Telenor ASA — Earnings Release 2014

Feb 9, 2015

Grameenphone Q4 2014 results

Grameenphone Q4 2014 results

Telenor Group's subsidiary in Bangladesh, Grameenphone,

has on 8 February 2015 announced its financial statements

for 2014. Telenor's consolidated figures in NOK million

are as follows:

Q414 Q413

Revenues 2,306 1,895

EBITDA before other items 1,161 970

EBITDA 1,155 933

EBIT 716 608

CAPEX 500 487

During the quarter the number of subscriptions increased

by 1.213 million to 51.504 million.