Telenor ASA — Earnings Release 2016

Jul 12, 2016

dtac Q2 2016 results

dtac Q2 2016 results

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

reported its second quarter 2016 figures to the Stock

Exchange of Thailand. Telenor's consolidated figures in NOK

million are as follows:

Q216 Q215

Revenues 4,629 5,112

EBITDA before other items 1,541 1,566

EBITDA 1,431 1,544

Operating profit 174 550

CAPEX 1,003 731

During the quarter the number of subscriptions decreased by

524,000 to 24.953 million.

Outlook 2016

- Service revenues (excluding interconnect): Slight decline

from previous year (previously flat/slightly higher than

2015)

- EBITDA margin of 31%-33% (previously 27%-31%)

- Capex around 2015 level (Maintained)