Tele2 AB : Interim report January - September 2012

Stockholm - Tele2 AB, (Tele2), (NASDAQ OMX Stockholm: TEL2 A and TEL2 B) today
announced its consolidated results for the third quarter 2012.

CEO comment:

"Tele2 has continued to show robust performance in Q3 2012 in customer intake,
revenue and EBITDA. Mobile now accounts for almost 80 percent of total revenue;
all indicators demonstrate that by choosing to focus on mobile services we have
moved in the right strategic direction. Indeed, we can see even more pronounced
shifts from voice to data demand, as well as "acceleration of everything":
Mobile data volumes, for example, is growing 3 times faster than fixed broadband
data.

Growth assets and positive underlying mobile trends underpin our potential for
sustainable earnings growth in the longer term. Increased scale and cost
efficiency remain key to our profitability and owning the customer relationship
is central to securing our position in the value chain."

Financial highlights

Net sales amounted to SEK 10,906 (10,429) million corresponding to a growth
excluding exchange rate difference of 9 percent in the quarter. EBITDA in Q3
2012 amounted to SEK 3,002 (2,986) million, equivalent to an EBITDA margin of
28 (29) percent.

Strong customer intake in market area Russia

In Q3 2012, Tele2 Russia added 710,000 (681,000) customers, resulting in a total
customer base of 22.3 (20.4) million. EBITDA amounted to SEK 1,239 (1,214)
million, equivalent to an EBITDA margin of 38 (40) percent.

Sustained mobile revenue growth in market area Nordic

Mobile revenue in Sweden grew by 4 percent, as customer demand for smartphones
and data services increased further during the quarter. The mobile EBITDA
contribution in the quarter reached a record high of SEK 828 (799) million due
to increased usage and improved cost efficiency. Tele2 Norway performed well
during the quarter, as its network capabilities improved, leading to robust
EBITDA margin development despite lowered interconnect rate from the 1(st) of
July.

Significant operational progress in market area Central Europe & Eurasia

During the quarter, Tele2 Kazakhstan continued to expand its market share and
added 589,000 (459,000) new customers in the quarter. The total customer base
amounted to 3.1 (1.1) million. The Baltic countries drove further cost cutting
in the quarter, to maintain a firm EBITDA margin development despite tough
competitive pressure.

Robust margin development in market area Western Europe

Tele2 Netherlands maintained stable EBITDA margin compared to same period last
year, in spite of a strong marketing push within the mobile segment. Both Tele2
Austria and Tele2 Germany continued their steady operational development thanks
to a combination of innovative product offers and tight cost control.

The Interim report is available on reports.tele2.com/2012/Q3

Telephone conference

Tele2 will host a conference call, with an interactive presentation, for the
global financial community at 10.00 am CET (09.00 am UK time/04.00 am NY time)
on Thursday, October 18, 2012. The conference call will be held in English and
also made available as an audiocast on Tele2's dedicated Q3 2012 website,
reports.tele2.com/2012/Q3.

Dial-in information:

To ensure that you are connected to the conference call, please dial in a few
minutes before the start of the conference call to register your attendance.

Dial-in numbers:

Sweden: +46 8 505 598 53

UK: +44 203 043 24 36

US: +1 866 458 40 87

Contacts

Mats Granryd

President & CEO

Telephone: + 46 (0)8 5620 0060



Lars Nilsson

CFO

Telephone: +46 (0)8 5620 0060



Lars Torstensson

Director, Group Corporate Communication

Telephone: + 46 (0)8 5620 0042



Tele2 is one of Europe 's leading telecom OPERATORS, always providing the best
deal. We have 38 million customers in 11 countries. Tele2 offers mobile
services, fixed broadband and telephony, data network services, cable TV and
content services. 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 2011, we had net sales of SEK 41 billion and reported an operating
profit (EBITDA) of SEK 11.2 billion.


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