Telenor ASA — Earnings Release 2015

Feb 3, 2016

dtac Q4 2015 results

dtac Q4 2015 results

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

reported its fourth quarter 2015 figures to the Stock

Exchange of Thailand. Telenor's consolidated figures in NOK

million are as follows:

Q415 Q414

Revenues 5,533 5,265

EBITDA before other items 1,598 1,476

EBITDA 1,582 1,489

Operating profit 419 598

CAPEX 933 904

During the quarter the number of subscriptions increased by

0.40 million to 25.252 million.

Outlook 2016

- Service revenue excluding interconnect: In the range of

flat to slight increase from 2015

- EBITDA margin: In the range of 27-31%

- CAPEX: Same level as 2015