1. Capital Markets Day 2011 The Best of Both Worlds Mats Granryd

2. Tele2’s Management Mats Granryd President & CEO MARKET AREAS Thomas Ekman MAD Nordic Dmitry Strashnov MAD Russia Niklas Sonkin MAD Central Europe/Eurasia Gunther Vogelpoel MAD Western Europe GROUP CENTRAL FUNCTIONS Lars Torstensson Communications Director Anders Olsson CCO Lars Nilsson CFO Cecilia Lundin Group HR Director Fredrik Linton Head of Strategy and M&A Joachim Horn CTIO

4. Tele2 has established itself as the operator providing the Best Deal

5. Our licenses cover more than 100 million people

8. 2G services will dominate for several years

10. 3G/4G a necessity

12. 2G services will dominate for several years to come

14. Data access will become our primary service

16. Quality

18. Smart investments

19. Always have the lowest costs

21. Straight and honest communication

22. Help out where needed – share your experience, ability and knowledge

24. Execute and react quickly

25. Fewer are quicker

26. Structure is good

27. Hate bureaucracy

29. Execute and stick to deadlines

31. Take initiative

33. Never give up – Winning attitude

34. Be proud – never satisfied

35. Challenge the impossible

37. Never compromise expected quality

38. Copy with pride

39. Simple is quality

40. Don’t change what’s working well