Tele2 publishes prospectus relating to the rights issue

Stockholm - Tele2 AB (publ), (“Tele2” or the “Company”), (NASDAQ OMX Stockholm:
TEL2 A and TEL2 B), announces that the prospectus relating to Tele2’s rights
issue (the “Rights Issue”) has been approved and registered by the Swedish
Financial Supervisory Authority and is available on the company’s website
www.tele2.com/investors as well as on Nordea’s website
www.nordea.se/handlaplacera.
NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED
STATES, AUSTRALIA, HONG KONG, JAPAN, CANADA OR SOUTH AFRICA OR ANY OTHER
JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. OTHER
RESTRICTIONS ARE APPLICABLE. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THE
PRESS RELEASE.

The prospectus will be distributed by mail to Tele2’s directly registered
shareholders and the prospectus can also be ordered from Tele2 by e-mail cc
-office@tele2.com or by telephone + 46 8 21 07 40, in both cases subject to
certain legal restrictions. The prospectus and all other information related to
the Rights Issue will also be available on the Company’s website
www.tele2.com/investors.

Financial and legal advisors
Nordea Bank AB (publ) is acting as financial advisor and Advokatfirman Vinge KB
is acting as legal advisor in connection with the Rights Issue.

The information was distributed for disclosure at 11:00am CET on October 28,
2016.

For more information, please contact:
Angelica Gustafsson, Press Inquiries, Tele2 AB, Phone: +46 704 26 41 42
Mattias Schriwer, Head of Group Treasury, Tele2 AB, Phone: +46 73 707 5809
Important information
This announcement does not constitute or form part of an offer for sale or
solicitation of an offer to purchase or subscribe for securities in the United
States, any Member State of the European Economic Area (“EEA”) or any other
jurisdiction. The securities referred to herein have not been and will not be
registered under the U.S. Securities Act of 1933, as amended (the “Securities
Act”), and may not be offered or sold, directly or indirectly, in the United
States absent registration under or an exemption from, or in a transaction not
subject to, the registration requirements of the Securities Act. The Company
does not intend to register any portion of this offering in the United States or
to conduct a public offering in the United States. Any public offering of
securities to be made in the United States will be made by means of a prospectus
that will contain detailed information about the Company and its management, as
well as financial statements. Copies of this announcement are not being, and
should not be, distributed in or sent into the United States.

This announcement is an advertisement and not a prospectus for the purposes of
the Prospectus Directive. Any purchase of securities of Tele2 pursuant to the
Rights Issue should only be made on the basis of the information contained in
the formal prospectus issued in connection with the Rights Issue and approved by
the Swedish Financial Supervisory Authority on 28 October 2016 (the
"Prospectus") and any supplement or amendment thereto. The Prospectus relating
to the Rights Issue contains detailed information about Tele2 and its
management, as well as financial statements and other financial data. The
Prospectus is available at the offices of Tele2 at the address given above.

Offers to the public are permitted in Sweden, the United Kingdom, Ireland,
Denmark, Norway and Finland from and including the date of approval of the
prospectus by the competent authority in Sweden and notified to the relevant
competent authorities in other Member States of the EEA in accordance with the
Prospectus Directive (“Prospectus Publication”), through to and including the
settlement date.

Elsewhere in the EEA, this announcement and this offering are only addressed to
and directed at persons in Member States of the EEA, who are "Qualified
Investors" within the meaning of Article 2(1)(e) of the Prospectus Directive.
The securities are only available to, and any invitation, offer or agreement to
subscribe, purchase or otherwise acquire such securities will be engaged in only
with Qualified Investors. This announcement should not be acted upon or relied
upon in any member state of the EEA by persons who are not Qualified Investors.

"Prospectus Directive" means Directive 2003/71/EC (as amended), and includes any
relevant implementing measure in any Member State concerned.

In advance of Prospectus Publication, this announcement is for distribution only
to and is directed only at persons who (i) have professional experience in
matters relating to investments which fall within Article 19(5) of the Financial
Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended, the
“Financial Promotion Order”), (ii) are persons falling within Article 49(2)(a)
to (d) (“high net worth companies, unincorporated associations etc”) of the
Financial Promotion Order, (iii) are outside the United Kingdom, or (iv) are
persons to whom this announcement, to the extent that it constitutes an
invitation or inducement to engage in investment activity (within the meaning of
section 21 of the Financial Services and Markets Act 2000) in connection with
the issue or sale of any securities may lawfully be communicated or caused or be
communicated, or who otherwise may receive this announcement on the basis that
section 21 of the Financial Services and Markets Act 2000 does not apply (all
such persons together being referred to as “relevant persons”). This
announcement is directed only at relevant persons and must not be acted on or
relied on by persons who are not relevant persons. Any investment or investment
activity to which this announcement relates is available only to relevant
persons and will be engaged in only relevant persons.

TELE2 IS ONE OF EUROPE'S FASTEST GROWING TELECOM OPERATORS, ALWAYS PROVIDING
CUSTOMERS WITH WHAT THEY NEED FOR LESS. We have 17 million customers in 9
countries. Tele2 offers mobile services, fixed broadband and telephony, data
network services, content services and global 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. For
definitions of measures, please see the last page of the Annual report 2015.