The newly established Baltic tower company based in Lithuania will own tower and rooftop assets in Estonia, Latvia and Lithuania, a total of around 2,700 tower and rooftop sites. Following the transaction, Tele2 will be the anchor tenant under a 20-year Master Service Agreement (MSA), ensuring long-term and secure access to critical infrastructure.

"We want to develop our tower assets together with a partner who brings both capital and expertise. This is a way for us to create additional value from the assets we have, together with an experienced partner who knows this business well," says Jean Marc Harion, President and CEO of Tele2.

"We are proud to partner with Tele2 and support the future growth of digital connectivity in the Baltics. With a long-term perspective and commitment to investment, we see strong potential to develop high-quality, efficient and scalable infrastructure," says Tim Culver, CEO of GCI.

"We have strong conviction in telecommunications infrastructure and the importance of tower assets in serving growing mobile demand. With both Manulife IM's experience in this space and a seasoned leadership team, this partnership with Tele2 positions us to support the next wave of digital infrastructure investment," says Recep Kendircioglu, Global Head of Infrastructure, Manulife Investment Management.

The parties have also committed to a 10-year investment plan to build new sites across the Baltics, supporting continued expansion and improved network coverage.

The transaction is expected to have a negative underlying EBITDAaL impact of around EUR 35 million in 2026 on Tele2 and is subject to customary regulatory approvals and is expected to be finalised in early 2026.

For more information, please contact:

Fredrik Hallstan, Head of External Communications Phone: +46 761 15 38 30

Stefan Billing, Head of Investor Relations, Phone: +46 701 66 33 10

This information is information that Tele2 AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 08:00 CEST on August 6, 2025

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