives granular emissions data at product level from suppliers, enabling deeper insights and ensuring that information is consistently collected, stored and made accessible across the organization.

• Sharing emission data with customers makes sustainability less abstract and customers more aware of climate choices.

  In action: Covering new ground in reducing emissions

  In Sweden, Telia conducted a joint analysis with supplier dbramante1928 to assess the

  climate impact of mobile phone covers. This analysis identified durability, transport distances, packaging and materials as key emission drivers.

  In response, dbramante1928 shifted production of one line from Asia to Denmark. The result was

  85% reduction in carbon-dioxide emissions for the line in question, primarily through shorter transport distances and the use of renewable electricity.

  With these learnings, dbramante1928 continues to optimize transportation, including using rail

  infrastructure, and to explore additional production in Europe. In parallel, Telia is increasing our use of accessories made from recycled materials, while focusing on reducing transport-related emissions across our value chain.

  
  
  

• Analytics and AI-supported data processing can support improved data quality, consistency and insights.

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In action: Smart relocation for Telia Smart Connect

Telia Smart Connect is a cloud-based business communications service, with a backend

environment hosted in an Amazon Web Service (AWS) data center. To ensure usage of renewable energy and a modern large-scale solution, Telia changed to a backend located in Sweden, which demonstrates how choices of data center sites can reduce emissions.

In our supplier selection process, Telia prioritizes partners that are committed to using renewable energy. Collaborating with AWS can help Telia Smart Connect reduce emissions by up to 16%.

In brief Priorities and goals Actions Opportunities Risks Other 17

Collaborations to scale impact We believe that addressing the systemic issue of climate change requires collective action and collaboration beyond our value

chain. Collaboration and partnerships across our industry, and with external organizations, will increase our capabilities and broaden our perspectives. In turn, this will help us

to innovate and deliver result faster. As part of our Climate Transition Plan, we will continue to seek out partnerships and

collaborations with stakeholders who share our sustainability ambitions.

GSMA - the global industry association for mobile operators is engaged in developing sustainability-related guidance for several areas, most notably human rights and climate. Telia actively contributes to the GSMA's Climate and Circularity working groups, helping to

set industry guidance and align ambitions. In 2025, Telia also contributed to the GSMA's Climate Transition Planning Guidance for telecommunication operators.

Exponential Roadmap Initiative (ERI) - Within the ERI, Telia collaborates with global companies like Ericsson, IKEA, BT Group and Unilever through the 1.5°C Supply Chain Leaders partnership to drive climate action in global supply chains. Our engagement includes supporting the development of science-based guidance for value chain decarbonization and collaborating on tools that help companies scale climate solutions. As a founding member, Telia drives collective progress, strengthens sector alignment and promotes standards that enable innovation and measurable emissions reduction.

Joint Alliance for CSR (JAC) - is an association of telecommunication operators collaborating to develop and implement sustainability standards in their supply chains. Through JAC, members such as Telia share resources and best practices to improve sustainability work in telecommunication supply chains. JAC enables members to work together to assess, verify and improve standards as well as identify supplier sites to audit.

In action: SME Climate Hub

Telia supports the SME Climate Hub, a climate action platform dedicated to small

and medium-sized enterprises that provides simplified tools and practices to enable these companies to commit to the 1.5°C pathway.

Supplier commitments made via the SME Climate Hub are integrated into Telia's

supplier assessment processes and contribute to the monitoring of progress against our scope 3 emissions reduction ambition.

The SME Climate Hub is an initiative of the We Mean Business Coalition, co-founded

and operated in partnership with the Exponential Roadmap Initiative and the UN Climate Change High Level Champion's Race to Zero campaign.

Supporting SMEs in climate

transition

Given that 40-50% of global GHG emissions originate from small and medium-sized enterprises (SMEs), we have chosen to support the development of methods for SMEs to reduce their emissions. SMEs have several challenges in terms of sustainability, such as limited financial resources and lack of expertise. Therefore, we support and encourage our smaller suppliers to join the SME Climate Hub.

Telia's engagement has focused both on helping more SMEs to find the platform, and on contributing to its development through internal analysis and a pilot test with one of our suppliers, who is also a Telia customer.

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In brief Priorities and goals Actions Opportunities Risks Other 18

Beyond Telia's own operations and those of our value chain, several studies, such as the Exponential Roadmap report, have shown that connectivity and digital solutions have the potential to improve resource efficiency and reduce GHG emissions across sectors.

As a result, there is an opportunity for Telia in scaling IoT and 5G solutions that help customers and societies to decarbonize. Digitalization

in general can accelerate the circular shift by enabling various sectors to use energy, fuel, water and other resources more efficiently. Since 2020, Telia has tracked "enablement effects" for some of our products and services, specifically remote meeting and IoT solutions for buildings, transport and utilities. Based on products and services delivered during 2025, we estimate that these categories enabled GHG emission reductions of approximately 397,443 tCO₂e in 2025.

Telia also measures energy reductions enabled by IoT. Many of the markets in which Telia operates have domestic electricity production with a

high share of renewables. Therefore, for some

applications the carbon enablement effect may be lower than in other geographies. However, electricity savings for such services are just as important to achieve, in order to enable the full phasing out of fossil fuels in the grid systems and to limit other types of environmental impacts. We estimate that in 2025, we enabled energy savings of almost 1,994 GWh through IoT solutions for smart buildings and utilities.

In action: Smart solutions drive sustainability for Pohjolan Liikenne

Pohjolan Liikenne, a leading public transport operator in Finland, is leveraging Telia's

digital Smart Public Transport tools to enhance sustainability and efficiency. By equipping buses with Telia's onboard computer and services, they can monitor and manage various aspects of their operations in real time. Vehicle Climate Management automatically adjusts the bus onboard temperature to avoid unnecessary heating or cooling, thus saving energy and reducing GHG emissions. EcoDriving provides drivers with realtime feedback on driving habits, promoting more fuel-efficient and environmentally friendly driving. Automatic Passenger Count helps optimize bus schedules based on demand, further reducing operational costs and emissions. Through these solutions, Pohjolan Liikenne can achieve energy savings, lower GHG emissions and cut costs, all while enhancing the passenger experience.

In action: Stockholm Exergi powers energy efficiency with real-time IoT data

Stockholm Exergi provides district heating to more than 800,000 residents across

Stockholm. With Telia's robust IoT Edge Gateway, developed for critical infrastructure, over 15,000 residential apartment buildings are now connected, enabling Stockholm Exergi to collect temperature data from apartment sensors and manage district heating distribution. The real-time temperature data, combined with AI-driven analysis of weather forecasts and historical demand, enables energy production to be aligned with actual needs while reducing energy peaks. As a result, Stockholm Exergi has been able to optimize energy production and reduce CO2 emissions. For apartment building residents, the solution delivers a more stable indoor climate and, through this data-driven approach, achieves a 6-10% reduction in energy consumption and costs, while supporting Stockholm Exergi's goal of a more sustainable and circular district

heating system.

In addition to the above, the underlying connectivity we provide enables further reductions that are indirect or more distant and more difficult to capture. For example, as a connectivity provider we enable solutions provided by other digital players, including new sharing economy business models that significantly reduce both GHG emissions and resource use. Examples are remote work, online shopping and accommodation sharing. Telia envisions increasing numbers of customers demanding enabling solutions that help them reduce their emissions, and we intend to develop these offerings further.

https://exponentialroadmap.org/exponential-roadmap/

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In brief Priorities and goals Actions Opportunities Risks Other 19

Climate change is associated with intensified and new risks for people and companies, requiring a proactive approach to climate adaptation for business resilience. The main risks identified by Telia in relation to climate change are connected to expectations on the product portfolio, supply of renewable energy at reasonable cost and the risk of network disruptions from weather events. Climate-scenario analysis is an integral part of our overall risk management and strategic planning process.

by past extreme weather events. Climate risk considerations are also integrated into network planning and infrastructure development. Extreme weather events like heatwaves, storms and heavy precipitation may increase costs and asset losses. Further details on the assessment methodology are provided in Telia's Annual Report.

Through ongoing adaptation activities, Telia is strengthening its ability to ensure business

• Expectations related to data centers/technology sites and networks

• Expectations related to the company's overall resilience.

  Transition events in stakeholder expectations will relate to:

• Telia's products and services: expected to be low-carbon, circular, energy-efficient and with

  In 2025, Telia has updated our Group-wide climate risk assessment to capture our exposure to climate risk as accurately as possible. This helps us to identify, evaluate and manage climate-related risks and opportunities that may impact the company's financial stability and operational continuity, while offering us a clear view of how we should prioritize our actions. The assessments address both physical and transition risks. Risks covered include changes in regulation, customer and/or investor behaviour, and partner and stakeholder concerns.

  Potential financial effects and risk-mitigation measures have been reviewed as part of the assessments, but reliable quantitative estimates have not been provided by the analysis. Climate scenario analysis has supported the process, helping to assess relevant environmental, societal, and technology-, market- and policy-related developments related to rising temperatures.

  Physical climate risk assessment

  In 2025, Telia updated its physical climate risk assessment across all markets, based on data from the Swedish Meteorological and Hydrological Institute (SMHI) and the IPCC Fifth Assessment Report. The assessment, which extends to

  2040, evaluates multiple climate scenarios and temperature thresholds to identify the most relevant physical risk indicators for the Nordic and Baltic regions, including the intensity of heatwaves, wind speeds and precipitation patterns.

  The analysis shows that rising temperatures will increase the frequency and severity of heatwaves, which in turn elevates cooling needs for critical infrastructure. Power outages and connection disruptions remain the primary operational implications of physical climate risks. These

  risks are continuously monitored and managed through Telia's Business Continuity Management processes, with preventive measures informed

  continuity and maintain resilient operations despite extreme weather events.

  Transition risk assessment

  Transition risks and opportunities arise from changes in market conditions, stakeholder expectations, regulatory frameworks and consumer behavior driven by climate change. Telia's transition risks are assessed over short- (1-3 years), medium- (3-5 years), and long-term (5+ years) time horizons, aligned with our Enterprise Risk Management (ERM) framework.

  The transition risk assessments are based on a climate scenario where global warming is limited to a maximum of 1.5°C above pre-industrial levels.

  The identified transition events will primarily impact Telia in regard to:

• Expectations related to Telia's products and services

  correct environmental information

• Telia's data centers and networks: expected to share energy efficiency and GHG performance transparently, show that the company can ensure access to renewable energy and demonstrate fair energy consumption

• Telia's overall resilience: expected to have a trustworthy transition plan in place that describes robust planning to support the resilience of the company.

Resilience and financial implications Telia's annual risk assessment process is used to identify, assess and manage risks, as well as for the assessment of such risks, across the business. Several risks highlighted through the double materiality assessment are already integrated into Telia's ERM framework and risk-assessment tools.

In recent years, Telia has conducted targeted studies to strengthen business resilience,

In brief Priorities and goals Actions Opportunities Risks Other 20

particularly in relation to environmental risks. Environmental resilience is now increasingly embedded into operational processes, sourcing practices and Business Continuity Management. Knowledge gained from trend and risk analyses has influenced strategic priorities, for example by expanding circular offerings and strengthening supply-chain actions to build long-term resilience, ensuring that Telia is well-prepared for climate change.

Telia's business model is considered resilient to climate change, with no major short- to medium-term adjustments anticipated. Because the majority of Telia's emissions occur in scope 3, long-term adaptation will depend significantly on the company's partners and suppliers.

Longer-term, more strategic, shifts require time, coordination and review by internal stakeholders to adjust to the company strategy as needed. Telia monitors short-term risks (within one year) to track mitigation efforts and adapt quickly. Medium-term risks (one to five years) are aligned with financial planning, ensuring associated risks and costs are considered. Long-term risks (over five years) are

Telia's financial exposure to energy-related risks is judged to be low, due to ongoing efforts to control energy costs and improve energy efficiency.

Transition risk related to the product portfolio could require additional investments in capital expenditure (CAPEX) and operational expenditure (OPEX) to develop new products and meet

Telia's climate risk assessment and climate-related work have not indicated exposure to business activities or assets that could lose economic

value due to the impacts arising from regulatory, technological or market shifts caused by the transition to a climate-neutral economy.

Ongoing development of climate risk management

We continue to refine the risk assessment methodology to improve how we capture exposure to climate risks. Insights from the double materiality assessment inform business strategy development, and residual risk levels are reported to senior management and the Board of Directors. As climate change evolves, Telia's processes will continue to adapt to ensure that climate change considerations are embedded into our operational and strategic decision-making through robust planning that supports the company's climate resilience.

In line with the Corporate Sustainability Reporting Directive (CSRD), Telia's double materiality assessment evaluates both the financial impacts of climate risks and the company's impact on the climate. This comprehensive analysis provides Telia with a better understanding of the inherent impacts, risks and opportunities. The insights relating to climate change mitigation, adaptation and energy, presented in the table to the left, support ongoing business strategy development and enable timely decision-making.

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In brief Priorities and goals Actions Opportunities Risks Other 21

The Board of Directors holds ultimate responsibility for sustainability oversight and climate matters, deciding on the company's overall sustainability direction and

policy commitments. The setting of climate related targets is handled through Group Executive Management (GEM) and Board of Directors' discussions, and is decided by the Board of Directors. GEM collectively owns Telia's environmental agenda, and its members are responsible for assessment and management of climate-related matters, including strategic business decisions, target-setting and execution.

Role Governance/Steering bodies

Oversight

The Group Policy - Environment is Telia's guiding document for managing our climate work. The main purpose of the Policy is to help ensure that Telia manages environmental-related impacts, risks and opportunities throughout our value chain, while explaining how Telia meets legal and stakeholder requirements and expectations

in this area.

The Policy applies to Telia Company AB, its subsidiaries and joint operations, and is signed by the Telia Company Board of Directors. Telia applies a structured management approach through market-level ISO 14001 and other management standards. The Policy is updated on an annual basis.

Telia's GEM owns and is responsible for all Group Policies, Group Instructions and risk mitigations as decided in the Governance, Risk, Ethics and

Compliance (GREC) Committee. Roles and responsibilities are delegated through Telia's Delegation of Obligation and Authority (DOA).

Governance over Telia's climate work Sustainability performance updates are provided to the Board of Directors six to eight times a year as part of the Board's meeting agenda. Information on key issues is also provided through the CEO's quarterly updates as well as external quarterly reports. Group Sustainability provides the Board members with additional orientation on climate topics at least once a year.

Each of Telia's country operations is responsible for contributing to GHG emissions reduction (relative to the size of their business and volume of emissions), including securing necessary resources as part of the business and financial planning process. Telia's countries and Group Functions

Accountability

Sustainability leads in country and identified key units

Corporate implementation

Region/local/BU implementation

have created individual GHG reduction plans as an integrated part of their strategic planning. In 2025, as part of the company's 2028 strategy work, the countries included operational plans for sustainability in their specific strategy work. Follow-up on GHG emissions reduction progress, actions and gaps is carried out in quarterly sustainability reviews by GEM. In addition, a sustainability steering committee facilitates continuous strategic work, finds solutions related to sustainability barriers, risks and opportunities, and engages GEM as needed.

Telia's overall sustainability agenda and ambitions are closely integrated into the company's business strategy. As the strategy and business model evolve, we ensure alignment with the transition to a sustainable economy.

This Climate Transition Plan has been approved by the Board of Directors in Q1 2025, with additions and updates made during Q1 2026. Each

year, we report progress on Telia's climate and environmental targets in our Annual Report under the Sustainability Statements, which is limited assured.

Implementation and internal coordination are supported through established governance forums, run by Group Sustainability. The Sustainability Leads Forum and the Environmental Leads Forum meet monthly to monitor progress, share knowledge, escalate issues, and ensure alignment across functions and countries. A specifically appointed Senior Project Manager sets the climate strategy together with relevant stakeholders and translates it into execution.

Ongoing internal communication strengthens

accountability and supports culture-building across Telia. Employees are engaged through sustainability-related Microsoft Teams channels, internal news platforms, office screens and internal broadcasts.

Country organizations are responsible for driving the implementation of the Climate Transition Plan in local markets. The country organizations

regularly deliver trainings and events for business and product leaders and engage employees through local internal communication channels. Country teams also actively engage in supplier and customer meetings, supporting execution of climate actions across the local market value chain and reinforcing transition-aligned behaviors in daily operations.

Delivery of the Climate Transition Plan depends on building a culture that enables and sustains change. A culture aligned with climate transition supports the translation of strategic ambitions into everyday decision-making, behaviors and ways of working across the organization. At Telia, culture development is therefore approached as an

ongoing enabler of the transition, supporting longterm implementation, adaptability and resilience as climate-related requirements, expectations and business conditions evolve.

Telia works to embed climate considerations into business processes, leadership practices and performance dialogues. Leadership engagement, continuous learning and workforce activation are key elements in reinforcing shared accountability for meeting transition objectives. By strengthening climate-related capabilities and encouraging ownership at all levels of the organization, Telia

In brief Priorities and goals Actions Opportunities Risks Other 22

In action: A just transition from 2G & 3G

As Sweden phases out 2G and 3G networks,

Telia has chosen to postpone the full shutdown of its 2G infrastructure until 2027 to ensure enough time for a controlled transition for our customers. While a more rapid closure would deliver immediate energy and cost savings, vulnerable groups could be impacted, since essential services, such as home and safety alarms for the elderly and vehicle connectivity, are still relying on 2G.

Telia has taken on extra costs to give households, businesses and public services time to upgrade and adapt to the change. We're also partnering with the information campaign BytNät.nu to help increase awareness of the shutdown. In addition, dismantled network equipment is recycled through certified partners.

aims to ensure that employees are empowered to contribute to the execution of the Climate Transition Plan within their respective roles.

A just transition

We seek to deliver a just climate transition that does no significant harm to the communities and people that we serve, or to the environment.

Our climate transition could impact others in the social and environmental ecosystem within which we operate, and upon which we are

interdependent. We are committed to identifying and managing any risks resulting from our climate transition activities. We will engage with relevant stakeholders to listen to their viewpoints and learn how we can deliver our transition whilst safeguarding their needs.

Telia's commitment to digital inclusion and skills learning is important to enable a just transition, and to ensure everyone can participate in

an increasingly digital - and hopefully more sustainable - society, and make use of the digital solutions we provide, which can decrease a society's climate footprint.

The UNICEF Children's Climate Risk Index shows that climate change is a major concern for children and young people. Climate change and the unsustainable use of natural resources therefore already have a major impact on children's safety, health and well-being, and will fundamentally impact future generations. Telia's commitment

to achieving net-zero emissions by 2040 is a response to this. We already view the ongoing climate crisis as one of the greatest threats to human rights, including children's rights.

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Financial impacts of implementing actions

The financial effects of climate initiatives are integrated into Telia's operational plans, mainly covering operational activities such as renewable energy investments, facility upgrades, energy efficiency and electric vehicles (scopes 1 and 2).

The main focus of the Climate Transition Plan is on Telia's value chain, and suppliers in particular (scope 3). Telia is engaging with and supporting

suppliers in taking action to set emission reduction targets and drive transition activities. Telia's view

is that it does not need to, and should not, finance these activities. Hence, the company currently sees a limited need for additional financing to implement the Climate Transition Plan.

Certain ongoing internal actions that affect the Climate Transition Plan have financial implications. Telia allocates SEK 1,033.3 million in operating expenses (OPEX) and SEK 996.3 million in

capital expenditures (CAPEX) to climate change mitigation and circular economy initiatives, which is described in the taxonomy reporting in the annual report. Other activities include SEK 4.9 million for renewable electricity purchases and financing of SEK 11,858 million through green bonds. These investments support Telia's transition to a low-carbon business model and reflect its commitment to transparency through regular reporting on fund allocation and climate impact.

If implementing the initiatives outlined in the Climate Transition Plan requires further allocation of resources or investment, this will be integrated into Telia's financial planning. Any material impact on the financial statements will be identified and disclosed, if appropriate, in line with Telia's existing

approach to financial reporting and associated standards.

Green bonds

Telia is exploring innovative mechanisms such as green bonds to raise capital for projects that support the transition to a low-carbon operation. Telia has developed a Green Bond Framework under which Telia Company issues green bonds. The company's commitment to transparency includes regular reporting on the use of these funds and their impact on our overall climate strategy.

Sustainability-linked loan

Telia has integrated sustainability into its financing through a sustainability-linked revolving credit facility, where the loan margin is tied to performance on key sustainability indicators such as progress on climate-related targets.

Climate and energy management systems

The Telia Management System is developed in accordance with several international standards. The management system is certified according to several ISO standards, but certificate scopes vary according to market requirements.

All our markets are covered by the ISO 14001 environmental management system standard. In addition, our energy management certifications include STEMFS in Sweden and ISO 50001 in Finland, Lithuania and Estonia.

Climate-related incentives

GHG emission reduction is one of seven company KPIs and one of three non-financial KPIs. Members of GEM have sustainability goals integrated with their personal development plans and annual

objectives and key results (OKRs). Telia's GEM members do not receive variable pay, either monetary or non-monetary, by request of the company's largest owner, the Swedish state. However, sustainability targets are included in the long-term incentive program applicable to senior employees (approximately 250 people).

This set-up ensures sustainability-related aspects to be integrated into the annual performance evaluation of senior employees, and supports Telia's efforts to deliver on our sustainability goals. 15% of the long-term incentive program is related to sustainability KPIs. The climate goal, as detailed below, represents 5% of the long-term incentive program. For the program starting in 2026, an absolute GHG emission reduction target on scope 3 emissions will be part of the LTI program.

Locked-in emissions

Telia has not conducted a detailed study of

its locked-in GHG emissions. These emissions are mainly related to scope 3. Network and

IT equipment, as well as customer hardware, are fundamental for Telia's business and have a lifetime of multiple years. For most of this equipment, the company has the flexibility to change commercial arrangements. However,

for operational purposes some investments are multiyear commitments and thereby lock in a

certain amount of emissions. Telia is aiming to make improvements in this area.

Feedback mechanism

During the year, representatives of the company regularly meet investors and shareholders to present and discuss Telia's goals, plans and progress in relation to sustainability in general, and climate in particular. During these meetings, and through other channels such as email dialogue, the company receives investors' and shareholders' feedback on the goals and plans.

The Climate Transition Plan is publicly available for all stakeholders, including shareholders and investors. Shareholders can submit feedback or questions on strategic plans, including Telia's Climate Transition Plan, by contacting the investor relations team through Telia's website. Telia is committed to reporting on progress in delivering on this plan on an annual basis, and estimates that the plan will evolve as learnings are integrated.

Forward-looking information

Forward-looking information has been prepared on the basis of assumptions relating to events that may occur in the future as well as possible actions by Telia. Actual outcomes are likely to be different, since anticipated events frequently do not occur as expected.

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In brief Priorities and goals Actions Opportunities Risks Other 24

Calculating and measuring GHG emissions

Telia uses a combination of emission reporting approaches, including industry average, supplier-level and activity-/product-level calculation methods. The main sources for emission factors are IEA, BEIS and CEDA. Our emission reporting is aligned with the Greenhouse Gas Protocol

and GSMA guidance. We annually disclose our scope 1, scope 2 (market-based and location-based) and scope 3 GHG emissions. On July 1, 2025, Telia completed the divestment of its TV & Media operations. Data for this unit are therefore included only for the first half of 2025.

Scope 1 and scope 2 calculations are based on own energy consumption and refrigerant leakages.

From 2024 onwards, Telia has improved the scope 2 emission calculation for district heating in Sweden and Finland by changing from BEIS factors to nation- or city-specific emission factors.

The Corporate Value Chain (scope 3) Standard was applied to calculate all 15 categories of scope 3 emissions. The most material categories for Telia are:

• Scope 3 category 1: Purchased goods and services - based on OPEX costs, e.g. emissions generated by network construction and maintenance (field services), purchased mobile phones and other hardware.

• Scope 3 category 2: Capital goods - based on CAPEX costs, e.g. purchased network equipment.

  To calculate the most material categories, Telia uses the following calculation methods:

• Industry average - calculates emissions using global industry-average emission factors (source: CEDA) multiplied by spend

• Supplier level - utilizes reported emissions (scope 1, scope 2 and scope 3 upstream categories) from different suppliers divided by the supplier's revenue and multiplied by spend

• Product/product category level - calculates emissions based on the average emissions of different product categories (e.g. mobile phones, laptops, tablets etc.) or specific

products multiplied by the number of products purchased.

Scope 3, categories 1-7 and 11-15 are included in Telia's inventory. Excluded are:

Category 8: leased car fleet, which is reported under scope 1

Category 9: all logistic activities are included in category 4 - Telia does not pay for any downstream transportation or distribution Category 10: Telia does not sell any interim

products, where downstream processing would be applicable.

Key factors in our scope 3 emissions are improvements in the quality of data inputs, emission factors and calculation methods. We continue to invest in improving the quality, accessibility and availability of carbon footprint data to enable better measurements and

Major data updates to the Climate Transition Plan

Significant changes to Telia's business - for example, mergers, acquisitions or divestments - could affect our trajectory towards our climate goals.

During 2025, Telia has re-calculated our base-year 2018 emissions due to company divestments that changed

Telia´s operational boundaries.

This recalculation affected all scope 1-3 emissions and the previously reported progress against the base year. This has affected our numbers, but not the long-term targets nor the path we have embarked on to reduce our GHG emissions.

reductions of scope 3 emissions.

Carbon and energy enablement Currently, no standards exist for enablement calculations. Telia focuses on calculating the enablement effect of our remote meeting services and IoT offerings. Additional information about the methodology, including underlying assumptions, is available in the methodology paper on our website.

Telia Company AB (publ)

Mailing address: 169 94 Solna, Sweden Visiting address: Stjärntorget 1, Solna, Sweden Corporate Reg. No.: 556103-4249

Registered office: Stockholm Telephone: +46 771 990100 https://www.teliacompany.com

More information about Telia and its strategy can be found on Telia's website.

Published March 2026

Production: Telia Company AB in cooperation with Miltton