Reported sales in the quarter increased by 1% YoY, with improved operating income in the core business.

In the quarter, strong sales growth in the Middle East, Europe and Asia was offset by a continued decline in North America.

Mobile broadband sales increased both YoY and QoQ as we continued to deliver on previously communicated key contracts. These contracts contributed to sales growth in mainland China, Taiwan, Japan, India and parts of Europe. In mainland China the majority of the business in the quarter was related to the continued LTE deployments.

Sales in North America were mainly driven by operator investments in capacity and quality enhancements also this quarter, although at a slower pace. Business activity slowed further in the quarter as operators remained focused on cash flow optimization in order to finance major acquisitions and spectrum auctions.

Consumer demand and mobile data traffic growth continues to be strong in North America. However, with current visibility, and for the reasons above, we anticipate the North American mobile broadband business to remain slow in the short-term.

Global Services showed stable growth with momentum for professional services driven by managed services and systems integration sales. During the quarter, 17 new managed services contracts were signed, including a pan-India contract.

Operating income in the fourth quarter improved YoY, primarily driven by higher software sales and efficiency enhancements. This was partly offset by higher operating expenses, related to the planned ramp up of investments in targeted areas. The net currency effect, when considering both transaction and translation exposure as well as volatility reductions, contributed somewhat positively to the operating income.

For the full year 2014, Ericsson showed stable sales development with solid operating margin. A sales

decline in North America of -8% was compensated by growth in the Middle East, Europe and Asia. Operating margin improved in the core business driven by higher share of capacity sales and efficiency enhancements. This was partly offset by currency hedge losses, investments in targeted areas as well as losses related to the modems operations.

The more than 100 IPR licensing agreements signed to date show the value of our R&D investments and enable industry players to continue to innovate and bring exciting products to the market. In 2014, IPR revenues showed a steady positive development. We remain committed to licensing our standard-essential patents on fair, reasonable and non-discriminatory (FRAND) terms.

At the Capital Markets Day (CMD) in November we outlined the progress on our Networked Society strategy, with focus on market development, growth agenda, transformation and profitability. In line with our strategy, we have invested into our targeted areas; IP networks, Cloud, TV & Media, Industry & Society and OSS & BSS. Sales in targeted areas showed a growth of more than 10% in 2014.

We continue to proactively identify efficiency opportunities in the Company. The cost and efficiency program presented at the CMD, with the ambition to achieve savings of approximately SEK 9 b. with full effect during 2017, is progressing. Activities for the discontinuation of the modems business are included in the program and are ahead of plan.

We improved cash flow from operating activities in 2014 and generated a full-year cash flow of SEK 18.7 (17.4) b. For the third consecutive year we have exceeded our cash conversion target of more than 70%. This resulted in a solid balance sheet, enabling us to continue to implement our strategy and to deliver consistent returns to our shareholders. The Board of Directors proposes a dividend for 2014 of SEK 3.40 (3.00) per share, an increase of 13%.

Hans Vestberg

President and CEO

FOURTH QUARTER COMMENTS¹⁾

Net sales

Eight out of ten regions showed growth with the Middle East, Western and Central Europe and South East Asia as the main contributors. Sales in North America decreased as operators remained focused on cash flow optimization to finance major acquisitions and spectrum auctions.

Sales growth for segment Global Services YoY was driven by professional services.

Sales increased sequentially driven by mobile broadband coverage projects, primarily in Asia and Europe, higher software sales and IPR revenues. The increase was partly offset by the decline in capacity sales in North America. Global Services showed strong sequential growth driven by both Professional Services and Network rollout.

During the quarter the SEK has continued to weaken towards a number of currencies, including the USD, impacting sales positively in the quarter.

Gross margin¹⁾

Despite the negative impact from increased LTE coverage projects in mainland China, gross margin increased YoY driven by higher software sales and efficiency enhancements.

Sequentially, the gross margin improved driven by higher software sales and increased IPR revenues. This was partly offset by coverage projects in mainland China and a higher share of Global Services sales with a large share of project completions in the quarter.

Restructuring charges

Restructuring charges were in line with Q4 last year. Sequentially, restructuring charges increased mainly related to implementation of the service delivery strategy. In the quarter, implementation started of the cost and efficiency program that was announced in November 2014. The program did not generate any significant restructuring charges in the quarter.

With current visibility, total restructuring charges for 2015 are estimated at approximately SEK 3-4 b.

Operating expenses (opex)

Total opex increased YoY, for R&D as well as for Selling and G&A expenses. The increase mainly relates to investments in the targeted areas and negative currency effects, partly offset by reduced expenses for the modems business.

Other operating income and expenses

The revaluation and realization effects from currency hedge contracts were SEK -1.0 b. of which the majority was realized, SEK -0.8 b. This is to be compared with the total impact from hedges of SEK -1.3 b. in Q3 2014 and SEK 0.1 b. in Q4 2013.

The negative effect derives mainly from the hedge contract balance in USD, which has further decreased in value. The SEK has weakened towards the USD between September 30 (SEK/USD rate 7.27) and December 31, 2014 (SEK/USD rate 7.79).

Operating income¹⁾

Operating income improved YoY. This was primarily driven by higher software sales and efficiency enhancements. Operating income was negatively impacted by higher operating expenses related to the planned increases in of investments in targeted areas as well as negative effects from currency hedge contracts. However, the net currency effect had a positive impact on operating income.

QoQ operating income improved driven by higher sales and improved gross margin. This was partly offset by increased opex and restructuring charges.

Financial net

The negative financial net increased YoY, mainly due to negative revaluation of foreign currencies and lower interest income from the portfolio of interest bearing assets. Sequentially, the negative financial net increased as an effect of lower interest income and currency revaluation effects.

Net income and EPS¹⁾

Net income and EPS diluted increased following the improved operating income.

FULL-YEAR COMMENTS¹⁾

Reported sales were flat and amounted to SEK 228.0 (227.4) b. Strong sales growth in China, the Middle East and India was offset by lower sales in North America and Japan, where several larger mobile broadband coverage projects were completed. During the year the SEK has weakened towards a number of currencies, including the USD, which has had a gradual positive impact on sales.

Segment Networks and Global Services sales were flat YoY, while Support Solutions sales grew by 3%.

IPR and licensing revenues amounted to SEK 9.9 (10.6) b. For 2013, IPR revenues included an initial payment of SEK 4.2 b. from Samsung for patent licensing.

The mix of sales by commodity was: Software 24% (24%), hardware 34% (34%) and services 42% (42%).

Restructuring charges amounted to SEK 1.5 (4.5) b. and were mainly related to the continued implementation of the service delivery strategy. Implementation started on the cost and efficiency program announced in November 2014. As part of its continuous business transformation, annual restructuring normally generates charges of approximately SEK 2 b. In addition, the cost and efficiency program will generate approximately SEK 3-4 b. in restructuring charges in 2015-2017.

With current visibility, total restructuring charges for 2015 are estimated at approximately SEK 3-4 b.

Gross margin increased to 36.2%, due to a business mix with higher share of capacity sales, lower restructuring charges and efficiency enhancements. The Global Services share of Group sales was flat at 43%, where the share of Network Rollout sales declined to 12% (14%) as a result of fewer large coverage projects.

Total opex increased to SEK 63.4 (58.5) b. due to increased organic expenses in targeted areas and acquisitions such as Microsoft Mediaroom as well as inclusion of the modems operations.

In line with the strategy to establish leadership in targeted areas, the company has increased its R&D activities, primarily in IP and Cloud. In addition the modems operations were taken over from the ST-Ericsson joint venture. This resulted in total R&D expenses of SEK 36.3 (32.2) b.

Other operating income and expenses decreased to SEK -2.2 (0.1) b. of which SEK -2.8 (0.5) b. relates to negative currency hedge effects. This derives from the hedge contract balance in USD, which has further decreased in value. The SEK has weakened towards the USD between December 31, 2013 (SEK/USD rate 6.46) and December 31, 2014 (7.79).

Operating income increased slightly to SEK 16.8 b., positively impacted by an improved gross margin. Operating income was negatively impacted by higher operating expenses and negative effects from hedge contracts. Operating margin was 7.4%.

Financial net amounted to SEK -1.0 (-0.7) b. The difference is mainly attributable to foreign currency revaluation effects.

The tax rate for 2014 was 30% compared with 29% in 2013. Tax costs were SEK -4.7 (-4.9) b.

Net income¹⁾ increased to SEK 11.1 b., for the same reasons as for the increase in operating income.

EPS diluted was SEK 3.54. EPS.

FOURTH QUARTER COMMENTS¹⁾

Net sales

The mobile broadband business in North America was slow. At the same time sales were strong in Western and Central Europe, the Middle East, North East Asia as well as in Northern Europe and Central Asia.

Sales increased QoQ driven by growth in Japan, Taiwan and mainland China as a result of delivering on previously communicated key contracts. Sales related to Packet Core showed growth sequentially, driven by mobile data traffic growth in both developed and developing markets.

Operating income and margin

The operating income continued to develop well and improved YoY driven by strong software sales and efficiency enhancements. The improvement was partly offset by higher opex, primarily for R&D, and the negative impact from currency hedge contracts.

The negative effect from hedges was SEK -0.8 (0.1) b. YoY.

Sequentially, the improved operating income was mainly driven by larger volumes and higher software sales but was partly offset by higher opex and more LTE coverage projects.

Business update

The Ericsson Radio Dot system was taken into commercial operation in the quarter. Several advanced LTE technology innovations were demonstrated in the quarter, reflecting the company’s technology leadership.

The Ericsson solution for VoLTE continued to gain momentum across regions. Two customers in Japan launched commercial VoLTE services in the quarter.

To date 146 contracts for the multi-application IP router, SSR 8000, has been signed, since the launch in December 2011. During the quarter, 12 new contracts were signed of which two were for fixed networks.

FULL-YEAR COMMENTS¹⁾

Sales were lower in North America where two large LTE coverage projects were completed. In addition, operators in the US increased their focus on cash flow optimization during the second half of the year with reduced network investments as a consequence. The decline in the North American business was partly offset by increased mobile broadband sales in the Middle East. Large LTE network deployments continued in mainland China. In 2014, operators increased their focus on improving network performance as a key

differentiator. This, in combination with continued data traffic increase, and introduction of new services such as VoLTE, led to increased capacity business in Radio, IMS and IP.

Operating income improved significantly compared with last year due to increased capacity business, earlier actions to improve commercial and operational efficiency and lower restructuring charges. This was partly offset by a negative effect from currency hedges of SEK -2.1 (0.5) b. and higher operating expenses mainly in IP and Cloud. Restructuring charges amounted to SEK -0.4 (-2.2) b.

FOURTH QUARTER COMMENTS

Net sales

Sales increased YoY, driven by Professional Services with strong development in Managed Services and Consulting and Systems Integration.

Global Services reported sales increased in nine out of ten regions and Network Rollout sales were unchanged YoY.

Growth in Global Services sales QoQ was driven by higher project activity in Network Rollout and by Professional Services where Consulting and Systems Integration, as well as Network Design and Optimization, showed strong development. All ten regions showed double-digit growth QoQ.

Operating income and margin

Global Services operating income declined YoY, negatively impacted by currency hedge effects and a higher share of managed services contracts in the transformation phase. Although Network Rollout still shows negative result, good progress has been made in returning this business to profitability.

Sequentially Global Services operating income improved driven by higher sales in Professional Services.

Business update

During the quarter, 17 new managed services contracts were signed including a pan-India contract with Reliance Communications. There is continued momentum for Consulting and Systems Integration and during the quarter 22 significant contracts were signed. The business momentum for managed services continues as operators look to outsource operations to improve network performance, quality and reliability while maintaining cost control.

Sales for Global Services were flat YoY compared with 2013, despite strong development in Managed Services and in Network Design and Optimization. There was continued momentum for Professional Services with double-digit sales growth during the second half of the year. Sales in targeted areas developed positively and in line with plan. Network Rollout sales declined primarily due to a lower share of coverage projects.

Global Services operating income was flat YoY. Network Rollout margin gradually improved during the

year due to the declining dilutive effect from the European network modernization projects. Professional Services operating margin declined to 12% (14%) partly due to negative currency hedge effects and partly due to the high share of managed services contracts in the transformation phase.

Restructuring charges declined to SEK -0.8 (-2.0) b. The implementation of service delivery strategy, of moving local service delivery resources to global centers, continued but at a slower pace during the first half of the year.

FOURTH QUARTER COMMENTS¹⁾

Net sales

Sales declined YoY. The overall transition from traditional telecom software license business models to recurrent license revenue deals continues, based on the Ericsson software model.

Sales increased QoQ with good development across the product portfolio.

Operating income and margin

Operating income recovered in the quarter, reaching a positive result of SEK 0.4 b. and double-digit operating margin. The YoY decline is primarily due to higher R&D investments in the targeted area of TV & Media.

Operating income improved QoQ due to higher sales, including higher IPR revenues.

Business update

Demand for OSS and BSS continued to be strong. Customer interest to partner with vendors that can

address an end-to-end suite of OSS and BSS solutions is increasing. With its complete OSS and BSS offerings, the company is well positioned to take on this role.

The activity is high in the media industry with mergers and acquisitions among leading players, driving the IP transformation of the industry. The company is well positioned through recent acquisitions and Ericsson MediaFirst, the new cloud-based TV platform.

FULL-YEAR COMMENTS¹⁾

Reported sales grew of 3% driven by growth in OSS and in TV & Media through the Mediaroom acquisition. Regions North America and North East Asia showed strong growth while Latin America and Sub-Saharan Africa declined, primarily due to lower BSS sales.

Operating income declined slightly, partly due to lower sales in legacy systems and partly due to acquired operating expenses.

Background

Ericsson took over the LTE thin modem operations as part of the breakup of the joint venture with STMicroelectronics in August 2013. Since the integration, the modems market developed in a direction that reduced the addressable market for thin modems. In addition, there is strong competition, price erosion and an accelerating pace of technology innovation. Success in this evolved market requires significant R&D investments. As a consequence, Ericsson announced, on September 18 2014, the discontinuation of further development of modems and the shift of approximately 500 R&D resources to Networks to pursue growth opportunities in the radio business.

Operating income

Operating income was SEK -0.1b. in the quarter and SEK -2.0 b. for the full year.

During the quarter good progress has been made with the discontinuation of the modems business and execution is ahead of plan. During the quarter end-of-life agreements were signed with existing customers.

The discontinuation of the modems business will lead to a significant reduction in costs. During the quarter good progress was made and activities are ahead of plan.

North America

Sales of mobile broadband in the quarter continued to be driven by network quality and capacity expansions, however at lower levels as operators remained focused on cash flow optimization to finance acquisitions and spectrum auctions. The professional services business was driven by network ICT transformation contracts, including modernization of OSS and BSS.

Full-year sales declined, driven by lower network sales as a result of large mobile network coverage projects coming to an end, and increased operator focus on cash flow in the second half of the year. Sales in Support Solutions and Professional Services continued to grow, driven by OSS and BSS modernization

Latin America

Sales decreased slightly YoY. The business continued to be driven primarily by operator investments in mobile broadband coverage projects and related services. Currency restrictions impacted investments in parts of the region.

Full-year sales increased driven by mobile broadband coverage projects and network quality investments, partly offset by currency restrictions.

Northern Europe and Central Asia

Sales grew driven primarily by mobile broadband infrastructure investments in Russia. Global Services sales increased driven by Professional Services business. TV & Media showed strong development in the quarter.

Full-year sales increased, driven primarily by mobile broadband deployments in Russia with sales of SEK 6.7 (5.6) b. Professional Services sales grew, driven by network design and optimization services. TV & Media business showed positive development improvement.

Western and Central Europe

Sales increased YoY driven primarily by mobile broadband deployments and investments in network quality. Demand for managed services continued as operators seek network quality and operational efficiencies.

The European modernization projects came to an end during in 2014. Sales growth was increasingly driven by investments in network quality and capacity during the year.

Mediterranean

Sales in the quarter increased YoY driven mainly by mobile broadband capacity expansion business and managed services.

Full-year sales decreased as the European modernization projects came to an end while managed services contributed positively to sales.

Middle East

Sales continued to show good growth YoY, driven by mobile broadband projects and capacity expansions across the region. Overall demand for mobile broadband is driven by the rapid increase in data traffic and coverage requirements for new mobile licenses.

Full-year sales growth was driven by mobile broadband investments related to new licenses and growth in data traffic in both advanced and developing markets.

Sub-Saharan Africa

Sales increased YoY on the back of increased spending by customers in key markets. Lower handset prices is the key driver of mobile data traffic growth. This, together with regulatory quality requirements, drove mobile broadband investments.

Full-year sales declined but recovered in the second half of the year, mainly driven by operator focus on network traffic and quality management. This resulted in a continued demand for managed services.

India

Sales increased YoY mainly due to higher operator spending driven by continued growth in mobile data traffic. Global Services sales showed a strong development mainly as a result of the first pan-India managed services contract.

Full-year sales growth was driven by mobile broadband infrastructure investments. Increased smartphone penetration drove growth in mobile data usage.

North East Asia

The sales increase YoY was partly offset by continued lower network investment levels in Korea. Deliveries of previously awarded 4G/LTE contracts impacted sequential sales positively.

Full-year sales increased in mainland China and Taiwan as a result of delivering on previously awarded 4G/LTE contracts. The increase was partly offset by reduced network investment levels in Korea and Japan.

South East Asia and Oceania

Sales growth was predominantly driven by mobile broadband coverage projects. TV & Media developed favorably in the quarter, contributing to growth in Support Solutions.

Full-year sales remained flat. Growth in major rollout projects in Australia compensated for a decline in Indonesia where major 3G projects peaked in 2013 due to the timing of investment cycles.

Other

Sales declined YoY, impacted by last year’s initial payment from Samsung. Sales were strong sequentially, driven by licensing revenues.

Full-year sales declined somewhat due to exit of the telecom and power cable businesses in 2013 as well as lower IPR revenues. Broadcast services grew, driven by the acquired Red Bee media business that was fully consolidated during second half 2014.

Cash flow from operating activities declined YoY, mainly as a result of delivery on previously awarded key contracts.

Investing activities amounted to SEK -1.7 b. and investments in property, plant and equipment were SEK -1.6 b.

Short-term investments was SEK 4.1 b.

No major financing activities occurred in the quarter.

Cash outlays regarding restructuring amounted to approximately SEK 0.2 b. in the quarter.

Despite negative effects from currency, days sales outstanding and inventory days decreased sequentially.

Accounts payable days decreased by one day.

FULL-YEAR COMMENTS

Cash flow from operating activities was positive at SEK 18.7 (17.4) b.

Investments in property, plant and equipment were SEK 5.3 (4.5) b., representing 2% of sales, primarily related to test sites and equipment for R&D and network operation centers as well as manufacturing and repair operations.

Investments are being made in three new global ICT centers. The centers will support R&D and services in developing and verifying solutions more efficiently and bringing innovation faster to the market. The first center, in Linköping, Sweden, was opened in 2014.

Total investing activities amounted to SEK 7.5 (11.1) b. Acquisitions and divestments, net, were SEK 4.4 (2.7) b. The acquisitions are strategic investments made to strengthen the position in targeted areas.

In 2014, approximately SEK 8 b. of debt outstanding was repaid:

Days sales outstanding (DSO) increased to 105 (97) days mainly due to geographical mix and negative currency effects. Inventory turnover days increased to 64 (62) days due to a larger share of projects and negative currency effects.

Accounts payable days increased to 56 (53) days.

Provisions amounted to SEK 4.4 (5.4) b. at year end reflecting implementation of previous years’ efficiency programs and headcount reductions.

FOURTH QUARTER COMMENTS

Gross cash increased in the quarter due to strong operating cash flow. However, net cash decreased in the quarter as a result of higher post-employment benefits of SEK 6.4 b. due to lower discount rates.

FULL-YEAR COMMENTS

The average maturity of long-term borrowings as of December 31, 2014, was 5.7 years, compared with 5.1 years 12 months ago.

The net cash decreased from SEK 37.8 to 27.6 b. as a result of increased post-employment benefits of SEK 10.6 b. due to lower discount rates.

Ericsson has an unutilized Revolving Credit Facility of USD 2.0 b.

Debt maturity profile, Parent Company, SEK b.

Dividend proposal

The Board of Directors will propose to the Annual General Meeting to resolve on a dividend of SEK 3.40 (3.00) per share, representing some SEK 11.2 (9.7) b., and April 16, 2015, as the record date for payment of dividend. The dividend reflects this year’s earnings and balance sheet structure, as well as coming years’ business plans and expected economic development.

Ericsson Annual General Meeting

The Annual General Meeting of shareholders will be held on April 14, 2015, 15.00 (CET) at Stockholm Waterfront Congress Centre, Stockholm, Sweden.

Annual Report

The annual report will be made available on our website www.ericsson.com and at the Ericsson headquarters, Torshamnsgatan 21, Kista, Stockholm, Sweden, in the first weeks of March.

Ericsson Capital Markets Day 2014

On November 13, 2014, Ericsson held its Capital Markets Day (CMD) in Stockholm. The company gave an update on the progress of its Networked Society strategy, with focus on market development, growth agenda and profitability.

Ericsson announced additional improvement activities and ways to accelerate cost reductions to achieve savings of approximately SEK 9 b. with full effect during 2017.

To reach the targeted SEK 9 b. savings, and with current visibility, it is estimated that the new and accelerated activities will generate restructuring charges of SEK 3-4 b during the full duration of the three-year program. It is estimated that half of the savings will reduce Ericsson’s operating expenses and the other half will impact cost of sales.

Accelerated efficiency measures will primarily relate to five key areas: portfolio streamlining and ways of working in R&D; structural enhancements in IS/IT; accelerated service delivery transformation; supply chain efficiencies; as well as structural efficiency gains in G&A. Savings will include both headcount reductions and savings in external costs.

Measures will include both new and already initiated actions, such as the discontinuation of the modems operations and savings from establishment of global ICT centers. Progress updates will be included in Ericsson’s earnings reports.

Ericsson acquired Ambient Corporation

On October 1, 2014, Ericsson announced that it has completed the acquisition of Ambient Corporation, a US-based provider of smart grid communications technology for utilities. Ambient’s innovative platform enables utilities to deploy and integrate multiple smart grid applications and technologies, in parallel on a single communications infrastructure. The acquisition increases Ericsson’s ability to help utilities maximize their investments in smart grids.

Ambient also provides product and software maintenance and implementation services, as well as a variety of smart grid consulting services related to product development, network management, as well as smart grid architecture and deployment.

Ambient will be integrated into Ericsson’s Global Services organization.

POST-CLOSING EVENTS

Ericsson announced change in executive leadership team

On January 15, 2015, Ericsson announced that Johan Wibergh, Executive Vice President and Head of Segment Networks, will leave his position to take on a role outside of Ericsson. Wibergh joined Ericsson in 1996 and has since held a number of executive positions within the company. Since 2008, Wibergh has also been part of Ericsson’s Executive Leadership Team. Although stepping down from his position immediately, Johan Wibergh will remain available to Ericsson until April 30, 2015 when he formally leaves the company.

Effective January 15, 2015, Hans Vestberg will, in addition to his role as President and CEO, assume the role as Head of Segment Networks.

Ericsson took legal action against Apple

On January 12, 2015, Apple filed a lawsuit asking the United States District Court for the Northern District of California to find that it does not infringe a small subset of Ericsson’s patents. On January 14, 2015, following Apple’s legal action, Ericsson filed a complaint in the United States District Court for the Eastern District of Texas requesting a ruling on Ericsson’s proposed global licensing fees with Apple. During the past two years of negotiations, the companies have not been able to reach an agreement on licensing of Ericsson’s patents that enable Apple’s mobile devices to connect with the world and power many of their applications. Ericsson filed the suit in order to receive an independent assessment on whether Ericsson’s global licensing offer complies with Ericsson’s FRAND commitment.

The global license agreement for mobile technology between Ericsson and Apple has expired and Apple has declined to take a new license on offered FRAND terms.

DISCLOSURE PURSUANT TO SECTION 219 OF THE IRAN THREAT REDUCTION AND SYRIA HUMAN RIGHTS ACT OF 2012 (ITRA)

During the fourth quarter of 2014, Ericsson made sales of telecommunications infrastructure related products and services in Iran to MTNIrancell and to Mobile Communication Company of Iran, which generated gross revenues (reported as net sales) of approximately SEK 611 million. Ericsson does not normally allocate quarterly net profit (reported as net income) on a country-by-country or activity-by-activity basis, other than as set forth in Ericsson’s consolidated financial statements prepared in accordance with IFRS as issued by the IASB. However, Ericsson has estimated that its net profit from such sales, after internal cost allocation, during the fourth quarter of 2014 would be substantially lower than such gross revenues. During the fourth quarter of 2014 Ericsson and Sherkate Khadamate Ertebati Rightel (“Rightel”) has had discussions relating to potential future sales by Ericsson of telecommunications infrastructure related products and services to Rightel.

Ericsson’s operational and financial risk factors and uncertainties along with our strategies and tactics to mitigate risk exposures or limit unfavorable outcomes are described in our Annual Report 2013. Compared to the risks described in the Annual Report 2013, no material, new or changed risk factors or uncertainties have been identified in the year.

Risk factors and uncertainties in focus short term for the Parent Company and the Ericsson Group include:

Ericsson stringently monitors the compliance with all relevant trade regulations and trade embargos applicable to dealings with customers operating in countries where there are trade restrictions or trade restrictions are discussed. Moreover, Ericsson operates globally in accordance with Group policies and directives for business ethics and conduct.

Stockholm, January 27, 2015

Telefonaktiebolaget LM Ericsson

Hans Vestberg, President and CEO

Org. Nr. 556016-0680

Date for next report: April 23, 2015

Introduction

We have reviewed the condensed interim financial information (interim report) of Telefonaktiebolaget LM Ericsson (publ.) as of December 31, 2014, and the twelve months period then ended. The board of directors and the CEO are responsible for the preparation and presentation of this interim report in accordance with IAS 34 and the Swedish Annual Accounts Act. Our responsibility is to express a conclusion on this interim report based on our review.

Scope of review

We conducted our review in accordance with the International Standard on Review Engagements ISRE 2410, Review of Interim Report Performed by the Independent Auditor of the Entity.

A review consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing (ISA) and other generally accepted auditing standards in Sweden. The procedures performed in a review do not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the interim report is not prepared, in all material respects, in accordance with IAS 34 and the Swedish Annual Accounts Act, regarding the Group, and with the Swedish Annual Accounts Act, regarding the Parent Company.

Stockholm, January 27, 2015

PricewaterhouseCoopers AB

Peter Nyllinge

Authorized Public Accountant

Auditor in Charge

Bo Hjalmarsson

Authorized Public Accountant

For further information, please contact:

Helena Norrman, Senior Vice President, Communications Phone: +46 10 719 34 72

E-mail: investor.relations@ericsson.com or media.relations@ericsson.com

Telefonaktiebolaget LM Ericsson (publ.)

Org. number: 556016-0680

Torshamnsgatan 21

SE-164 83 Stockholm

Phone: +46 10 719 00 00

Investors

Peter Nyquist, Vice President,

Investor Relations

Phone: +46 10 714 64 49, +46 70 575 29 06

E-mail: peter.nyquist@ericsson.com

Stefan Jelvin, Director,

Investor Relations

Phone: +46 10 714 20 39, +46 70 986 02 27

E-mail: stefan.jelvin@ericsson.com

Åsa Konnbjer, Director,

Investor Relations

Phone: +46 10 713 39 28, +46 73 082 59 28

E-mail: asa.konnbjer@ericsson.com

Rikard Tunedal, Director,

Investor Relations

Phone: +46 10 714 54 00, +46 761 005 400

E-mail: rikard.tunedal@ericsson.com

Media

Ola Rembe, Vice President,

Head of External Communications

Phone: +46 10 719 97 27, +46 73 024 48 73

E-mail: media.relations@ericsson.com

Corporate Communications

Phone: +46 10 719 69 92

E-mail: media.relations@ericsson.com

All statements made or incorporated by reference in this release, other than statements or characterizations of historical facts, are forward-looking statements. These forward-looking statements are based on our current expectations, estimates and projections about our industry, management’s beliefs and certain assumptions made by us. Forward-looking statements can often be identified by words such as “anticipates”, “expects”, “intends”, “plans”, “predicts”, “believes”, “seeks”, “estimates”, “may”, “will”, “should”, “would”, “potential”, “continue”, and variations or negatives of these words, and include, among others, statements regarding: (i) strategies, outlook and growth prospects; (ii) positioning to deliver future plans and to realize potential for future growth; (iii) liquidity and capital resources and expenditure, and our credit ratings; (iv) growth in demand for our products and services; (v) our joint venture activities; (vi) economic outlook and industry trends; (vii) developments of our markets; (viii) the impact of regulatory initiatives; (ix) research and development expenditures; (x) the strength of our competitors; (xi) future cost savings; (xii) plans to launch new products and services; (xiii) assessments of risks; (xiv) integration of acquired businesses; (xv) compliance with rules and regulations and (xvi) infringements of intellectual property rights of others.

In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. These forward-looking statements speak only as of the date hereof and are based upon the information available to us at this time. Such information is subject to change, and we will not necessarily inform you of such changes. These statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict. Therefore, our actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors. Important factors that may cause such a difference for Ericsson include, but are not limited to: (i) material adverse changes in the markets in which we operate or in global economic conditions; (ii) increased product and price competition; (iii) reductions in capital expenditure by network operators; (iv) the cost of technological innovation and increased expenditure to improve quality of service; (v) significant changes in market share for our principal products and services; (vi) foreign exchange rate or interest rate fluctuations; and (vii) the successful implementation of our business and operational initiatives.