Our people make the difference

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Transcom WorldWide: Stockholmsbörsen - TWWA / TWWB

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Our people make the difference

Transcom WorldWide S.A.

Investor Presentation

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Transcom is Europe’s largest CRM operator by geographic footprint

Fast growing Customer Relationship Management (CRM) company

Over 50 service centres delivering services to 28 countries

Over 12,200 employees speaking 33 languages in

over 9,800 workstations

Q2 2006 revenues

up 21%

to €130.1m (€108.0m)

Q2 2006 net income

up 28%

to €5.9m (€4.6m)

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Company Overview

History and Development

Founded in 1995, spun off from Kinnevik on 6 September 2001 and listed on

Stockholmsbörsen

Unique pan-European footprint developed in close association withTele2,

Europe’s largest alternative telecommunications company

1999 2000 2001 2002 2003 2004 2005 H106 9,900 11,700 49 445 28 41 12,200 52* 267 369 23 28 8,500 37 286 19 7,700 30 229 17 People 2,099 3,748 5,500 Centres 12 18 26 Revenue (€m) 108 161 215 Countries 8 11 15

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Inbound Communication CRM Consultancy Services Telephone, E-mail, Internet & Fax and IVR

Telemarketing and Outbound

Lead generation, sales conversion, market analysis, customer loyalty and win back programmes

Administrative Tasks

Back office support, distributing information, processing correspondence, database registration and contact processing

Web Servicing

Improving customer interaction with client websites

Advise and improve CRM operations, tailored solutions available

Contract Automation

Sophisticated application of IVR systems

Credit Management Services

Collections, sales ledger management, front office, reminder services, debt surveillance & debt purchase in Business to Business and Business to Consumer

Legal Services

Certified lawyers provide expertise in wide range of services including: bond issues, power of attorney and requests for information regarding laws, contract creation and consultancy

Services Offered

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Services to 28 countries with over 12,200 employees speaking 33 languages across more than 50 sites

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Austria - Vienna

Belgium - Liege, Leuven

Chile - Lota*

Croatia - Vukovar

Czech Republic - Prague

Denmark - Albertslund, Vordingborg

Estonia - Tallinn

England - St. Albans

Finland - Turku

France - Paris, Raon, Tulle, Roanne, Soissons, Montluçon

Germany - Rostock, Halle, Dusseldorf, Tönivorst

Hungary - Budapest

Italy - Milan, L’Aquila, Lecce, Bari

Latvia - Riga

Lithuania - Vilnius

Luxembourg - Howald

The Netherlands - Eindhoven, Groningen

Norway - Halden, Fredrikstad, Oslo

Poland - Olsztyn

Portugal - Famalicao

Romania - Bucharest*

Serbia - Belgrade*

Spain - Leon, Madrid (2), Barcelona (2), Seville

Sweden - Karlskoga, Borås, Strömsnäsbruk, Kungsör, Norrköping, Stockholm

Switzerland - Zurich

Tunisia - Tunis

Company Overview

Call centre locations

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Company Overview

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Transcom WorldWide: Stockholmsbörsen - TWWA / TWWB 7

Market Overview

UK Belgium _Ireland Sweden Denmark Netherlands Norway France Switzerland Spain Israel South Africa Greece Portugal Turkey Hungary Poland Czech Republic Russia Finland Austria Tier 1 Tier 2 Tier 3 Germany Italy

Low Average market High

maturity H ig h Lo w M a rk e t gr o w th , 20 03 – 2008 A v era g e UK Belgium _Ireland Sweden Denmark Netherlands Norway France Switzerland Spain Israel South Africa Greece Portugal Turkey Hungary Poland Czech Republic Russia Finland Austria Tier 1 Tier 2 Tier 3 Germany Italy

Low Average market High

maturity H ig h Lo w M a rk e t gr o w th , 20 03 – 2008 A v era g e

Relative CRM Market Development in Europe

Eastern &

Southern

Europe

are the

fastest-growing

CRM markets

(Size of circle indicates number of Agent Positions) Source: Datamonitor

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Market Overview

CRM Agent positions by Vertical Segments

Source: Datamonitor

0 50 100 150 200 250 300 350 400 Other

Healthcare Entertainment, media and leisure Distribution and wholesale Technology Utilities Public sector Travel and tourism Retail Communications Manufacturing Outsourcing Financial services Agent positions (000s) 2008 2003 Forecast to grow at CAGR of 11.3%in 2003-2008

Outsourcing

is one of the fastest

growing vertical

markets across

EMEA

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Market Overview

Relative Development of Outsourced CRM Vendors

Specialization Total solution Product coverage Small national Large national Large international No. of companies Many Few Size of outso urcer , w it h in E u rop e Small national

- Highly fragmented market - Top 10 European firms

account for < 25% of the market *

* for the 7 major European countries, UK, Ireland, Italy, France, Germany, Spain and the Netherlands

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Strategy

Transcom’s focus is to become

the

largest

and

most profitable

Outsourced Services Organisation

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Transcom’s Key Objectives

Focus on increasing Collections and other high margin businesses

Continue to deliver strong revenue growth

Expand in fast growing new markets

Increase revenue share outside Tele2

Further develop near / offshore services

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Transcom’s Unique Selling Points

Ability to offer unrivalled pan-European service

Established in lower cost 2nd _{tier city locations delivering …}

Lower fixed operating costs

Multi-million Euro Government investment

Higher quality of workforce

Lower staff turnover

Better efficiencies

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Strategy of deploying consistent technology & organisational structure

Highly flexible and dynamic culture capable of rapid growth & deployment

Low cost cross border (offshore) service offerings

Double digit revenue growth without capital expansion

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Execution

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Transcom’s Credit Management Services (Collections)

2nd _{largest geographic footprint in Europe, with strong organic growth supplemented by}

add-on acquisitions:

April 2005 – Acquisition of Creditexpress in the Czech Republic

January 2006 – Acquisition of Dr. Finsterer + Koenigs in Germany

March 2006 – Acquisition of Credit & Business Services (CBS) in the UK

TWW estimates 50% profits will be derived from Collections services by Q4 2007

Actively pursuing partnerships with debt portfolio purchasers

Strong synergies with existing CRM business…

Contact centre infrastructure and shared services Customer overlap / cross-sell opportunities

Integrated product offerings

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Offshore opportunities = low cost cross-border services with skills / language synergy Key “Offshore” opportunities are …

Baltic States serving UK and Finland

North Africa serving France, Spain and Italy Latin America serving Spain and Portugal Poland serving Germany

France / Austria serving Switzerland

Baltics is competitive with India and remains a priority for Transcom Baltic advantages over India are …

Accessible from UK within 2 hours Equivalent operating cost to India

Excellent availability of highly educated English speaking workforce Political stability

European empathy

The “Offshore” Opportunity

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Q2 2006 Highlights

New CRM contracts in key vertical markets included:

Hydro Texaco (Norwegian petroleum group)

Elcoteq (Global electronic manufacturing services company)

Banco Popolare (Italian financial services group)

New debt collection contracts with:

Banco Invesris (Spanish financial services)

OTIS (World’s leading manufacturer, installer and maintainer of elevators)

Ford Credit (Automotive financing group)

Launch of new contact centres in:

Leuven (Belgium), Soissons (France) and Montluçon (France)

Expansion of existing operations in:

Groningen (Netherlands) and Halle (Germany) Operating Review

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Execution

Financial Review

Second Quarter 2006 Highlights

Net sales up 21% to €130.1 million (€108.0 million)

Profit before tax up 27% to €8.1 million (€6.4 million)

Net income up 28% to €5.9 million (€4.6 million)

EPS before dilution up 25% to €0.08 (€0.06)

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Execution

First Half 2006 Highlights

Profit before tax up 30% to €18.5 million (€14.2 million)

Net income up 31% to €13.5 million (€10.3 million)

EPS before dilution up 36% to €0.19 (€0.14)

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Execution

Full Year 2005 Highlights

Profit before tax up 36%* to €32.7 million (€24.0 million*)

Net income up 42%* to €24.5 million (€17.3 million*)

Basic EPS up 42%* to €0.34 (€0.24*)

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Execution

Net Sales & Gross Profit Development

+ 33% CAGR NET SALES 0 25 50 75 100 125 150 175 200 225 250 275 300 325 350 375 400 1998 1999 2000 2001 2002 2003 2004 EUROm 2005 425 450 + 20% YOY NET SALES IN 2005 Net Sales Gross Profit

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Transcom WorldWide: Stockholmsbörsen - TWWA / TWWB 21

Execution

-10 0 10 20 30 40 50 60 70 80 1998 1999 2000 2001 2002 2003 2004 EUR O m Gross Profit Pre-tax Profit

Gross Profit & Pre-tax Profit Development

+ 72% YOY PRE-TAX PROFIT IN 2005 2005 90 100

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Financials

Consolidated Financial Summary (€million, except EPS)

Q2 2006 Q2 2005 HY 2006 HY 2005 FY 2005

108.0 267.3 53.2

-34.9

18.3

Gain on sale of subsidiary 0.2 0.0 0.2 0.0 0.0 Net interest and other financial items 0.0 -0.1 0.0 -0.2 -0.4

18.5 13.5 0.19 72,642,648 21.5 444.8 214.7 42.9 -28.5 14.4 14.2 10.3 -15.0 0.14 93.1 -60.0 33.1 72,142,685 32.7 24.5 6.5 0.34 72,227,673 6.4 4.6 0.06 72,273,976 130.1 25.6 -17.7 7.9 8.1 5.9 0.08 72,687,092 Net Sales Gross Income SG&A Operating Income Pre-tax Profit Net result after tax

Earnings per Share (EUR)

Total weighted average outstanding number of shares before dilution

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Financials

Consolidated Balance Sheet (€million)

30 Jun 06 30 Jun 05 FY 2005 83.9 84.2 62.1 22.1 153.4 102.0 51.4 237.6 133.6 0.7 8.3 95.0 237.6 62.1 21.8 126.4 91.7 34.7 210.3 117.9 1.0 8.3 83.1 210.3 101.2 75.0 26.2 139.7 110.1 29.6 240.9 122.4 0.0 19.2 99.3 240.9 Fixed assets Goodwill

Other fixed assets

Current assets

Short-term receivables Cash and bank

Long-term liabilities Short-term liabilities

Total liabilities Total assets

Shareholders equity Minority interest in Equity

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Financials

Consolidated Cash Flow Statement (€million)

HY 06 HY 05 FY 2005 51.4 37.7 34.9 -10.5 -1.5 Dividend paid -25.4 0.0 0.0 -5.8 -3.4 13.7 51.4 18.2 -7.9 -14.1 -3.8 11.2 -21.8 Opening liquid funds

29.6 37.7 15.1 -5.2 -1.5 -7.4 -4.0 -3.0 34.7 Purchase of business Working capital movement Financing activities

Cash flow from Operations Capital expenditure

Net cash flow Closing liquid funds

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Further growth of non-Tele2 business

Margin development through higher value services

Expansion of debt collection across enterprise

Continued geographical expansion with low cost centres

Potential further acquisitions (particularly in debt collection industry) from strong cash position

Continued improvements in business efficiency

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Outlook and Focus for 2006

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Our people make the difference