Tele2 (TEL2) Status update summary

Approved climate targets

• SBTi-approved targets: cut absolute Scope 1 and 2 GHG emissions 90% by 2025 and 100% by 2029, from a 2019 base year.

• Reduce Scope 3 GHG emissions 60% per subscription by 2029, from a 2019 base year; the intensity basis links value-chain reductions to subscription growth.

• Scope 1 and 2 goals align with a 1.5°C warming pathway; the Scope 3 goal meets SBTi criteria for ambitious value-chain targets.

• Long-term ambition is a fossil-free business with net-zero emissions across own operations and the value chain; own operations became climate neutral in 2020, first among telcos in the Nordics and Baltics.

Climate risk and sustainability

• Implementing TCFD recommendations to identify, assess and manage material climate-related risks and opportunities; analysis results were disclosed in a TCFD report.

• Sustainability strategy also focuses on advancing the circular economy and boosting innovation for sustainability.

• A sustainability video presentation featuring the President and CEO and Head of Sustainability was published ahead of Capital Market Day 2021.