Tele2 — Capital/Financing Update 2012

Jan 24, 2012

Press release 2012-01-24

Tele2 AB issue commercial papers

Stockholm - Tele2 AB (Tele2), (NASDAQ OMX Stockholm Exchange: TEL2 A and TEL2 B) announced today that it has completed a first issue under a Swedish Commercial Paper Program.

Tele2 AB has carried out a first issue under a recently established Swedish commercial paper program. The program enables Tele2 to issue commercial papers up to a total amount of SEK 1.5 billion. Commercial papers can be issued up to 12 months under the program. The commercial paper program is a complement to Tele2's core funding.

Arranger of the program is SEB and dealers are Handelsbanken, Nordea, SEB and Swedbank.

For further information, contact:

Lars Torstensson, Investor Inquiries, Telephone: +46 702 73 48 79 Pernilla Oldmark, Press Inquiries, Telephone: +46 704 26 45 45

TELE2 IS ONE OF EUROPE'S LEADING TELECOM OPERATORS, ALWAYS PROVIDING THE

BEST DEAL. We have 34 million customers in 11 countries. Tele2 offers mobile services, fixed broadband and telephony, data network services, cable TV and content services. Ever since Jan Stenbeck founded the company in 1993, it has been a tough challenger to the former government monopolies and other established providers. Tele2 has been listed on the NASDAQ OMX Stockholm since 1996. In 2010, we had net sales of SEK 40.2 billion and reported an operating profit (EBITDA) of SEK 10.3 billion.