Telenor ASA — Capital/Financing Update 2014

Aug 6, 2014

Telenor ASA - Capital market transaction

Telenor ASA - Capital market transaction

Telenor ASA has on 06 August 2014 executed the

following debt capital market transaction under the

company's EMTN program:

USD 100,000,000 Floating Rate Note

final maturity 14 August 2019

The issue will settle 14 August 2014.

The proceeds will be used for general corporate

purposes.

For further information:

Frode Borhaug, Director, Head of Funding, telephone

+47 67 89 25 18 / +47 916 38 645

Fornebu, 06 August 2014

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This announcement does not constitute an offer to

sell or the solicitation of an offer to buy any

securities of Telenor ASA nor shall there be any sale

of these securities in any jurisdiction in which such

offer, solicitation or sale would be unlawful prior

to registration or qualification under the securities

laws of such jurisdiction.

This information is subject of the disclosure

requirements acc. to §5-8 vphl (Norwegian Securities

Trading Act)