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TDC: Completed partial demerger

Today, TDC announces that the general meeting of TDC has approved to
complete a partial demerger of TDC in accordance with the strategy
communicated earlier.

The demerger involves a legal separation of the two business units
established in June 2018 (OpCo and NetCo), which upon completion of the
demerger will be transferred to TDC's subsidiaries, Nuuday A/S and TDC
Netco A/S, with effect from 1 January 2019, as further described in the
demerger plan dated 10 May 2019. Certain headquarter functions and the
primary part of TDC's external debt financing will remain in TDC after
completion of the demerger.

At the same time Jaap Postma, Senior Executive Vice President, responsible
for Nuuday has resigned from the executive committee in TDC A/S but will
continue as president and member of the executive committee of Nuuday
A/S, Michael Moyell Juul, Senior Executive Vice President, responsible for
TDC Business has resigned from the executive committee in TDC A/S but
will continue as member of the executive committee of Nuuday A/S, and
Andreas Pfisterer, Senior Executive Vice President, responsible for NetCo has
resigned from the executive committee in TDC A/S but will continue as
president and member of the executive committee of TDC Netco A/S.
For inquiries regarding the above please contact TDC Group Investor
Relations, on +45 6663 7680 or investorrelations@tdc.dk.

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