Eltel

Declaration of Voting Results & Voting Rights Announcements • Jan 31, 2019

Press release 31 January 2019 at 15:30 CET

Number of shares and votes in Eltel AB

Today, on 31 January 2019, the total number of shares in Eltel amounts to 157,499,081 and the total number of votes amounts to 156,734,081.

The increase is due to the Board's resolution, based on the authorisation given to the Board by the Extraordinary General Meeting held in the Company on 17 September 2018, to issue a total of 850,000 redeemable and convertible class C shares, which was registered by the Swedish Companies Registration Office during January 2019. The purpose of the issue of class C shares is to use the shares in Eltel's longterm incentive program LTIP 2018. In connection with the issue, the shares have been repurchased by Eltel which will hold the shares until it is time to deliver shares to the participants of LTIP 2018. Prior to delivery of the shares to participants, the class C shares will be converted to ordinary shares.

As of 31 January 2019, the total number of shares in Eltel are divided into two classes of shares, in accordance with the following:

• 156,649,081 ordinary shares with 1 vote per share; and
• 850,000 class C shares with 1/10 vote per share.

For further information:

Elin Otter, Head of Communications and Investor Relations Tel: +46 72 595 4692, elin.otter@eltelnetworks.se

This information is information that Eltel AB is obliged to make public pursuant to the Swedish Financial Instruments Trading Act. The information was submitted for publication, through the agency of the contact person set out above, at 15:30 CET on 31 January 2019.

About Eltel

Eltel is a leading Northern European provider of technical services for critical infrastructure networks – Infranets – in the segments of Power, Communication and Other, with operations throughout the Nordics, Poland and Germany. Eltel provides a broad, integrated range of services from maintenance and upgrade services to project deliveries. Eltel has a diverse contract portfolio and a growing customer base of large network owners. In 2017, Eltel had annual sales of EUR 1.3 billion. The total number of employees currently stands at around 7,500. Eltel AB has been listed on Nasdaq Stockholm since 2015.