It comes without Edge or Cortana, without the Photos app, without Windows Media Player, Camera, Music, TV & Movies, Skype and so on.
No store or apps at all.
The classic calculator is there. After changing the Group Policy Windows Update setting of Automatic Updates, you can freely scan for updates but it will not automatically download and install them. This option is ignored on the normal, non-LTSB Enterprise version which still automatically downloads and installs them.