TeliaSonera January-December 2003 - Pro Forma ¹)

TeliaSonera January-December 2003 - Pro Forma ¹) TeliaSonera posts record profit and cash flow ·Net sales increased 1 percent to SEK 81,772 million (80,979). ·Net income improved to SEK 7,671 million (-32,890) and earnings per share to SEK 1.64 (-7.03). ·Operating income climbed to SEK 13,140 million (-45,958). Excluding non- recurring items2), operating income improved to SEK 14,831 million (5,992). ·Free cash flow increased to SEK 17,499 million (9,534). ·EBITDA excluding non-recurring items increased to SEK 30,690 million (25,457), and the margin climbed to 38 percent (31). ·Strong growth in mobile and Internet. Negative fixed consumer trend in Sweden broken at year-end. ·Synergies realized faster than planned. Initiatives taken thus far are expected to yield annual cost savings of SEK 1,751 million and annual investment savings of SEK 374 million at the end of 2005. ·Proposed dividend increase to SEK 1.00 per share, consisting of an ordinary dividend of SEK 0.80 (0.40) and an extra dividend of SEK 0.20, reflecting the exceptionally strong cash flow. Key Figures In millions, except Oct-Dec Oct-Dec Jan-Dec Jan-Dec Jan-Dec percentages and per share 2003 2002 2003 2003 2002 data SEK SEK SEK EUR 3) SEK Net sales 21,054 20,945 81,772 9,010 80,979 EBITDA excl. non-recurring 7,143 6,355 30,690 3,382 25,457 items Margin (%) 33.9 30.3 37.5 37.5 31.4 Income from associated 499 368 382 42 -33,039 companies Operating income 3,382 46 13,140 1,448 -45,958 Operating income excl. non- 3,330 2,150 14,831 1,634 5,992 recurring items Income after financial 3,100 -80 12,346 1,360 -46,791 items Net income 2,696 3,008 7,671 845 -32,890 Earnings/loss per share 0.58 0.64 1.64 0.18 -7.03 CAPEX 3,336 3,360 8,960 987 11,710 Free cash flow 3,309 3,672 17,499 1,928 9,534 Legal 4) Net sales 21,054 16,756 82,425 9,082 59,483 Net income 2,696 1,894 9,080 1,000 -8,067 Earnings/loss per share 0.58 0.54 1.95 0.21 -2.58 1) Pro forma presentation as if the merger of Telia and Sonera had taken place on January 1, 2002 and excluding Telia's Finnish mobile operations and Swedish cable TV operations. 2) Non-recurring items, see table on page 38. 3) Convenience translation only, conversion rate SEK 1 = EUR 0.110183. 4) Including Sonera operations and the new Baltic subsidiaries since December 3, 2002 and Telia's Finnish mobile operations and Swedish cable TV operations through May 31, 2003. Stockholm, February 11, 2004 Anders Igel President and CEO This report has not been reviewed by TeliaSonera's auditors. Financial Information Annual Report 2003 Early April, 2004*) Interim Report January-March 2004 April 28, 2004 Annual General Meeting April 28, 2004 Interim Report January-June 2004 July 28, 2004 Interim Report January-September 2004 October 27, 2004 *) The Annual Report will be published at www.teliasonera.com/ir and will be available at TeliaSonera's Corporate Headquarters, Sturegatan 1, Stockholm, Sweden. It will also be sent by mail to shareholders who have requested printed reports. Questions regarding content: TeliaSonera AB Investor Relations SE-106 63 Stockholm, Sweden Tel. +46 8 504 550 00 Fax +46 8 611 46 42 www.teliasonera.com/ir Ordering of individual printed reports: Shareholders with questions Tel. +46 372 851 42 regarding the distribution of Fax +46 372 843 56 financial reports or for change www.teliasonera.com/ir of address: Tel. +46 8 449 88 16 Fax +46 8 449 88 10 E-mail: teliasonera@strd.se ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/02/11/20040211BIT00020/wkr0001.doc The full report http://www.waymaker.net/bitonline/2004/02/11/20040211BIT00020/wkr0002.pdf The full report

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We’re Telia Company, the New Generation Telco. Our approximately 20,000 talented colleagues serve millions of customers every day in one of the world’s most connected regions. With a strong connectivity base, we’re the hub in the digital ecosystem, empowering people, companies and societies to stay in touch with everything that matters 24/7/365 - on their terms. Headquartered in Stockholm, the heart of innovation and technology, we’re set to change the industry and bring the world even closer for our customers. Read more at www.teliacompany.com

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