Telenor ASA - Board/Management Information 2016

Statement from the Board of Directors meeting in Telenor ASA

The Board of Directors of Telenor ASA has had several

complex issues for discussion during the past months related

to themes like strategy, governance and compliance. There

have been differing viewpoints in the Board on some topics.

The Board has unanimously concluded on the following points:

The Board and management has agreed upon the company's

strategic direction towards 2020. Going forward, the board

will focus fully on the continued development of Telenor as

a value creating, innovative and responsible company.

During the meeting, the Board has confirmed its trust in CEO

Sigve Brekke. It is the Board's opinion that Mr. Brekke is

the right person to lead the implementation of the new

strategy. Recently, media has referred to issues from Sigve

Brekke's period as Head of Asia. The cases have previously

been handled and concluded upon by the Board.

During the past year, Telenor has had a specific focus on

improving governance and follow-up and review in our

different markets. Telenor operates in many challenging

markets and will also in the future have to handle

compliance and business ethics risks. The Board and

management will therefore further strengthen the mitigation

work and the development of good systems to detect and solve

issues that arise.

Telenor will hold a press meeting Wednesday 14 December, at

11:00 CET at Telenor's headquarters at Fornebu. Chair of the

Board of Directors, Ms Gunn Wærsted, and CEO Sigve Brekke,

will be available.

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