Telenor ASA — Earnings Release 2014

Feb 10, 2015

dtac Q4 2014 results

dtac Q4 2014 results

Telenor Group's subsidiary in Thailand, dtac, has today

reported its results for the fourth quarter 2014.

Telenor's consolidated figures in NOK million are as

follows:

Q414 Q413

Revenues 5,265 4,732

EBITDA before other items 1,476 1,521

EBITDA 1,489 1,520

Operating profit 598 891

CAPEX 904 1.208

During the quarter the number of subscriptions increased

by 228,000 to 28.008 million.

Outlook 2015

In 2015, dtac expects low single digit service revenue

growth excluding interconnect (in local currency), an

EBITDA margin in-line with 2014 and capex of minimum THB

14 billion.