SECOND QUARTER 2012

Tele2 AB 19 July 2012 Agenda

• About Q2 2012

• Financial review

• Concluding remarks

2 Group Q2 Highlights

• Net customer intake of 1.5 million leading to a total customer base of 36.3 million

• Revenue growth of 10%, amounting to SEK 11,064 (10,078) million

• EBITDA amounted to SEK 2,715 million, equivalent to a margin of 25%

• CAPEX amounted to SEK 1,586 million

3 Market Area Russia: Overview

Population Appr. 140 million Tele2 Russia . 43 regions of Russian Federation . 21.6 million subscribers . Mobile operator #4 in Russia in terms of subscribers and revenue Represents 30% of total net sales Q2 2012

Focus . Continue to grow customer base and maximize the 2G opportunity . Evaluate possibilities to expand carefully through new licenses as well as by complementary acquisitions . Make progress on technology neutrality

4 Q2 Highlights Russia

• Strong customer net intake of 693,000 • Increased EBITDA margin of 37% due to less marketing spend • Robust ARPU development, showing a growth of 5%

CUSTOMER BASE and NET SALES and EBITDA and CUSTOMER INTAKE YoY NET SALES GROWTH EBITDA MARGIN Thousands of customers SEK Million SEK Million 22,000 800 4,000 20% 1,600 42%

40% 21,000 600 3,000 15% 1,200 38% 20,000 400 2,000 10% 800 36% 19,000 200 1,000 5% 400 34%

18,000 0 0 0% 0 32% Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12

Customer base (left) Net sales (left) EBITDA (left) 5 Customer net YoY net sales EBITDA intake (right) growth (right) margin (right) The Russian mobile market overview

TELE2 SUBSCRIBERS AS PART OF TOTAL RUSSIAN MOBILE MARKET NET ADDITIONS Tele2 MegaFon Vimpelcom MTS Tele2 Million subscribers Thousands of subscribers 250 8.6% 9.3% 8,000 5.6%5.6% 7.3% 6,000 200 4,000 150 2,000 0 100 -2,000 50 -4,000 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 09 09 09 09 10 10 10 10 11 11 11 11 12 09 09 10 10 10 10 11 11 11 11 12 12

ARPU DEVELOPMENT Tele2 MegaFon TELE2 RUSSIA EBITDA MARGIN RUB Vimpelcom MTS 400

2010 2011 2012 44% 300 5% growth 229 40% 200 36%

100 32%

0 28% 2006 2007 2008 2009 2010 Q1 Q2 Q3 Q4 Q1 Q2 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 11 11 11 11 12 12

6 Source: Company data, AC&M Consulting Revenue source development

VOICE and DATA REVENUE SPLIT DEVELOPMENT

RUB millions 16,000

8% 8% 8% 9% 12,000 8%

8,000 92% 92% 92% 92% 91% 4,000

0 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Data access Voice revenue revenue

Data and voice revenues demonstrate 8% and 15% YoY growth respectively

7 Regulatory update: significant developments

LTE license tender Regional LTE allocations Roscomnadzor held tender on LTE for 4 The Regulator officials have recently verbally federal lots, each 2x7.5 MHz in 800 MHz and stated that they plan to distribute 10 regional 2x10 MHz in 2.5-2.7 GHz. Tele2 submitted two TDD LTE licenses in 2600 Mhz. According to bids. However, Tele2 did not win due to tender the Ministry representative this decision may conditions favoring federal operators. be taken at the forthcoming GKRCh** meeting.

Technology neutrality MNP Consultations Report from NIIR* ready confirming LTE and The Prime Minister assigned the direction for GSM can co-exist on the same band. discussions on the MNP introduction. Tele2 According to the Telecom Ministry delivered proposals on the draft bill and representative LTE 1800 should be included in participated in the working group on the the agenda for the next GKRCh** meeting technical solution. The expected deadline for MNP introduction is Jan, 2014

* NIIR – Radio Research and Development Institute 8 ** GKRCh – State Commission on Radio Frequencies Tele2 Russia forward looking statement

The following assumptions should be taken into account when estimating the operational performance of the total operations in Russia in 2012:

• Tele2 expects the subscriber base to reach approx. 22 (earlier 21.5-22) million.

• Tele2 expects ARPU to grow by 3-5 (earlier in low single digits) percent in local currency.

• Tele2 expects an EBITDA margin of between 37-39 percent.

• Tele2 expects capex of between SEK 1,300 - 1,500 million.

9 Market Area Nordic: Overview

Population 14.4 million

Tele2 Sweden and Tele2 Norway Home market and test bed for new services Represents 40% of total net sales Q2 2012 Sweden 29%; Norway 11%

Focus . Sweden: Build on mobile growth and 4G roll-out coupled with household / corporate fiber strategy . Norway: Roll out own network and focus on bucket-price subscriptions

10 Q2 Highlights Tele2 Sweden

• Net sales amounted to SEK 3,209 million and EBITDA amounted to SEK 766 million • Mobile revenue grew by 6% and service revenue grew by 2.3% • Net intake in Q2 boosted by temporary campaign on postpaid subscriptions • Affecting EBITDA negatively during the quarter • New, more diversified pricing plans and innovative products

CUSTOMER BASE and NET SALES and EBITDA and CUSTOMER INTAKE YoY NET SALES GROWTH EBITDA MARGIN Thousands of customers SEK Million SEK Million 4,900 80 4,000 4% 1,000 40%

4,800 40 3,000 2% 750 30%

4,700 0 2,000 0% 500 20%

4,600 -40 1,000 -2% 250 10%

4,500 -80 0 -4% 0 0% Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12

Customer base (left) Mobile Fixed broadband Fixed telephony Other 11 Customer net YoY net sales EBITDA intake (right) growth (right) margin (right) New tariff models

Volym Låg Volym Mellan Volym Hög

• 300 minminutes • 1000 minutes • 3000 minutes • 300 SMS & • 1000 SMS & • 3000 SMS & MMS MMS MMS • 1 GB data • 3 GB data • 5 GB data

12 Innovative packages and products

Prepaid Roaming WyWallet +46 app smartphone buckets campaigns

13 Smartphone market development

SMARTPHONE INSTALLED BASE*

100% Sales of top ten mobile phones 90% Tele2 Sweden (Q2 2012) 80% 70% 1. iPhone 4S 16GB 60% 50% 2. Samsung Galaxy Gio 40% 3. HTC One X 30% 4. S 20% 10% 5. Samsung Galaxy S2 0% 6. Samsung Galaxy S3 1106 1107 1108 1109 1110 1111 1112 1201 1202 1203 1204 1205 1206 7. Samsung Galaxy S2 LTE Regular handset Smartphone 8. Samsung Galaxy Ace 9. Samsung E1080 10. iPhone 4S 32GB

* Postpaid residential, quantity of handsets 14 Mobile EBITDA development

300 35% 34% 40% 33% 29%

30% 200 17% 16% 20%

100 10%

0 0% Jan AC Feb AC Mar AC Apr AC Maj AC Jun AC

EBITDA EBITDA margin adjusted (secondary axis)

15 Tele2 Sweden forward looking statement

The following assumptions should be taken into account when estimating the operational performance of the Swedish mobile operations in 2012:

• Tele2 expects service revenue to grow by approximately 3-4 (earlier 3-5) percent.

• Tele2 expects an EBITDA margin of between 30-32 percent assuming a stable market environment.

16 Q2 Highlights Tele2 Norway

• Integration of Tele2 Norway completed • Good net intake of 23,000 mobile customers • Tele2 Norway reported net sales of SEK 1,208 million, of which SEK 1,137 million was mobile revenue • Mobile EBITDA contribution was SEK 81 (15) million • Interconnect was lowered by July 1 to NOK 0.25 (0.40) and NOK 0.60 (0.70) for Tele2 Norway and Network Norway respectively

CUSTOMER BASE and NET SALES and EBITDA and CUSTOMER INTAKE YoY NET SALES GROWTH EBITDA MARGIN Thousands of customers SEK Million SEK Million 1,600 20 1,600 80% 100 10%

1,200 10 1,200 50% 50 5%

800 0 800 20% 0 0%

400 -10 400 -10% -50 -5%

0 -20 0 -40% -100 -10% Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12

Customer base (left) Mobile Fixed broadband Fixed telephony Other 17 Customer net YoY net sales EBITDA intake (right) growth (right) margin (right) Tele2 Norway forward looking statement

The following assumptions should be taken into account when estimating the operational performance of the total operations in Norway in 2012:

• Tele2 expects a total revenue of between SEK 4,800-5,000 (earlier 5,000-5,200) million.

• Tele2 expects an EBITDA margin of between 2-3 percent.

• Tele2 expects capex of between SEK 850-950 million.

18 Market Area Western Europe: Overview

Population 106 million

Leading the group in business to business services and consumer fixed broadband Represents 17% of total net sales Q2 2012 Netherlands 12%; Germany 2%; Austria 3%

Focus . Netherlands Grow in mobile and B2B . Austria B2B & Integration of Silver Server . Germany Grow Fixed Via Mobile product

19 Q2 Highlights Tele2 Netherlands

• Stable financial performance despite tough market conditions • Back to growth in total customer base • Net intake of 32,000 customers in mobile − Significant portion in high-value mobile post- paid segment • Strong intake in the B2B segment

CUSTOMER BASE and NET SALES and EBITDA and CUSTOMER INTAKE YoY NET SALES GROWTH EBITDA MARGIN Thousands of customers SEK Million SEK Million 1200 20 1,600 10% 800 40%

900 5 1,200 5% 600 30% 400 20% 600 -10 800 0% 200 10% 300 -25 400 -5% 0 0% Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 0 -40 0 -10% -200 -10% Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12

Customer base (left) Mobile Fixed broadband Fixed telephony Other 20 Customer net YoY net sales EBITDA intake (right) growth (right) margin (right) Q2 Highlights Tele2 Germany and Tele2 Austria

• Both Austria and Germany show stable profitabilty • Tele2 Germany: High-value Fixed via Mobile product still showing steady growth • Tele2 Austria: Integration of Silver Server on track. Solid performance in the B2B segment

TELE2 GERMANY TELE2 AUSTRIA EBITDA and EBITDA MARGIN EBITDA and EBITDA MARGIN SEK Million SEK Million 120 40% 120 40%

90 30% 90 30%

60 20% 60 20%

30 10% 30 10%

0 0% 0 0% Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12

EBITDA (left) EBITDA (left) 21 EBITDA EBITDA margin (right) margin (right) Market Area Central Europe and Eurasia: Overview

Population 28 million Represents 12% of total net sales Q2 2012 Estonia 2%; Latvia 2%; Lithuania 3%; Croatia 3%; Kazakhstan 2%

Focus . Continue to grow rapidly in Kazakhstan . Efficiency improvements in Baltics . Drive improvement in revenue, profits and market share in Croatia

22 Q2 Highlights Tele2 Estonia

• Stable financial performance and profitability in a competitive market • Tele2 Estonia maintains a positive net intake of mobile customers • Successful integration of Televörgu completed • Modernization and 4G roll-out currently ongoing

MOBILE CUSTOMER BASE NET SALES and EBITDA and and CUSTOMER INTAKE YoY NET SALES GROWTH EBITDA MARGIN Thousands of customers SEK Million SEK Million 600 30 300 20% 80 40%

450 20 225 10% 60 30%

300 10 150 0% 40 20%

150 0 75 -10% 20 10%

0 -10 0 -20% 0 0% Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12

Mobile customer base (left) Net sales (left) EBITDA (left) 23 Customer net YoY net sales EBITDA intake (right) growth (right) margin (right) Q2 Highlights Tele2 Latvia

• Tele2 Latvia maintains a high efficiency in a competitive market • EBITDA margin amounted to 36% • Customer intake of 11,000 • Rolling out 4G when commercially attractive

CUSTOMER BASE and NET SALES and EBITDA and CUSTOMER INTAKE YoY NET SALES GROWTH EBITDA MARGIN Thousands of customers SEK Million SEK Million 1,200 40 400 -5% 120 40%

900 20 300 -10% 90 38%

600 0 200 -15% 60 36%

300 -20 100 -20% 30 34%

0 -40 0 -25% 0 32% Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12

Customer base (left) Net sales (left) EBITDA (left) 24 Customer net YoY net sales EBITDA intake (right) growth (right) margin (right) Q2 Highlights Tele2 Lithuania

• Significant intake of 20,000 mobile customers • EBITDA margin amounted to 38% • Strong performance since inception in 2000

MOBILE CUSTOMER BASE NET SALES and EBITDA and and CUSTOMER INTAKE YoY NET SALES GROWTH EBITDA MARGIN Thousands of customers SEK Million SEK Million 2,000 35 400 5% 160 50%

1,500 25 300 0% 120 40%

1,000 15 200 -5% 80 30%

500 5 100 -10% 40 20%

0 -5 0 -15% 0 10% Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12

Mobile customer base (left) Net sales (left) EBITDA (left) 25 Customer net YoY net sales EBITDA intake (right) growth (right) margin (right) Tele2 Lithuania – a success story

MARKET SHARE DEVELOPMENT MARKET SHARE DEVELOPMENT (revenue; 100% of the market) (EBITDA; 100% of the market)

60% 60%

50% 50%

40% 40%

30% 30%

20% 20%

10% 10%

0% 0% Q12007 Q22008 Q3-2009 Q4-2010 Q1-2012 Q12007 Q22008 Q3-2009 Q4-2010 Q1-2012

Tele2 Company A Company B Tele2 Company A Company B

Tele2 Lithuania has caught up with its competitors in terms of Revenue market share, and surpasses them in terms of EBITDA market share

26 Q2 Highlights Tele2 Croatia

• Significant intake of 43,000 mobile customers • New CEO started in June

CUSTOMER BASE and NET SALES and EBITDA and EBITDA-CAPEX CUSTOMER INTAKE YoY NET SALES GROWTH EBITDA MARGIN

Thousands of customers SEK Million SEK Million SEK Million

1,000 90 500 5% 60 12% 50

750 30 375 0% 45 9% 25

500 -30 250 -5% 30 6% 0

250 -90 125 -10% 15 3% -25

0 -150 0 -15% 0 0% -50 Q2 Q3 Q4 Q1 Q2 Q2 Q3 Q4 Q1 Q2 Q2 Q3 Q4 Q1 Q2 Q2 Q3 Q4 Q1 Q2 11 11 11 12 12 11 11 11 12 12 11 11 11 12 12 11 11 11 12 12

EBITDA Customer base (left) Net sales (left) EBITDA (left) CAPEX 27 Customer net YoY net sales EBITDA intake (right) growth (right) margin (right) EBITDA-CAPEX Tele2 Croatia forward looking statement

The following assumption should be taken into account when estimating the operational performance of the Croatian mobile operations in 2012:

• Tele2 expects Croatia to reach an EBITDA margin of between 4-6 (earlier 20 percent by Q3 2013) percent.

28 Q2 Highlights Tele2 Kazakhstan

• Commercial launch of Tele2 brand completed in all regions of Kazakhstan • Strong net intake of 759,000 customers • Total number of customers amounted to 2.5 million

CUSTOMER BASE and NET SALES and EBITDA and CUSTOMER INTAKE YoY NET SALES GROWTH EBITDA MARGIN

Thousands of customers SEK Million SEK Million 160 0% 2,500 1,000 300 550%

2,000 800 80 -100% 225 400% 1,500 600 0 -200% 150 250% 1,000 400 -80 -300% 75 100% 500 200 -160 -400% 0 0 0 -50% Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12

Customer base (left) Net sales (left) EBITDA (left) 29 Customer net YoY net sales EBITDA intake (right) growth (right) margin (right) The Kazakhstan mobile market overview

MOBILE SUBSCRIBERS – MARKET SHARE NET ADDITIONS Thousands of subscribers 1.8% 7.7% 100% 2,000

80% 1,500

60% 1,000

40% 500

20% 0

0% -500 Q3- Q4- Q1- Q2- Q3- Q4- Q1- Q2- 2010 2010 2011 2011 2011 2011 2012 2012

Tele2 Kcell/Activ Tele2 Kcell/Activ Dalacom/Pathword Dalacom/Pathword Beeline

30 Tele2 Kazakhstan forward-looking statement

The following assumptions should be taken into account when estimating the operational performance of the total operations in Kazakhstan in 2012:

• Tele2 expects the subscriber base to reach up to 3.0 million (earlier 2.5-2.7)

• Tele2 expects an EBITDA contribution of between SEK -350 to -400

• Tele2 expects capex of between SEK 550-600 million.

• Tele2 expects to reach EBITDA break-even by 2H 2013.

• Tele2 expects to reach a long-term mobile customer market share of 30 percent.

31 Agenda

• About Q2 2012

• Financial review

• Concluding remarks

32 Group results

SEK million Q2 2012 Q2 2011 % YTD 2012 YTD 2011 FY 2011 %

Net sales 11,064 10,078 9.8% 21,545 19,720 41,001 9.3%

EBITDA 2,715 2,809 -3.3% 5,286 5,353 11,212 -1.3%

EBITDA margin (%) 24.5% 27.9% -3.3% 24.5% 27.1% 27.3% -2.6%

Depreciation & associated companies -1,268 -1,015 24.9% -2,457 -1,985 -4,158 23.8%

Depreciation of net sales (%) -11.5% -10.1% -1.4% -11.4% -10.1% -10.1% -1.3%

One-off items -20 -57 -19 42 -4

EBIT 1,427 1,737 -17.8% 2,810 3,410 7,050 -17.6%

Normalized EBIT 1,447 1,794 -19.3% 2,829 3,368 7,054 -16.0%

Normalized EBIT margin (%) 13.1% 17.8% -4.7% 13.1% 17.1% 17.2% -3.9%

Financial items -321 -230 39.6% -499 -304 -674 64.1%

Taxes -257 -399 -35.6% -593 -772 -1,472 -23.2%

Net profit 849 1,108 -23.4% 1,718 2,334 4,904 -26.4%

Discontinued operations 1 5 -80.0% 1 -8 -7 -112.5%

Net profit 850 1,113 -23.6% 1,719 2,326 4,897 -26.1%

33 Currency movements Q2 2012

3%

2%

1%

0%

-1%

-2%

-3% EUR RUB NOK

Average YTD Q2 2012 vs. YTD Q2 2011 Fixing rate Jun 2012 vs. Dec 2011

EUR/EUR pegged and RUB currencies represent 54% of external sales and 74% of EBITDA

34 Depreciation

DEPRECIATION and DEPRECIATION % OF NET SALES Change Y-on-Y for Q2 SEK Million • Acquisition of Network 1,500 12.5% Norway (SEK 85 million) 12.0% of which surplus depreciation and 1,200 11.5% amortization of SEK 63 million

11.0% 900 • Upgrade/replacement of 10.5% networks in the Baltics during 600 10.0% 2012 - 2013 (SEK 72 million) 9.5% 300 • Russia SEK 57 million 9.0%

0 8.5% Q2'11 Q3'11 Q4'11 Q1'12 Q2'12 • Kazakhstan SEK 22 million Depreciation Depreciation of net sales (%)

35 Financial items

Financial items Q2 2012 Q2 2011 YTD 2012 YTD 2011 FY 2011

Interest income/costs -268 -87 -446 -128 -483

Exchange rate differences, external 6 -33 -7 -42 -24

Exchange rate differences, intragroup -11 -56 42 -39 13

Other financial items -48 -54 -88 -95 -180

Total -321 -230 -499 -304 -674

36 Taxes

Taxes in income statement Q2 2012 Q2 2011 YTD 2012 YTD 2011 FY 2011

Normal -257 -399 -593 -772 -1,580

One off - - - - 108

Total -257 -399 -593 -772 -1,472

Taxes in cash flow statement Q2 2012 Q2 2011 YTD 2012 YTD 2011 FY 2011

Normal -112 -325 -314 -550 -948

One off - - - - -

Total -112 -325 -314 -550 -948

• Deferred tax assets at year to date amounted to SEK 2.5 (Dec 2011: 3) billion • The 2012 tax payment will affect the cash flow with SEK 1,000 (earlier 1,200) million

37 Cash flow

SEK million Q2 2012 Q2 2011 YTD 2012 YTD 2011 FY 2011

OPERATING ACTIVITIES

Before paid tax 2,548 2,686 5,065 5,350 10,895

Paid taxes -112 -325 -314 -550 -948

Change in working capital -246 -7 -665 -264 -257

CF from operating activities 2,190 2,354 4,086 4,536 9,690

INVESTING ACTIVITIES

CAPEX -1,417 -1,661 -2,247 -2,677 -5,572

CF after CAPEX 773 693 1,839 1,859 4,118

Shares and other financial assets -5 -57 -203 -54 -1,563

CF after investing activities 768 636 1,636 1,805 2,555

38 Proforma financial debt profile

SOURCES OF FUNDING SEK Billion 20.0 16.9 17.5

15.0 12.8 12.1 12.5

10.0

7.5

5.0

2.5

0.0

-2.5 Q4 11 Q1 12 Q2 12 Revolving credit facility Russia bond Other financing Commercial paper Norwegian bond Swedish Bond Off BS items Cash Proforma net debt

39 Debt position and ratio

PROFORMA NET DEBT / EBITDA 12'M ROLLING SEK Billion / Ratio 20.0 2.00

17.5 1.75 Upper limit 2.9

2.9 15.0 1.50 2.9 2.9 12.5 1.25 Lower limit

16.9 10.0 1.00

12.8 12.1 7.5 0.75

5.0 0.50

2.5 0.25

0.0 0.0 0.0 0.00 Q4 11 Q1 12 Q2 12 Proforma Net Debt Ordinary dividend (paid May 2012)

Extraordinary dividend (paid May 2012) Leverage Net

40 Mobile Fixed broadband Fixed telephony Other Group financials

GROUP EBITDA and GROUP NET SALES GROUP EBITDA MARGIN Group EBITDA margin SEK Million SEK Million 4,000 30% 12,000

28% 3,000 9,000 26% 2,000 6,000 24% 1,000 3,000 22%

0 20% 0 Q2'11 Q3'11 Q4'11 Q1'12 Q2'12 Q2'11 Q3'11 Q4'11 Q1'12 Q2'12

GROUP CAPEX (BS) and CAPEX/SALES ROCE (NORMALISED)

SEK Million CAPEX/Sales Percent

2,000 30% 25% 19% 20% 21% 22% 1,500 23% 19% 16% 16% 15% 1,000 15% 10%

500 8% 5%

0 0% 0% Q2'11 Q3'11 Q4'11 Q1'12 Q2'12 Q1 Q2 Q3 Q4 Q1 Q2

41 Agenda

• About Q2 2012

• Financial review

• Concluding remarks

42 Concluding remarks

Manage the shift from voice to data • Package services to increase attractiveness of data • Exploit 4G services to make it a commercial success

Exploit new services and opportunities by offering our customers what they need for less • WyWallet • +46 app • Roaming buckets

Growth • Through emerging markets such as Russia and Kazakhstan • Through evolution of multiple devices

43 Q&A

44 45