This is Telenor

Where we operate

Scandinavia

Fixed and mobile premium positions in

Norway and Sweden; mobile in

Denmark.

7.2m customers

Emerging Asia

Strong mobile positions. No 1 or 2 in all

markets. Digital services within mobile

financial services, online classified and

health

137m customers

Developed Asia

Rich, digital mobile-only positons, targeting

the digital generation segment

32m customers

74,1

44,3

18,4

20,7

11,3

2,9

2,7

1,7

Bangladesh

Pakistan

Myanmar

Thailand

Malaysia

Norway

Sweden

Denmark

176 million mobile subscribers

20 000 employees

4%

18%

78%

Scandinavia

Developed Asia

Emerging Asia

Telenor Group in numbers, per Q1 2019

Mobile subscriptions per country

Geographic revenue distribution

Total revenues 2018: NOK 110 billion

Geographic EBITDA distribution

Total EBITDA 2018: NOK 45 billion

36%

28%

31%

5%

Telenor Group in numbers, per Q1 2019

38%

31%

24%

7%

Our key believes and strategic ambitions

Personalisation Internet

access

Efficient

operations

Personalisation

Digital

positions in

selected

markets

Our key believes and strategic ambitions

Recent announcements • Consolidating the Nordic portfolio through acquisition

of majority stake in DNA in Finland In April 2019, Telenor Group entered into agreements to acquire 54% of the

shares in the Finnish telecom operator DNA Plc for EUR 20.90 per share in

cash, in total EUR 1.5 billion (approx. NOK 14.4 billion). With the transaction,

Telenor gets a strong position across fixed and mobile in an attractive and

growing telecom market, and further strengthens its position in the Nordic

region.

• Telenor and Axiata enter discussions to merge Asian

operations In May 2019, Telenor Group and Axiata Group Berhad announced that they are

in discussions regarding a potential non-cash combination of their telecom and

infrastructure assets in Asia (MergeCo), in which Telenor would take a majority

stake. It is anticipated that Telenor, based on equity value, will own 56.5% in

MergeCo and Axiata will own 43.5%, both parties acknowledging that this is

preliminary subject to adjustments and due diligence.

Global Wholesale - Strategy

Market

positioning

Create

Engagement

Build

Trust

Continuous

Simplification

9

Telenor Group Executive Management (GEM)

President & CEO

Sigve Brekke

People

Cecilie

Heuch

Marketing

Lars

Thomsen

(acting)

Technologies

and

Services

Ruza

Sabanovic

Corporate

Affairs

Anne

Kvam

Emerging

Asia

Irfan

Khan

Developed

Asia

Albern

Murty

Scandinavia

Morten K.

Sørby

Finance

Jørgen

Rostrup

Group Holdings

Wenche Agerup

- Global Wholesale - Telenor Broadcast - Telenor Maritime - Telenor Real Estate

- Tapad

- FJLabs

- 701Search

Global Wholesale Management

CEO

Harald Krohg

Finance

Torhild Einstabland

Strategy

Olav Sande

Technology

Per Lorentsen

Markets

Rickard Widerberg

Sales

Tone Snellingen

People

Annica Været Partnership

Andre Nicholas Hansen

About Global Wholesale

Voice Roaming

Connectivity Messaging

• The international communication provider of Telenor Group

• 170 employees, 36 nationalities

• 600+ customers & partners

• 20+ years experience

0

50

100

150

200

250

300

350

400

Revenue in mil USD

Our Offices Office Hubs

Oslo (EU)

Dubai (MEA)

Singapore (APAC)

Miami (US)

Other Locations

o Stockholm, Karlskrona

o Islamabad

o London

o Ålborg

o Belgrade

Connecting you to what matters most.

Empowering societies.