Tele2 — M&A Activity 2020

Mar 3, 2020

Tele2 AB Skeppsbron 18 P.O Box 2094 SE-103 13 Stockholm, Sweden Telephone +46 8 5620 0060 Fax: +46 8 5620 0040 www.tele2.com

2020-03-03

PRESS RELEASE

Tele2 closes the sale in Croatia

Stockholm – Today Tele2 AB ("Tele2") (Nasdaq Stockholm: TEL2 A and TEL2 B) completed the sale of Tele2 Croatia to United Group.

As communicated on 3 February 2020, Tele2's Board of Directors intends to distribute the proceeds from the sale of Tele2 Croatia, along with additional cash available after re-levering growth in underlying EBITDAaL, through an extraordinary dividend of SEK 3.50 per share which will be proposed to Tele2's Annual General Meeting on 11 May 2020.

For more information, please contact:

Joel Ibson, Head of Corporate Communications, Phone: +46 766 26 44 00 Marcus Lindberg, Head of Investor Relations, Phone: +46 73 439 25 40

Tele2's vision is to be the smartest telco in the world, creating a society of unlimited possibilities. Ever since Tele2 was founded in 1993, we have continued to challenge prevailing norms and dusty monopolies. Today, our award winning networks enable mobile and fixed connectivity, telephony, data network services, TV, streaming and global IoT solutions for millions of customers. We drive growth through customer satisfaction and smart combined offerings. Tele2 has been listed on Nasdaq Stockholm since 1996. In 2018, Tele2 generated revenue of SEK 30 billion and reported an underlying EBITDA of SEK 9 billion. For latest news and definitions of measures, please see our homepage www.tele2.com.