Telia has entered into an agreement to increase its ownership in Finnish fiber operator Valokuitunen from 40% to 49%. Formed in 2020 as a joint venture between Telia and CapMan Infra, Valokuitunen is Finland's fiber-to-the-home (FTTH) market leader. The company's network reaches more than 400,000 homes in over 100 municipalities through an open-access model hosting multiple service providers, including Telia. The transaction is expected to be completed during the second quarter of 2026, with an anticipated cash consideration of approximately EUR 30 million for Telia's increase in ownership.

The ownership increase reflects Telia's strategy to offer converged, high-quality services to customers across Finland, and the company's focus on its core connectivity and communications services business in the Nordic and Baltic regions. It is in line with Telia's balanced approach, based on partnerships and financial strength, to long-term infrastructure investments.

Telia will continue to be both a communications operator and service provider in Valokuitunen's network.

At the same time, Brookfield, through its mid-market infrastructure strategy, Brookfield Infrastructure Structured Solutions (BISS), has agreed to acquire the remaining 51% of Valokuitunen from CapMan Infra.

Since 2021, Telia and Brookfield have had an ongoing strategic partnership through Telia Towers AB, a holding structure for Telia's tower assets in Sweden, Finland and Norway that is 51% owned by Telia and 49% by Brookfield and Alecta, and this joint investment further consolidates and builds on that relationship.

Patrik Hofbauer, Telia Company President and CEO: "Starting with just 20,000 households, Valokuitunen has built both a nationwide fiber network and a market-leading position in only a few years. Increasing Telia's ownership is in line with our strategy to invest in our core, and shows our long-term commitment to taking Finland's world-class digital infrastructure to the next level. We look forward to working with Brookfield, whom we know well from our successful Telia Towers partnership, and Valokuitunen's dedicated management team to realize our high ambitions."

Ian Simes, Managing Partner and Co-Head of Brookfield Infrastructure Structured Solutions: "We are pleased to build on our successful partnership with Telia through this investment in Valokuitunen, further strengthening our collaboration in the digital infrastructure sector across the Nordics. Valokuitunen has established a strong position in Finland's fiber market, supported by a high-quality network, an open-access model and an experienced management team, and we look forward to supporting its continued growth over the long term."

NOTES TO EDITORS

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ABOUT TELIA

Telia Company (STO: TELIA) is a leading telecommunications operator in the Nordic and Baltic regions. Every day, we deliver world-class connectivity and communications services to millions of customers through our sustainable and secure networks - enabling people, businesses and societies to thrive and grow. Our unique position at the center of digitalization shapes our ambition to be a trusted and progressive partner and gives us our purpose: to reinvent better connected living. Find out more at www.teliacompany.com.