Telenor ASA — Share Issue/Capital Change 2014

Jul 16, 2014

Reduction of share capital

Reduction of share capital

In accordance with the resolution of the Annual

General Meeting 14 May 2014, Telenor ASA has on 14

July 2014 reduced the share capital with a total of

NOK 90,997,446. This is done by cancelling 6,981,748

own shares and by redeeming 8,184,493 shares held by

the Kingdom of Norway through the Ministry of Trade,

Industry and Fisheries.

The share capital subsequent to the capital reduction

is NOK 9,008,748,180 divided into 1,501,458,030

shares, each with a par value of NOK 6.00.

Telenor no longer holds treasury shares following

these transactions.

Updated certificate of registration is enclosed.