Telenor ASA — Earnings Release 2014

Oct 22, 2014

DTAC Q3 2014 results

DTAC Q3 2014 results

Telenor Group's subsidiary in Thailand, dtac, has

today reported its results for the third quarter

2014. Telenor's consolidated figures in NOK million

are as follows:

Q314 Q313

Revenues 4,081 4,069

EBITDA before other items 1,523 1,362

EBITDA 1,524 1,361

Operating profit 781 785

CAPEX 405 781

During the quarter the number of subscriptions

decreased by 259,000 to 27.780 million.

Outlook 2014

In 2014, dtac expects service revenues excluding

interconnect slightly below 2013 level (revised

from "flat service revenues excl interconnect"),

EBITDA margin of 35%-37% (unchanged) and capex of

minimum THB 13 billion (unchanged).