Telenor ASA — Earnings Release 2016

Oct 20, 2016

dtac Q3 2016 results

dtac Q3 2016 results

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

reported its third quarter 2016 figures to the Stock

Exchange of Thailand. Telenor's consolidated figures in NOK

million are as follows:

Q316 Q315

Revenues 4,671 4,600

EBITDA before other items 1,727 1,656

EBITDA 1,717 1,649

Operating profit 341 584

CAPEX 1,280 1,789

During the quarter the number of subscriptions decreased by

132,000 to 24.820 million.

Outlook 2016

- Service revenues (excluding interconnect): Slight decline

from previous year (maintained)

- EBITDA at least same level as previous year (earlier

31%-33% EBITDA margin)

- Capex at same level as previous year (maintained)