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Press release

Tele2 AB announces tender offer regarding outstanding EUR notes

Tele2

Stockholm - Tele2 AB ("Tele2") (Nasdaq Stockholm: TEL2 A and TEL2 B) has today announced an invitation to holders of the EUR 500,000,000 1.125 percent. Fixed Rate Notes due 2024 (ISIN: XS1907150350) (the "Notes") to tender their Notes for purchase by Tele2 for cash (the "Tender Offer").

The Notes will be repurchased subject to the satisfaction or waiver of the New Financing Condition (as defined in the Tender Offer Memorandum) and the other terms and conditions described in the Tender Offer Memorandum dated 9 May 2023 (the "Tender Offer Memorandum").

Tele2 also announced today its intention to issue new euro-denominated fixed rate notes (the "New Notes") guaranteed by Tele2 Sverige AB, under the €5,000,000,000 Euro Medium Term Note Programme (the "Programme"), subject to market conditions.

The Tender Offer expires at 17:00 CEST on 16 May 2023 and settlement is expected to occuron22 May 2023. Further details of the Tender Offer, the pricing and the timeline is available in the launch announcement via Luxembourg Stock Exchange and the Tender Offer Memorandum is available via the tender agent (https://deals.is.kroll.com/Tele2).

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

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