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Telenor ASA Director's Dealing 2016

Jul 25, 2016

Director's Dealing

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Trade by primary insider

Patrik Hofbauer, Executive Vice President of Telenor Group and

Chief Executive Officer of Telenor Sweden, has on 22 July 2016

acquired 3,000 Telenor shares at NOK 149.63 per share. After

the transaction, Hofbauer (incl. related parties) holds 22,070

shares in Telenor.

Members of Telenor's Group Executive Management should at a

minimum have, and keep, shareholdings in Telenor ASA

corresponding to the value of one annual base salary. The share

purchase was made to meet this requirement.