Telia Company AB (publ) (OM:TELIA) commences share repurchases on May 9, 2022, under the program mandated by the shareholders in the Annual General Meeting held on April 6, 2022. As per the mandate, the company will repurchase 408,963,170 own shares, representing 10% of its issued share capital, such that the company's holding at any time does not exceed 10% of all shares in the company. The shares will be repurchased at a price within the spread between the highest bid price and lowest ask price from time to time on Nasdaq Stockholm and/or Nasdaq Helsinki.

The repurchased shares may be used for payment in connection with acquisitions of companies or businesses which the company may undertake, or to settle any deferred payments related to such acquisitions, or for financing such acquisitions or deferred payments and improve the company's capital structure and thereby create added value for the shareholders, and/or to give a possibility to the company to transfer own shares to the participants in the company's long-term incentive programs. The program will be valid till the next Annual General Meeting in 2023. As of March 7, 2022, the company has 4,089,631,702 shares in issue and no shares in treasury.