TELENOR · mobile subscriptions, Q3 2015 33 000 employees Present in markets with 1.3 billion people Mobile operations in 13 markets in Norway, Europe and Asia A voting stake of 43

T E L E N O R

Company presentation

20%

21% 51%

5% 3%

Norway

Europe excl

Norway

Asia

Broadcast

Other

A M O N G T H E M A J O R M O B I L E

O P E R ATO R S I N T H E W O R L D

More than 196 million consolidated

mobile subscriptions, Q3 2015

33 000 employees

Present in markets with 1.3 billion

people

Mobile operations in 13 markets in

Norway, Europe and Asia

A voting stake of 43 per cent

(economic stake 33 per cent) in

VimpelCom Ltd. with 222 mill. mobile

subscriptions in 14 markets

Revenues 2014: NOK 107 bn

Mobile subscriptions

3.2

2.5

2

3.8

3.2

3.6

40.9

33.2

24.9

11.7

11.8

Norway

Sweden

Denmark

Bulgaria

Hungary

Montenegro & Serbia

Bangladesh

India

Pakistan

Thailand

Malaysia

Myanmar

55.5

Revenue

1 9 6 M I L L I O N C U S TO M E R S I N 1 3 M A R K E T S #1 OR #2 POSITIONS IN MOST MARKETS

Pakistan Entry: 2004

Subs: 33.2 mn

India Entry: 2009

Subs: 40.9 mn

Bangladesh Entry: 1996

Subs: 55.5 mn

Myanmar Entry: 2013/14

Subs: 11.8 mn

Thailand Entry: 2000

Subs: 24.9 mn

Malaysia Entry: 1999

Subs: 11.7 mn

Norway Subs: 3.2 mn

Sweden Entry: 2001

Subs: 2.5 mn

Hungary Entry: 1994

Subs: 3.2 mn

Denmark Subs: 2.0 mn

Montenegro/Serbia Entry:1996/2006

Subs: 3.6 mn Bulgaria

Entry: 2013

Subs: 3.8 mn

A voting stake of 43 per cent (economic stake

33 per cent) in VimpelCom Ltd. with 218 mill.

mobile subscriptions in 14 markets

S U B S C R I P T I O N G R O W T H – C O N S O L I D AT E D

C O M PA N I E S

No. of mobile subscriptions world wide, in millions

0.6 11.2

52

70 80

91

120

147

166

186 196

0

50

100

150

200

250

1995 2000 2007 2008 2009 2010 2011 2012 2013 2014 2015

G E O G R A P H IC SPLIT OF KEY FINANCIALS IN 2014

25%

21% 47%

8%

Revenues

Norway Europe Asia Other

30%

19%

48%

3%

EBITDA

Norway Europe Asia Other

34%

21%

44%

Operating cash flow

Norway Europe Asia Other

Continued operations. EBITDA before other items

”Other” includes Broadcast, Other Units/Group functions and eliminations

S T R O N G R E V E N U E G R O W T H

14.2

36.2

55

75

86 88 90 94

99 102 104

107

0

20

40

60

80

100

120

1995 2000 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

NOK in billion

N O RWAY - A L E A D I N G P O S I T I O N I N M O B I L E ,

I N T E R N E T A N D T V S E RV I C E S

Country Population

(mill.)

Company Ownership Subscriptions

(thousands)

Market

position

Mobile 5.0 Telenor 100% 3.190 1

Fixed telephony 5.0 Telenor 100% 638 1

Fixed Internet 5.0 Telenor 100% 853 1

TV 5.0 Telenor 100% 526 1

More than

mobile subscriptions

E U R O P E * - A L O N G - T E R M P R E S E N C E

Mobile operations

Country Population

(mill.)

Company Ownership Subscriptions

(thousands)

Market

position

Sweden 9.3 Telenor 100% 2.504 3

Denmark 5.5 Telenor 100% 2.000 2

Hungary 10 Telenor 100% 3.201 2

Montenegro & Serbia 8.1 Telenor 100% 3.593 1

Bulgaria 7.1 Telenor 100% 3.762 2

Close to

mobile subscriptions

* without Norway

A S I A - A S T R O N G R E G I O N A L P L AY E R

Mobile operations

Country Population

(mill.)

Company Ownership Subscriptions

(thousands)

Market

position

Thailand 63 dtac 51.5% 24.851 2

Malaysia 28 DiGi 49% 11.676 3

Bangladesh 162 Grameenphone 55.8% 55.511 1

Pakistan 168 Telenor

Pakistan 100% 33.244 2

India 1 200 Uninor 100% 40.855 8

Myanmar 51 Telenor

Myanmar 100% 11.793 1

More than

mobile subscriptions

T E L E N O R G R O U P W I L L R E M A I N A G R O W T H

C O M PA N Y A N D A R E TA I L O P E R ATO R

• Telenor Group will continue to focus on growth

and value creation.

• Telenor Group will maintain being a retail

operator, with the main share of revenues coming

from communication and connectivity services.

• We will provide new selected digital services to

defend this position.

S T R AT E G I C A M B I T I O N S F O R O U R C O R E T E L C O

B U S I N E S S 2 0 1 5 - 2 0 1 7 S

TR

AT

EG

Y

EN

AB

LE

RS

PASSIONATE EMPLOYEES

LOCAL IMPACT

INTERNET FOR ALL LOVED BY CUSTOMERS EFFICIENT OPERATIONS

I N T E R N E T F O R A L L

There is great opportunity in providing people with affordable internet connectivity

Stimulate

usage

Monetize

Enable use

2

3

1

In addition we will build positions in new service areas with attractive

stand-alone revenues, like Financial Services, M2M, etc.

G R O U P E X E C U T I V E M A N A G E M E N T ( G E M )

President & CEO

(P&CEO)

Sigve Brekke

Finance*

Chief

Financial

Officer

(CFO)

Richard

Olav Aa

People

Chief

People

Officer

(CPO)

Jon Erik

Haug

Markets

Chief

Marketing

Officer

(CMO)

Vivek

Sood

Asia

Technology

Chief

Technology

Officer

(CTO)

Ruza

Sabanovic

Digital

Businesses

Chief

Digital

Officer

(CDO)

Jon

Gravråk

Asia

Corporate

Affairs

Chief

Corporate

Affairs

Officer

(CCAO)

Wenche

Agerup

Partner

Relations

Asia

Head of

Partner

Relations

Asia

Pål Wien

Espen

Asia

Business

Units X 12

T E L E N O R

G L O B A L W H O L E S A L E - W H O W E A R E

Headquartered in

Oslo, Norway

Global Presence

sales offices in 9

countries

Diverse culture

over 30 nationalities

Points of Presence

(PoP) in Oslo, London,

Frankfurt, Budapest,

Amsterdam, Hong

Kong and Singapore

Financial Strength –

AAA rating

Wholesale provider

of international voice,

roaming, roaming

connect solutions and

connectivity services.

Gateway to and from

Telenor Group

operations worldwide

I N T E R N AT I O N A L C A R R I E R O F T E L E N O R G R O U P

A unified business unit for international interconnect and roaming

We give you access to the world by connecting everyone and everything

everywhere.

We help operators offer their retail customers quality international

communication.

We learn and share best practices across business units and drive change

to create value.

Be an attractive

business partner Enable BUs to be loved

by customers

Montenegro/Se

rbia

Aleksandra

Pekovic

MANAGEMENT TEAM

BU Relations

Rada Drobnjak

Sales and Account

Management

Bjørn Iversen

Roaming

Charlotte

Nystuen

IPX and

Interconnects

Kjetil Hanshus

Technology

Knut Ingvar

Eriksen

Operations

Per Lorentsen

Finance

Strategy

and Business

Development

Olav Sande

Global Wholesale

Harald Krohg

TLC,

Pakistan

Salman Malik

Torhild

Einstabland

HR

Eirik Nielsen

I P X G A T E W A Y F O R T H E T E L E N O R G R O U P C O M P A N I E S

Enables you to reach 196 million subscribers via our IPX

Through our services we bring value to the

mobile operators enabling them to offer high

quality future proof services in the international

market - making it easier for people to

communicate with friends and family anywhere,

anytime.

Telenor Group brings real change to

hundreds of millions of people and

societies through the markets we operate

in.

C U T T I N G E D G E T E C H N O L O G Y I N G R E E N F I E L D M A R K E T S

- connecting millions of people to the digital world

connecting Telenor Myanmar to the rest of the world making it possible for people throughout the country

to enjoy international quality voice and SMS services.

Challenging

market

In close collaboration with our suppliers we

have developed new technical solution to cater

for geographical challenges.

55

Collaboration

Myanmar - «Digital IPX-

Frontrunner». Through “All IP” and

increased connectivity people

throughout the country are now

able to reach family members living

and working in the neighbouring

countries.

Lack of infrastructure

and technical solutions.

Low voice quality and

high rates.

Estimated population

of app. 55 mill. people

in Myanmar

50 % mobile penetration 50

Innovation

Telenor has shown innovation on technical solutions in markets

where such solutions has not been an obtainable option

T E L E N O R

I P X N E T W O R K

G L O B A L V O I C E

Guaranteed high quality termination to our worldwide voice connections

Focus on high quality termination through the

use of our direct routes and carefully selected

quality focused partners

Quality and Service Management teams ready

to offer you their expert support

Pressure on the bottom line means competitive

rates - we provide competitive pricing while

keeping quality in focus

G L O B A L V O LT E I N T E RW O R K I N G & R O A M I N G

Maximizing the customer experience for international calls

Allows for VoLTE calling internationally.

Enables roamers to access their services

while they are travelling

Faster call set up time

Better call Quality HD Voice

Simultaneous Voice and Data sessions

Enables delivery of Rich Communication

Services e.g. video calling, file transferring,

real time language translation, video

voicemail and instant messaging

Improved battery life

Multi-party conferencing

G L O B A L H D V O I C E

Enabling high definition voice internationally

Feels like you are in the same room

More effective conference calls

Noise reducing capabilities

Increased billable minutes by extended and

higher quality voice calls

Improved quality of conference calls

Use of wideband technology provides deeper

clarity and better audio

Add depth and nuance to the transmitted

sound while reducing bandwidth requirements

G L O B A L V O I P X

Ready for the next generation of high quality voice services while continuing to support traditional needs

Flexibility to meet customer needs - supports

both HD voice and traditional voice

Class of Service (CoS) – real time traffic

prioritization and IP Packet Marking to ensure

optimal transport functions

Multi-VPN - access to several separate VPNs

via the same access line.

24/7 monitoring of the service from the

Network Operation Centre (NOC)

G L O B A L LT E R O A M I N G E X C H A N G E

LTE roaming coverage to your mobile end user through our Diameter Signalling Services.

Enables LTE roaming for voice, video, data

and messaging

Access to a high quality Diameter signalling

network

Quality interconnect via IPX

SLA’s and security based on GSMA

recommended parameters

Gateway to Telenor MNOs

Reporting and performance management

Access to a wide range of on-net and off-net

LTE networks

G L O B A L G R X

Secure access to home network data services for your mobile end users while roaming abroad

Enables global data roaming coverage over 2G, 3G

and 4G technologies

Fully compliant and dedicated IPX Transport network

isolated from the public internet

Secure and cost efficient IP access immediately

connects you to your roaming partners

Telenor GRX supports GTP v1 and GTP v2 (S8).

VoLTE ready network

Online IP monitoring tool

Experienced GRX provider, since 2000

24/7 NOC with proactive monitoring

G L O B A L G S M R O A M I N G S I G N A L L I N G

Offer worldwide roaming coverage to your mobile end user through our extensive signalling network

State of the art SMS filtering

Enable roaming voice, messaging and data

Access to a secure and high quality SS7

international signalling network

Direct destinations

Extensive experience and highly skilled

professionals

Worldwide coverage through one connection

Global Roaming Quality reports - easy to

access via Web GUI

G L O B A L S M S

Increase your global reach through the SMS hub

Single point of connection with quick access to more

than 900 destinations

Less commercial and technical resources required

Two-way destinations

Enabling interworking between operators using

different technologies (GSM/CDMA)

Mobile Number Portability support

24/7 monitoring of the service

Advanced election tool

Opportunities to increase SMS revenue

GSMA Open Connectivity certified SMS Hub Provider

G L O B A L E N T E R P R I S E M E S S A G I N G

Making it easy to reach Telenor Group

One interconnect with Telenor

Direct connection to Telenor Operators, secure delivery

and accurate delivery reports

The one and only gateway to all Telenor BU’s, e.g

Telenor Myanmar

Best price for white termination to the Telenor Group

Secure way for delivery

S M S P R O T E C T

Enables customers to allow SMS traffic from only

the sending operators which have signed AA19

agreements to reach their network.

A globally partnered Telenor SMS Hub as an

alternative to AA19 agreement.

Detection of Spam, Spoof, Flooding, Faking.

Management of black/white listing on GT,

MSISDN, OA & DA.

Blocking of traffic for all grey routes securing

revenue.

Efficient control of both A2P and P2P traffic from

carriers, operators, aggregators, hubs, etc.

Service features

Platform capabilities

O U R V I S I O N : E M P O W E R S O C I E T I E S

We provide the power of

digital communication, enabling

everyone to improve their lives,

build societies and secure

a better future for all.

W E ’ R E H E R E TO H E L P

O U R C U S TO M E R S

We provide the power of

digital communication, enabling

everyone to improve their lives,

build societies and secure

a better future for all.

B E R E S P E C T F U L

K E E P P R O M I S E S

M A K E I T E A S Y

B E I N S P I R I N G

I P C O R E N E T W O R K

AMSTERDAM 1

Telecity

Science Park 120

1098 XG

Amsterdam

AMSTERDAM 2

Vancis

Science Park 121

1098 XG

Amsterdam

BUDAPEST

T-Systems/Dataplex

13 Asztalos Sándor street

room 1F, Budapest

Hungary

FRANKFURT

Equinix Telehouse

Kleyerstrasse 90

60326 Frankfurt am Main

Germany

HONG KONG

HKcolo Ltd

Sino Favour Centre

1 on Yip Street

Chai Wan, Hong Kong

LONDON

Telecity

6&7 Harbour Exchange

Lime Harbour

London E14 9GE

United Kingdom

OSLO 1

Kirkegata 9

0581 Oslo

Norway

OSLO 2

Østre Aker vei 18B

Økern

0581 Oslo

Norway

SINGAPORE

Equinix

Singapore Pte.

20 Ayer Rajah Crescent,

139964 Singapore