Jon Fredrik Baksaas, Konsernsjef Telenor

Eierskapskonferansen20. april 2010

Styret og eiers rolle i et globalisert næringsliv - Hvordan lykkes i Asia

BangladeshGreenfield

Malaysia Existing operator

Thailand Existing operator

Pakistan Greenfield

Malaysia Research & Innovation

Centre

1996 1999 2000 2004 2006 2009

IndiaGreenfield

• 75 million mobile subscribers

• 1.6 bn geographic footprint

• 20 000 employees

• 32% of revenues in 2009

14 years in Asia

Revenues 2009 excluding Kyivstar and Vimpelcom

Source: IMF* Euro area composed of 16 countries** Central and Eastern Europe composed of 15 countries*** Developing Asia composed of 26 countries

Asia is the growth region

Constant price GDP, rebased 2005 = 100

Euro area

Central and Eastern Europe

Developing Asia

100

110

120

130

140

150

160

170

180

190

200

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

Forecast

A shift in balance

GDP 2006USD trillion

Vietnam 0.1

Bangladesh 0.1

Egypt 0.1

Phillipines 0.1

Nigeria 0.1

Pakistan 0.1

Iran 0.2

Indonesia 0.4

Turkey 0.4

Mexico 0.9

Korea 0.9

India 0.9

Russia 1.0

Brazil 1.1

Canada 1.3

Italy 1.8

France 2.2

UK 2.3

China 2.7

Germany 2.9

Japan 4.3

USA 13.2

GDP 2025USD trillion

GDP 2050USD trillion

Bangladesh 0.2

Egypt 0.3

Pakistan 0.4

Phillipines 0.4

Nigeria 0.4

Vietnam 0.5

Iran 0.7

Turkey 1.0

Indonesia 1.0

Canada 1.9

Korea 1.9

Mexico 2.3

Italy 2.3

Brazil 2.8

France 3.1

UK 3.3

Russia 3.3

Germany 3.6

India 4.3

Japan 5.6

China 18.4

USA 20.1

4.6

Nigeria 4.6

Germany 5.0

UK 5.1

Japan 6.7

Indonesia 7.0

Russia 8.6

Mexico 9.3

Brazil 11.4

India 37.7

USA 38.5

China 70.7

Bangladesh 1.5

Pakistan 2.1

Egypt 2.6

Iran 2.7

Italy 3.0

Phillipines 3.0

Canada 3.1

Vietnam 3.6

Turkey 3.9

Korea 4.1

France#11

#4#3

G7

BRIC

Source: Goldman Sachs

Understand your business

Key to our growth in Asia

Advancedhome market

Emerging markets

Operational excellence

Leadership and people

Long term engagement

Impact on economic and social growth

Shaping policyframework

Integrated Corporate

Responsibility

Good corporate governance

Dynamic industry

Source: Factset, Telenor, Wireless IntelligenceNote: Subscription figures in millions Q309. Operator only included if ownership is 20% or more. If more than

one Group has 20%+ share both are allocated these subscriptions

SubscribersMillion, Q309

Market capitalizationUSD billions, April 16, 2010

101

108

111

130

134

143

144

173

181

206

275

436

517

13. MTS

12. MTN

11. Orascom

10. T-mobile

9. TeliaSonera

8. China Unicom

7. Orange (FT)

6. Telenor

5. America Movil

4. Telefonica

3. SingTel

2. Vodafone

1 . China Mobile

China Unicom 16Maroc Telecom 17

Vimpelcom 17Chunghwa Telecom 17

Telekomunikasi Indonesia 18Carso Global Telecom 18

China United 19Swisscom 19

BT Group 16

BCE 23MTS 23

KDDI 23Telenor 24

Koninklijke KPN 25Bharti Airtel 26

Telecom Italia 27MTN 28

TeliaSonera 31Telstra 36

Singapore Telecommunications 36Deutsche Telekom 59

France Telecom 61Nippon Telegr. & Telephone 67

NTT DoCoMo 71America Movil 83

Verizon 84Telefonica 109Vodafone 123

AT&T 153China Mobile 204

#6

#18

The Norwegian state as owner

Thank you