Telenor ASA — M&A Activity 2018

Mar 21, 2018

Supplementary information

TELENOR AGREES TO SELL ITS CENTRAL AND EASTERN EUROPEAN ASSETS TO PPF GROUP FOR EUR 2.8 BN – BOARD TO PROPOSE SPECIAL DIVIDEND OF NOK 4.40 PER SHARE

Transaction details

Parties to the agreement:	Subsidiaries of Telenor ASA and PPF Group NV as the seller and buyer respectively. Target companies are Telenor Hungary,
	Telenor Bulgaria, Telenor Serbia & Montenegro, Telenor
	Common Operations and Telenor Real Estate Hungary (together "TCEE")
Transaction:	Sale of 100 % of shares in TCEE subject to regulatory approvals.
Est. time of completion:	Within Q3 2018
Consideration:	Enterprise value of EUR 2.8bn, EUR 400m deferred consideration (interest bearing and repayment in four
	instalments over four years). No financing condition by buyer
Agreements:	Retention agreements for key employees in TCEE

Key financial figures for TCEE

NOK m	2016	2017	NOK m	2016	2017
Revenues	11,455	11,767	Total assets	23,632	25,172
Operating Income	2,298	2,485	Total liabilities	3,531	4,465
Net income	2,118	2,117
			Equity	20,101	20,707

Executive management

Name	Position	Unit
Brad Byblow	CHRO	Telenor Bulgaria
Galina Chuleva	CSTO	Telenor Bulgaria
Goran Markovic	CMO	Telenor Bulgaria
Irina Vasilevska	CCAO	Telenor Bulgaria
Nikola Petreski	CFO	Telenor Bulgaria
Ole Bjørn Sjulstad	CEO Bulgaria	Telenor Bulgaria
Vladimir Radojicic	CTO Bulgaria & Cluster CTO CEE	Telenor Bulgaria
Aleksandra Banovic	Chief Customer Officer	Telenor Hungary
Alexandra Reich	CEO	Telenor Hungary
Christian Wulff Søndergaard	CCAO	Telenor Hungary
Gyorgy Koller	CTO	Telenor Hungary

Hasulyó Zoltán (acting)	Acting CFO	Telenor Hungary
Petra Stangl	CMO	Telenor Hungary
Branko Mitrovic	CCAO	Telenor Serbia/MNE
Ingeborg Ofsthus	CEO Serbia & MNE	Telenor Serbia/MNE
Kai Gulbrandsen	CTO	Telenor Serbia/MNE
Nemanja Zilovic	CSTO	Telenor Serbia/MNE
Nevena Stefanovic	CHRO	Telenor Serbia/MNE
Sandra Stajner	General Manager, Montenegro	Telenor Serbia/MNE
Sasa Filipovic	CMO	Telenor Serbia/MNE
Vanja Stanković (acting)	acting CFO	Telenor Serbia/MNE
Ole Martin Gunhildsbu	CEO	Telenor Common Operation
Csaba Juhász	Business Development Manager	Telenor Common Operation
Dijana Dendić	Corporate Affairs Manager	Telenor Common Operation
Vladimir Skulić	Finance and Sourcing Manager	Telenor Common Operation
Ivan Runtić	Implementation Director	Telenor Common Operation
Đorđije Mitrevski	Information Security Manager	Telenor Common Operation
Ivan Lorencini	Operations Director	Telenor Common Operation
Veronika Jung	HR, Comms and Admin Manager	Telenor Common Operation
Süveges László	Service Management Center Manager	Telenor Common Operation
György Gaszmann	Technology Planning Director	Telenor Common Operation
Aleksandar Sulejmanović	Transformation and PM Office Manager	Telenor Common Operation
Lyubomir Aleksandrov	Senior Customer Manager	Telenor Common Operation