Telia Company Year-end Report January–December 2018

Delivering on our ambitionsFourth quarter summary · Net sales in local currencies, excluding acquisitions and disposals declined 2.9 percent. In reported currency, net sales rose 4.9 percent to SEK 22,209 million (21,164). Service revenues in local currencies, excluding acquisitions and disposals, declined 2.5 percent. · Adjusted EBITDA declined 5.5 percent in local currencies, excluding acquisitions and disposals. In reported currency, adjusted EBITDA rose 3.3 percent to SEK 6,735 million (6,520). The adjusted EBITDA margin fell to 30.3 percent (30.8). · Adjusted operating