1. Capital Markets Day
Niklas Sonkin, Market Area Director Central Europe and
Eurasia
December 12, 2012

2. Net sales EBITDA CapEx
Kazakhstan 2% -4% 13%
• Continued rapid market share growth
91 Tele2 Capital Markets Day 2012 * Figures represent contribution to group; YTD Q3 2012

3. Highlights since last Capital Markets Day
More than 3 mln subscribers New agreement on MTR Strong customer intake
Customers ’000 reductions leading to doubling of
3,500 MTR development customer market share YoY
3,000
Customer market share
2,500
Q3 2012
2,000
1,500 Q3 2011
1,000
500
0
92 Tele2 Capital Markets Day 2012

4. Kazakhstan macro overview
GDP development Population (’000)
10% 17,000
8% 16,500
6% 16,000
4% 15,500
2% 15,000
0% 14,500
Inflation Unemployment rate
20% 8%
15% 6%
10% 4%
5% 2%
0% 0%
93 Tele2 Capital Markets Day 2012 Source: International Monetary Fund

5. Competitive environment
Customer market share Share of net subscriber additions
1.8% 3.5% 5.5% 6.4% 7.7% 10.5% 12.1% -3% 23% 34% 21% 54% 56% 35%*
100% 100%
80% 80%
60%
60%
40% Tele2
40% Kcell/Activ
20%
Beeline
20%
0% Dalacom/Pathword
0% -20%
* Q3 ’12 including customer base adjustment
94 Tele2 Capital Markets Day 2012

6. Revenue growth
Customer Revenue market
market share share
15% 45%
10% 40%
5% 35%
0% 30%
60% 5%
55%
4%
50%
45% 3%
95 Tele2 Capital Markets Day 2012

7. Customer base, MOU and ARPU
Number of customers (’000) Customer MOU and ARPU (KZT)
3,500 1,200 90
3,000 80
1,000
70
2,500
800 60
2,000 50
600
1,500 40 ARPU
400 30 MOU
1,000
20
500 200
10
0 0 0
96 Tele2 Capital Markets Day 2012

8. Market has seen sharp fall in average price per
minute
Average price per minute (USD cents)
0.09
0.08
0.07
Kazakhstan telecom market
0.06
0.05
pricing development since
0.04
Tele2’s market entry
0.03
0.02
0.01
0
Note: Average price per minute calculated by using officially reported MOU, ARPU and customer
97 Tele2 Capital Markets Day 2012 market share (including data, handset and interconnect revenue)

9. On target for EBITDA break-even
Tele2 expects to reach EBITDA break-even by 2H 2013
GM1 and EBITDA margin development
40%
20%
• GM1 margin at all-
time high
0%
• Positive EBITDA
-20% GM1% margin development
-40% EBITDA%
-60%
-80%
-100%
98 Tele2 Capital Markets Day 2012

10. Distribution strategy
32 monobrand stores
678 dealers
5,999 points of sale
Online store
99 Tele2 Capital Markets Day 2012

11. Highly satisfied customers
Customer satisfaction
98%
96% Phone Customer satisfaction
Shops
94% second only to Russia in
Target
92% the Tele2 Group
90%
88%
Q1 2012 Q2 2012 Q3 2012
Customer service KPIs (seconds) Further improvements
140
120
through introduction of
Target
100 Average handling social media monitoring,
80 time new staff learning
60 Average speed of
40
Target answer concepts and feedback
20 pages
0
Q1 2012 Q2 2012 Q3 2012
100 Tele2 Capital Markets Day 2012

12. Strong presence in largest regions
Almaty
Customer market share per region
25% Astana, Kokshetau and Akmolinsk region
Pavlodar
Almaty Taraz, Zhambyl
20% Strong price and
Petropavlovsk and North Kazakhstan
quality perception
Aktau and Mangistau Region
15%
Oskemen, Semipallatinsk and East
Kazakhstan
Kostanay
10% Aktobe
Shymkent and South Kazakhstan
5% Uralsk and Western Kazakhstan
20.2%
15.8%
8.9%
4.4%
6.3%
3.4%
3.3%
8.3%
5.2%
4.7%
3.7%
4.3%
8.1%
3.3%
Kyzylorda
0% Karaganda
Six regions equal
Regional population as
47% of total population proportion of country total
101 Tele2 Capital Markets Day 2012

13. Further differentiation in price and packaging
Pricing
On-net offerings, friends package,
volume-based data pricing
Different offers for different
target groups
102 Tele2 Capital Markets Day 2012

14. Mobile internet growth
Data revenue development (USD ’000)
2,000 Volume-based pricing
1,600
Profiting from rapid increase in
1,200
800
data traffic and high margins
400
0
Data revenue as % of
Total revenue: 12.2%
Service revenue: 18.4%
”Best value for
money”
Profit.kz, May 2012
103 Tele2 Capital Markets Day 2012

15. Licenses – spectrum comparison
11 MHz 6 MHz 7 MHz
900 MHz
GSM/UMTS GSM GSM
5 MHz 10 MHz 5 MHz
1800 MHz
GSM GSM GSM
20 MHz 20 MHz 20 MHz
2100 MHz
UMTS UMTS UMTS
20 MHz
LTE
in 1800 MHz
CDMA 10 MHz
104 Tele2 Capital Markets Day 2012

16. Rapid network rollout
Number of activated base stations
3,000
2,517 base stations
80% population coverage
2,500 Target 92% in 2015
2,000
1,500
1,000
Petropavl
500 Pavlodar
Kostanay
Kokshetau
Astana
Oral
0 Semey
Aktobe Karagandy Oskemen
Atyrau
Kyzyl-Orda
Almaty
Aktau Taraz Taldykorgan
Shymkent
105 Tele2 Capital Markets Day 2012

17. Regulatory environment
MTR development (KZT)
25.0
20.0
New MTR agreement signed
20.0
16.5
15.0 15.3
13.0
MTRs will continue to go down
11.1
10.0
9.4
according to new agreement for
5.0
2012 to 2015
0.0
Incoming vs. outgoing traffic
52%
50%
50.8%
48%
46%
44%
106 Tele2 Capital Markets Day 2012

18. Engaged employees
617 employees Best-in-class employee
17 regional offices engagement
Yearly survey ”MyVoice” shows
Employee engagement index record high engagement levels
60% and employee satisfaction
50%
40%
30%
20% Tele2 KZ
10% Global Benchmark
0%
107 Tele2 Capital Markets Day 2012

19. Solid governance structure
Tele2 Kazakhstan Local partner
Tele2 Asianet Holding
51% 49% Supervisory Board
Advisory Board
Tele2 Group best practices
108 Tele2 Capital Markets Day 2012

20. Summary
• Tele2 has made an impact on the
market
• On path towards profitability
• Improving customer and revenue
market share
109 Tele2 Capital Markets Day 2012