Telia Lietuva

Investor Presentation • Jan 30, 2025

Interim results

12 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 12 months of 2024

#1 Service revenue went up by 4.6% mainly due continuous growth of revenue from billed mobile services	#2 Adjusted EBITDA increased by 5% and adjusted EBITDA margin stood at 36%	#3 Net profit for the year 2024 went up by 12.6%	#4 Free cash flow higher by 46.4%, while Capex increased by 3.7%
#5 Telia Company Group has implemented a change program to simplify Group's operations	#6 Over the year, Telia Lietuva reduced the number of job positions (incl. vacant ones) by almost 200	#7 Our Christmas campaign featured a young person with autism spectrum disorder was recognized as the most memorable season's advertising	#8 Telia ranks in the top 1% of 130,000 global companies assessed by EcoVadis, a provider of business sustainability ratings

Number of customers

Telecommunications market of Lithuania

Internet drives telco market growth (mEur)

Breakdown of the telecommunications market revenue by operators for Q3 2024 (%)

Telia Lietuva market shares in terms of revenue for Q3 2024 (%)

Market: growing usage of mobile data

+23.2% (y-o-y)

Growing usage of mobile data

(uploaded / downloaded 438,910 TB of data per quarter)

+0.8% (y-o-y)

Increased number of FTTH/B connections

(accounts for 80.6% of all fixed Internet connections)

-0.5% (y-o-y)

Increased number of IPTV users

(accounts for 60.1% of all pay-TV service users)

Source: Report of the Communications Regulatory Authority ¹⁵

Market penetration

Source: Report of the Communications Regulatory Authority ¹⁶

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 the 12 months of 2024 were comprised of one-off redundancy pay-outs of EUR 2.4 million (2023: EUR 1.1 million), non-recurring other expenses of EUR 1.7 million (EUR 2 million) and gain of EUR 881 thousand (2023: loss of EUR 188 thousand) from sale of property.

Confidential 21

Revenue breakdown (mEUR)

Confidential

Operating expenses (mEur)

excl. non-recurring expenses

NOTE. Non-recurring items for the 12 months of 2024 were comprised of one-off redundancy pay-outs of EUR 2.4 million (2023: EUR 1.1 million) and non-recurring other expenses of EUR 1.7 million (EUR 2 million)

non-recurring expenses

Number of employees

Cash flow & Net debt (mEur)

CAPEX & its breakdown for 12 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 31-12-2024

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-December 2024: 4.1 million of shares or EUR 6.6 million
• Share price on Nasdaq Vilnius:

01-01-2024	High	Low	31-12-2024
1.66 €	1.735 €	1.505 €	1.575€

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	1,463.42	+1.46
OMX Vilnius GI	946.76	1,011.04	+12.54
TEL1L – Telia Lietuva	1.67	1.59	-5.41

P/E ratio: 12.8 (15.3 a year ago)

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

Telia ranks among the TOP 1% most sustainable companies in the world, according to EcoVadis

Environment

Telia received "EcoVadis" Platinum award, which places Telia amongst the TOP 1% of the most sustainable companies in the world

Expansion of our electric vehicle fleet: 14 additional EVs were ordered

Telia's mobile (RAN) network in Lithuania is the most efficient, compared to other Telia markets, with the least energy required to transfer the same amounts of data (0.077 KwH/GB)

Collaborated with Lithuanian universities in the ECIU challenge – students presented Telia with 2 technological solutions which could potentially reduce our indirect greenhouse gas (GHG) emissions

National IT challenge – program course for 7- 9th grade students about the development of digital skills and inclusion – 12,678 children were reached in 2024

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 – 3,162 children engaged in this campaign in 2024

Digital inclusion Privacy & Security

Two presentations at major cybersecurity events in Lithuania, for the first time linking sustainability with cybersecurity

Expanded ISO 27001 certification scope – Telia Lietuva's Internet and data transmission services are now also included under this information security standard

Security Operations Centre (SOC) was launched in Lithuania

DEI (diversity, equity and inclusion) highlights

The amazing Telia Lithuania Christmas marketing campaign!

Telia Lietuva's headquarter in Vilnius was additionally upgraded to better suit people with disabilities

Experiential education workshop in Vilnius – "Silence, darkness & obstacles – experience the reality of people with disabilities"

The Company's employee from LGBTQI community for the first time used the benefit – day off for parents raising children under the age of 12

Thank you

Telia Lietuva, AB