Telia Lietuva

Investor Presentation • Oct 24, 2024

Interim results

9 months of 2024

Telia Lietuva, AB

Telia Lietuva provides telecommunication, IT & TV services in Lithuania from a single point

Telia Lietuva means

Wide range of services

The most developed networks

Modern data centres

Everything from a single point

Telia Lietuva means

Customer care 24/7/365

Quality of operations' management confirmed by ISO certificates

Team of 2,000 professionals

Sustainable and responsible business

We are part of international group

Our purpose

We reinvent better connected living

Our values

We Dare

Speed up Make the right decisions fast

Make it happen Enable everyone to make better happen

Radical honesty Call things out even when it´s difficult Look out for each other Treat everyone with respect

Walk in our customers' shoes Make customer experience your obsession

7

Celebrate the good stuff Be generous with your praise Less is more Do what matters most

One team Align goals and prioritize

1% a day Make small improvements every day

Telia Lietuva has an associate

50% VšĮ Numerio Perkėlimas

— Telia Lietuva provides integrated mobile and fixed communication and IT services

— Numerio Perkėlimas administers the central database to ensure telephone number portability in Lithuania (Tele2 and Bitė Lietuva owns 25% each)

Highlights of 9 months of 2024

#1 Service revenue increased by 4.2% boosted by double-digit growth from billed mobile services	#2 Adjusted EBITDA margin increase by 1 p.p. to 37.6%	#3 Net profit for the period was up by 7.2%	#4 Free cash flow higher by 42.4%, while Capex down by 1.9%
#5 Telia Company update its strategy with clear set of priorities, namely, to Simplify, Innovate and Grow	#6 Change program of Telia Company implies decentralization and streamlining of Group's business model	#7 By the end of 2024 Telia Lietuva will reduce its number of personnel by 200	#8 Telia Lietuva earned 9.7 points out of a possible 10 in the sustainability index created by Verslo Žinios and Swedbank

Number of customers

Telecommunications market of Lithuania

Internet drives telco market growth (mEur)

Breakdown of the telecommunications market revenue by operators for Q2 2024 (%)

Telia Lietuva market shares in terms of revenue for Q2 2024 (%)

Market: growing usage of mobile data

+24.4% (y-o-y)

Growing usage of mobile data

(uploaded / downloaded 405,955 TB of data per quarter)

+0.8% (y-o-y)

Increased number of FTTH/B connections

(accounts for 80.5% of all fixed Internet connections)

+1.9% (y-o-y)

Increased number of IPTV users

(accounts for 55.4% of all pay-TV service users)

Source: Report of the Communications Regulatory Authority ¹⁵

Market penetration

Operating and financial results

Number of mobile and broadband service users

Mobile communication users (thousands)

Broadband Internet connections (thousands)

Number of TV and fixed voice service users

TV service users (thousands)

Fixed telephone lines (thousands)

Revenue & Earnings (mEUR)

Dynamics of main financial indicators (mEur)

NOTE. Non-recurring items for 9 months of 2024 were comprised of one-off redundancy pay-outs of EUR 1.1 million (2023: EUR 0.9 million), other nonrecurring expenses EUR 1.3 million (2023: EUR 1.5 million) and gain of EUR 222 thousand (2023: EUR 123 thousand) from sale of property.

Confidential

21

Revenue breakdown (mEUR)

Confidential

Operating expenses (mEur)

excl. non-recurring expenses

NOTE. Non-recurring items for 9 months of 2024 were comprised of one-off redundancy pay-outs of EUR 1.1 million (2023: EUR 0.9 million) and other nonrecurring expenses EUR 1.3 million (2023: EUR 1.5 million)

non-recurring expenses

Number of employees

Cash flow & Net debt (mEur)

CAPEX & its breakdown for 9 months of 2024 (mEur)

Dividends

• The revised Company's dividend policy provides that the Company must maintain the net debt to EBITDA ratio not higher than 1.5 and to pay out not more than 80% of free cash flow and not more than 100% of net profit as dividend
• Earnings and dividends are allocated to 582,613,138 shares
• On 26 April 2024, the Annual General Meeting of shareholders approved pay-out of EUR 52.4 million (EUR 0.09 per share) of dividends for the year 2023
• Dividends were paid on 23 May 2024

NOTE. Financial data for the years 2019-2020 is consolidated, for the year 2021-2023 – standalone

Shares and shareholders

Shareholders

• Telia Company AB (Sweden) is the largest shareholder of Telia Lietuva, AB
• The Company's share capital consist of 582,613,138 ordinary registered shares of EUR 0.29 nominal value each
• The total number of Telia Lietuva shareholders is 15.5 thousand

Shareholders

as of 30-09-2024

Telia Company AB Other

88.15% 11.85%

Part of shares and votes

Shares

• Since June 2000, the Company's shares are listed on Nasdaq Vilnius stock exchange (ticker: TEL1L)
• Since January 2011, the Company's shares were included into the trading lists of a few German stock exchanges (ticker: ZWS)
• Turnover on Nasdaq Vilnius stock exchange during January-September 2024: 2.9 million of shares or EUR 4.7 million
• Share price on Nasdaq Vilnius:

01-01-2024	High	Low	30-09-2024
1.66 €	1.735 €	1.505 €	1.595€

Market capitalization (mEur)

Trading in the Company's shares on Nasdaq Vilnius stock exchange in 2024

The company's share price and Nasdaq Vilnius indexes comparison

	Opening value	Closing value	Change %
OMX Baltic Benchmark GI	1,442.41	1,417.91	-1.7
OMX Vilnius GI	946.76	1,011.04	+6.79
TEL1L – Telia Lietuva	1.67	1.59	-4.2

P/E ratio: 13.8 (14.4 a year ago)

Source: Nasdaq Vilnius

Corporate governance

Governing bodies

• The Annual General Meeting of Shareholders was held on 26 April 2024
• The Company's Board consist of 6 members: 4 representing Telia Company and 2 are independent
• 3 members of the Board comprise Audit and Remuneration Committees
• Dan Strömberg resigned from the Board as of 25 April 2024 and shareholders elected Stefan Backman, Group General Counsel at Telia Company, to the Board
• On 25 June 2024, Stefan Backman was elected as Chair of the Board
• Agneta Wallmark resigned from the Board as of 20 September 2024
• The current term of the Board ends on 27 April 2025
• Shareholders elected KPMG Baltics, UAB as the Company's audit enterprise for 2024 and 2025
• The Board elects and recalls CEO

Board

Chair of the Board, represents Telia Company AB

Stefan

Claes Nycander

Member of the Board, Chair of the Remuneration committee, represents Telia Company AB

Hannu-Matti

Mäkinen

Member of the Board, Chair of the Audit Committee, member of the Remuneration Committee, represents Telia Company AB

Leda Iržikevičienė

Independent member of the Board, member of the Audit Committee

Mindaugas Glodas

Independent member of the Board, member of the Audit and Remuneration Committees

Members of the Board do not own direct shares of Telia Lietuva

Governing structure of Telia Lietuva valid from 1 July 2024

Management team

Giedrė Kaminskaitė-Salters, CEO

Elina Dapkevičienė, Head of Consumer

Aurimas Žlibinas, Head of Enterprise

Lina Bandzinė, Head of Sales & Customer Care

Andrius Šemeškevičius, Head of Technology

Vygintas Domarkas, Head of Digital Transformation

Daina Večkytė, Head of Finance

Ramūnas Bagdonas, Head of People & Engagement

Daiva Kasperavičienė, Head of Legal & Corporate Affairs

Vaida Jurkonienė, Head of Marketing & Communication

Vytautas Bučinskas, Head of Business Assurance & Transformation

Business sustainability

Sustainability focus areas

Other material impact areas:

• Human rights
• Children's rights
• Freedom of expression and government surveillance
• Well-being
• Responsible sourcing
• Anti-bribery and corruption

Sustainability overview: 9 months of 2024

Telia Lietuva ranks among the top 5 most sustainable companies in Lithuania

Environment

Telia Lietuva ranks among the top 5 most sustainable companies in Lithuania

57% of our vehicle fleet is fully electric

The 1st part of the full buy back service came to life

Launched new refurb category – laptops

National IT Challenge – program course for 7-9 grades and teachers. 12,678 people reached

Safer Internet digital campaign brought a lot of traffic to our web page where we share relevant information and tips for parents and guardians. Also, in the beginning of the year we noticed an increased interest from schools to have live lectures about safety online which resulted in record high number of live contacts with school children – more than 1,300

Digital inclusion Privacy & Security

Enhanced information security management through re-certification of data centres, cloud, IT management, unified communications and networks security services by the international security standard, ISO/IEC 27001:2022

Business continuity planning and resilience

strategies have been updated to ensure uninterrupted operations even during major cyber incidents or technical failures

DEI (diversity, equity and inclusion) highlights

For the first time in Lithuania, easy-to-read news released (sponsored by Telia Lietuva)

Telia Lietuva sponsored the biggest dyslexia awareness event in Lithuania, which was held to increase the awareness about other ways of creating and reading stories than the traditional ones. The event reached around 18,000 people

We added a full neurodiversity and disability (both visible and invisible) courses to Telia Play's children corner, featuring 14 stories

More than 80 managers trained in live training sessions about inclusive journey for employee with disability in Telia

Pride month: 4 internal activities, mini campaign in social media

LGBTQ awareness training - over 100 employees completed the course

Thank you

Telia Lietuva, AB