Tele2 announces completion of Joint Venture in Kazakhstan

Stockholm – Tele2 AB, (Tele2), (NASDAQ OMX Stockholm: TEL2 A and TEL2 B) today
announces it has completed the Joint Venture between Tele2’s and Kazakhtelecom’s
mobile businesses in Kazakhstan, pursuant to the terms of the previously
announced agreement in November 2015.
The Joint Venture will strengthen the position of both companies in the
Kazakhstan market by combining Tele2’s existing operations in Kazakhstan with
Kazakhtelecom’s mobile business, Altel. The new business will have more than 6
million subscribers and a market share of around 23 percent.

Allison Kirkby, President and CEO, Tele2 AB, comments: “I am delighted to
announce the completion of our Joint Venture with Kazakhtelecom which will
create a more sustainable and significant player in the market. The process of
integrating the businesses is well underway and the expected synergies will be
beneficial for both our customers and shareholders.”

All relevant regulatory approvals to complete the transaction have been
received.

For more information, please contact:
Viktor Wallström, Director of Communications, Tele2 AB, Phone: +46 703 63 53 27
Louise Tjeder, Head of Investor Relations, Tele2 AB, Phone: +46 704 26 46 52

TELE2 IS ONE OF EUROPE'S FASTEST GROWING TELECOM OPERATORS, ALWAYS PROVIDING
CUSTOMERS WITH WHAT THEY NEED FOR LESS. We have 14 million customers in 9
countries. Tele2 offers mobile services, fixed broadband and telephony, data
network services, content services and global M2M/IoT solutions. Ever since Jan
Stenbeck founded the company in 1993, it has been a tough challenger to the
former government monopolies and other established providers. Tele2 has been
listed on the NASDAQ OMX Stockholm since 1996. In 2015, we had net sales of SEK
27 billion and reported an operating profit (EBITDA) of SEK 5.8 billion.