Tele2 AB: Tele2 interim report first quarter 2023

Highlights

• End-user service revenue of SEK 5.1 billion increased by 4% organically compared to Q1 2022 due to strong performance in the Baltics and Sweden B2B. Total revenue of SEK 7.0 billion increased by 3% organically compared to Q1 2022.
• Underlying EBITDAaL of SEK 2.5 billion remained unchanged organically compared to Q1 2022 as end-user service revenue growth and cost savings related to the Business Transformation Program were offset by inflation pressures.
• Profit after financial items (EBT) of SEK 1.1 (2.7) billion in Q1 2023. The decline is mainly related to the capital gain of SEK 1.6 billion from the T-Mobile Netherlands divestment in Q1 2022.
• Net profit from total operations of SEK 0.8 (2.5) billion and earnings per share of SEK 1.23 (3.59).
• Equity free cash flow of SEK 1.1 (0.9) billion. Over the last twelve months, SEK 3.7 billion was generated, equivalent to approximately SEK 5.30 per share.
• Full-year 2023 and mid-term financial guidance is reiterated.

Comment from Kjell Johnsen, President and Group CEO of Tele2

"This year is an important one for Tele2. We aim to build Sweden's best 5G network, while also executing on an IT transformation that will improve every step of the digital customer journey and experience.

While building for the future, it is of essence to keep our growth momentum here and now. Hence, I'm pleased to see Tele2's overall growth in Q1, mainly driven by Sweden B2B and the Baltics. On the consumer side we have taken actions in Q1 to address the inflationary pressure and consequences of higher interest rates, and it will contribute to the revenues as the year progresses."

Teleconference and webcast
Tele2 will host a teleconference and webcast with presentation at 10:00 CEST (09:00 BST, 04:00 EDT) on Friday 21 April 2023. The presentation will be held in English.

Registration for the webcast and a separate registration for the teleconference is available at www.tele2.com.

For the teleconference, please note that dial-in numbers and unique PIN code (or a `call-me' facility) will be provided when you register at www.tele2.com (https://eur01.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.tele2.com%2F&data=05%7C01%7Csamuel.maher%40tele2.com%7C7b558cfd53fc4cc3dc0b08daa6c5d9f2%7C76431109ff8942c28781a07ca07a2d57%7C0%7C0%7C638005666436327327%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=YsGWpT5dW9FG5%2BlfK1mZZhm1iqcX9Roa5ZlzjVBo9PQ%3D&reserved=0). To make sure you are connected in time for the teleconference, please register at least a few minutes in advance.

For more information, please contact:

Fredrik Hallstan, Head of External Communications Phone: +46761 15 38 30

Stefan Billing, Head of Investor Relations, Phone: +46701 66 33 10

This information is information that Tele2 AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 07:00 CET on April 21, 2023.