Capital Markets Day Roxanna Zea, Chief Strategy Officer

December 12, 2012

7 Tele2 Capital Markets Day 2012

XX State of our Industry

SLOW

BUMPS

AHEAD

8 Tele2 Capital Markets Day 2012

Revenue growth in Telecoms is slowing

Source: © McKinsey analysis, Oct 2012

Revenue growth of Top 30 Telcos by Region: CAGR (%)

Europe

Historical Revenue Growth Current Trajectory

7.3 7.3

-0.6

Americas

11.5 9.9

1.4

Asia-Pacific

10.7

7.9

3.2

1990 - 2002 2002-2009 2009 – 2013E

9 Tele2 Capital Markets Day 2012

Telecom environment

Services Devices Access

Competitive environment

Regulatory development

Technology development

All claiming customer ownership for the same

Customers

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XX

2bn online 5bn mobiles 800 exabytes (x1018)

2012 5bn online

10bn mobiles 53 zettabytes (x1021)

2020

Exponential data growth is still accelerating

11 Tele2 Capital Markets Day 2012

A multi-screen world

12 Tele2 Capital Markets Day 2012

Revenue growth in Telecoms is slowing

Source: © McKinsey analysis, Oct 2012

Revenue growth of Top 30 Telcos by Region: CAGR (%)

Europe

Historical Revenue Growth Current Trajectory

7.3 7.3

-0.6

Americas

11.5 9.9

1.4

Asia-Pacific

10.7

7.9

3.2

1990 - 2002 2002-2009 2009 – 2013E

Q3 ‘09 YTD

– Q3 ’12 YTD

3.4

13 Tele2 Capital Markets Day 2012