, INC Telenor KDDI R&A 2009 4 Telenor KDDI 10 29 Telenor 4% 272,000 NOK 4,054 6% 810 9,000 NOK 1 1,900 Telenor DISI Dow Jones Sustainability Indexes 17 1 7 Telenor 9 11 1 5,900 10 29 Telenor Unitech Wireless 60% 10 7000Unitech Wireless2009 222009 1 3G 11 12 NTTTata Teleservices 26% Telenor 5 Telenor Telenor Telenor Telenor PAGE 1 of 20
Telenor 38. 4781NOK 2006 2.9% 200 2.6% 1995 EU EU 1994 11 EU 1994 Norwegian Telecom NT 1995 The Norwegian Post and Telecommunications Authority Post-og Teletilsynet, PTNT 1994 11 Telenor ASA PT Telia Telenor 1999 2000 12 TelenorOslo NASDAQ Telenor 15NOK 2,290 Telenor 77.7% 2001 7 Telenor Telenor Mobil Telenor Networks Telenor Plus Telenor Business Solution 4 Telenor 53.97% PT Ministry of Transport and Communications EU EU EFTA European Free Trade Association 1995 2003 7Electronic Communications Act EU 2003 2004EU 2004 2 PTSMP Significant Market Power 5Telenor SMP Norwegian Telecom 1990 NTA National Telecom Agencyincumbent NTTeleverket 1NOK = 14.68 1US$ = 99.10 /11/4 TTM PAGE 2 of 20
Telenor 117.9%BMI Business Monitor International 43.1% 32.7%Telenor 1 1 1 Telenor ASA Government:53.97% TV Telenor Mobil Telenor ASA:100% GSM/GPRS/EDGE 3G/UMTS NetCom TeliaSonera:100% GSM/GPRS/EDGE 3G/UMTS Tele2 Norge Tele2 AB:100% MVNO get Candover Partners Cable TV TDC Nordic TDC:100% NextGen Tel TeliaSonera:100% ADSL Telio Holding Publicly-listed VoIP MVNO Ventelo Ventelo:100% MVNO BMI PSTN ISDN CATV 199 BMI Business Monitor International 3% 199.5 43.1% Telenor 69.4% 2012181.1 39.1% Telenor Telenor Telenor Telenor Telenor PSTN/ISDN/VoIP 6.5% 138.52 PSTN 89.4 ISDN 3 VoIP 13.1 2 VoIP VoIP42. 53% PAGE 3 of 20
Telenor 2 2002 7 2002 2003 2004 2005 200 PSTN/ISDN 172.4 170. 166.1 155.3 134.7 117.2 PSTN/ISDN 57.4 53.8 50.1 47. 44.2 42.0 VoIP 1.9 9. 27.7 42.1 VoIP 0.1 0.1 0.1 0.5 CATV 2.0 2.3 2.3 2.2 1. 1.2 0.1 0.1 0.1 231.8 226.8 220.5 214.9 208.4 203.0 BMI 20% 53 8000 6Telenor 61.7% Tele2 Norge 11.3% Telio 7.2% Ventelo 7.0% TDC Nordic 4.2% get 1.3% Tele2 NorgeTele2 Tele2 Sweden 100% 1995 1998 1 1502 prefixdial-up ADSL Tele2 MVNO Telio Holding 2003 IP 2004 2 VoIP2005 VoIP 10.3 TDC Nordic incumbent TDC AS Tele-Denmark CommunicationsTDC Solution 100% TDC Solution 19,000km TDC Nordic wholesale PSTN/ISDN IP/Ethernet getupc Norway and Janco MulticomCATV 200 get get 1CATV20040 8.43.5 PT 21% 136.2 50% 59% PAGE 4 of 20
Telenor ADSL90%PT 93% xdsl xdsl 13.4% 104.1 3 4 3 2002 2003 2004 2005 200 xdsl 8.7 21.42 41.35 67.9 90.1 104.08 CATV 4.2 5.82 8.05 11.5 N/A 20.53 0. 0.55 0.22 0.37 N/A 0.2 0.05 0.22 0.9 1.19 N/A 3.07 1.19 2.61 N/A 8.32 13.62 28.01 51.71 83.57 112.69 136.25 BMI 4 2002 2003 2004 2005 200 Telenor 51.8% 57.7% 55.0% 53.7% 51.1% 50.0% NextGen Tel 16.7% 17.1% 15.3% 14.5% 14.6% 12.8% get 20.1% 11.7% 8.2% 6.6% 6.3% 6.8% Tele2 0.2% 2.4% 5.3% 5.3% 5.9% 6.4% Ventelo 5.8% 4.6% 5.0% 5.9% 5.8% 5.4% Lyse Tele 0.3% 0.4% 0.9% 1.4% 2.1% 2.4% Tafjord Mimer 0.8% 1.4% 1.0% 1.1% 1.4% 1.3% BKK Bredband 2.4% 0.7% 1.0% 1.0% 1.2% 1.2% Eidsiva Bredband 0.1% 0.3% 0.8% 1.2% 1.9% 4.0% 8.2% 10.2% 10.9% 12.5% 100% 100% 100% 100% 100% 100% BMI PT NextGen Tel 2000 3 ADSL xdsltelenor2 PAGE 5 of 20
Telenor 2006TeliaSonera 100% 2004 12 3.4 3.6GHz WiMAX 150 47 2009 2.3GHz NextGen Tel14.6% 12.8% 4Fosen Link TeliaSonera NextGen Tel 76% 8 9100 SEK 112.8 WCIS World Cellular Information Service 2Q 6.8% 543.8 119.4% Telenor MobilTelenor 100% Telenor Mobil 1981 11 Oslo NMT900198 NMT900 2004 GSM9001993 5 1998 GSM1800 2004 12 3G UMTS NetCom 1991 GSM 1993 9 GSM900/1800 2000 TeliaSonera NetCom 50% 2002 TeliaSonera 100%NetCom 2000 11 3G UMTS 2005 3G 2000 11 PT 2 NOK 29.32000 NOK 2.93 590% PT Telenor Mobil NetCom Broadband Mobile Enitel TeliaSonera JV Tele2 4 Broadband Mobile 3G Enitel 2001 Tele2 3G 2002 9 Telenor Mobil MVNO 3G2003 2 PT 2 3G 30% 1SEK = 12.6 /11/4 TTM PAGE 6 of 20
Telenor 2003 9 Hi3G Access Norway Hi3G Access Sweden Hutchison Whampoa 60%100% 3G Hi3G Access 2004 11 2005 2 Ericsson 2002 9 Tele2 Telenor Mobil MVNO5 Telenor GSM 3G UMTS 5 Tele2 NetCom MVNO 4 1 Telenor Mobil NetCom Tele2 10 GSM900 Mobile Norway 50% 3 12 Mobile Norway 3G 2010 2Q 2Q 5 52Q 2Q 2Q 4Q 2Q Telenor Mobil Netcom GSM900/1800 283.2 269. 221.1 55.9% W-CDMA 53.4 71 77 GSM900/1800 129.4 113.2 144.1 37.8% W-CDMA 35.5 48 60.9 Mobile Norway GSM900 25 32 5.8% Nordisk Mobitelefon CDMA450 1.3 2.1 2.7 0.5% 508.8 528.8 543.8 WCIS KDDI Hi3G Access 3G 2Q 3G 55.1% 137.9 BMI 2012 682. 147.4% 2010 3G Mobile Norway ARPU Telenor Mobil 316NOK 4,638 NetCom 331NOK 4,859 Telenor 10 29 Telenor 4% 272,000 NOK 4,054 6% 810 9,000 NOK 1 1,900EBITDA 35% 1,052 210 NOK 1 5,416 PAGE 7 of 20
Telenor 204,200 NOK 3,030 Telenor DJSI Dow Jones Sustainability Indexes 17 17 3.4 Telenor 9 6 11 TelenorVimpelCom 1 5,900 Telenor Telenor Telenor 19941997 1998 19992000 20022004 200 1999/2000 2006 Vodafone Sweden 2007Mobi 63 100%One 17.45% Telenor Telenor DJSI Dow JonesSAM CSR SRI Telenor VimpelCom 9 5,800 33.6% 29.9% VimpelCom Kyivstar Kyivstar 4Q associated company PAGE 8 of 20
Telenor Telenor Sweden 2002 11 Utfors 2005 5 Bredbandsbolaget 2003 Glocalnet2001 81 7000 NOK 119.9 Vodafone Sweden 4.710 9 Telenor Sweden 17% 1.6% 15 9,600 NOK 23.4 1% 1 23% Telenor Sweden7 7 Telenor Sweden NOKmn 1,596 1,622 4,734 4,852 6,464 NOKmn 799 845 2,440 2,706 3,575 Elimination NOKmn 25 52 42 49 NOKmn 2,370 2,473 7,122 7,516 9,990 NOKmn 89 114 205 49 ARPU NOK 233 242 238 251 248 4.7 5.9 183.7 185.3 185.5 Telenor Telenor 2004 2 BellSouth 46.5% Sonofon 100% 2005 7 ADSL Cybercity 7 Tele2 Denmark PAGE 9 of 20
Telenor MVNO Sonofon TDC Mobil 2 9 178.3 27%Sonofon 2.8% 15 3,100 NOK 22 4,750 Telenor Denmark 8 PSTN 8 Telenor Denmark NOKmn 1,531 1,488 4,463 4,384 5,850 NOKmn 378 403 1,167 855 1,278 Elimination NOKmn 37 25 78 3 61 NOKmn 1,872 1,866 5,552 5,203 7,067 NOKmn 116 176 339 493 568 ARPU NOK 230 231 228 242 239 5.5 19.9 178.3 166.7 168.0 Telenor Global Mobile 2Q 5,070 109.81%Telenor kyivstar 56.5%4Q Associated Company Kyivstar 2,345 42% ARPU12% 38 3,900 NOK 53,565 Telenor Denmark 9 PSTN17.9 VoIP9.1 9 7% PAGE 10 of 20
Telenor EBITDA19%EBITDA 62% Telenor Kyivstar Kyivstar9 9 Kyivstar NOKmn 3,839 3,427 10,281 9,399 12,582 NOKmn 1,895 1,503 4,908 4,199 5,564 ARPU NOK 53 49 47 52 46 14.9 100.0 2,345.6 2,305.9 2,360.4 Telenor Global Mobile 2Q 1,02 103.33% Pannon T-Mobile 2 2001 100% 347.5 33% 7.4% 15600 NOK 24 3,100 11.4% 5 3,500 7 8,538 EBITDA 43.4% Pannon10 PAGE 11 of 20
Telenor 10 Pannon NOKmn 1,656 1,541 4,518 4,579 6,142 NOKmn 535 480 1,392 1,303 1,727 ARPU NOK 154 149 139 148 148 6.0 2.2 347.5 322.0 337.7 Telenor Global Mobile 2Q 93 112.99% Telenor Serbia 312.5 39% 7% 8 6,100 NOK 12 6,395 EBITDA 46.6% 11 11 Telenor Serbia NOKmn 861 804 2,332 2,196 2,935 NOKmn 223 114 519 356 431 ARPU NOK 88 83 80 81 80 7.8 11.8 312.5 284.1 292.4 Telenor 62 2003 2Q190.78% Telenor2004 8 ProMonte PAGE 12 of 20
Telenor 100% 53.3 41% 2 3,600 3 4,644 12 12 ProMonte NOKmn 236 254 587 598 763 NOKmn 78 95 114 176 184 ARPU NOK N/A N/A N/A N/A N/A 1.2 5.2 53.3 48.1 42.2 Telenor Global Mobile 2Q 5,725 87.42% Telenor2DTAC Total Access Communications PCL 32.6% DTAC 43.1% UCOM Thai Telco Holding 49%Telenor DTACeconomic stake 65.5% DTAC 1,821 30%DTAC 2009 2Q 850MHz 3G 25,500 NOK 38 9,754 13 13 DTAC NOKmn 2,655 2,981 8,759 8,940 11,925 NOKmn 489 308 2,130 1,021 1,347 ARPU NOK 48 66 52 70 68 78 40.2 1,821.3 1,478.8 1,577.2 Telenor PAGE 13 of 20
Telenor Global Mobile 2Q 2,508 99.32% TelenorDiGi Com Bhd DiGi 200 61.1% 49% 3 200 36.5 1,182 DiGi 3 680.3 6.1% 19 6,300 NOK 28 8,164 2Q NTT KTF 4U Mobile DiGi 14 14 DiGi NOKmn 1,963 1,849 5,773 5,496 7,430 NOKmn 587 609 1,854 1,786 2,453 ARPU NOK 95 99 95 101 101 16.6 9.3 680.3 611.7 640.9 Telenor Global Mobile 2Q 4,366 28.44% Telenor Grameen Bank JV GrameenPhone Telenor 62% 1997 GSM GrameenPhone 1 2,082.9 46% 11 7,500 NOK 17 2,490 ARPU GrameenPhone15 PAGE 14 of 20
Telenor 12 1 BTRC Bangladesh Telecommunication Regulatory Commission 2009 33G 15 Grameenphone NOKmn 1,175 1,170 3,422 3,477 4,622 NOKmn 257 189 586 947 1,239 ARPU NOK 19 26 20 30 28 52.1 116.5 2,082.9 1,514.5 1648.3 Telenor Global Mobile 2Q 8,824 51.9% Telenor Pakistan 100%2005 3 GSM 1,847.2 21% 2.1% 8 6,900 NOK 12 7,569 ARPU 7 Federal Excise Duty Tax Telenor Pakistan 1 1Telenor Pakistan NOKmn 869 887 2,902 2,414 3,414 NOKmn 122 28 183 292 362 ARPU NOK 15 25 18 27 26 34.7 187.8 1,847.2 1,257.9 1,459.6 Telenor PAGE 15 of 20
Telenor Telenor3.4 Telenor Associated Company Kyivstar2.8% 237.88 NOK 3,49251.64% 8.9% 38.39NOK 563 61.07% net income 20.03% 33.67 NOK 494 Telenor 3% EBITDA 31% 17 17 Telenor Group NOKmn 3,249 3,39 8 4.4% 984 1,042 3,620 3,740 3.2% 790 900 2,370 2,473 4.2% 89 1,872 1,866 0.3% 116 176 3,839 3,427 12.0% 1,895 1,503 1,656 1,541 7.5% 535 480 2,655 2,981 10.9% 489 308 1,963 1,849 6.2% 587 609 1,175 1,170 0.4% 257 189 1,966 1,945 1.1% 179 181 2,022 1,763 14.7% 271 292 2,752 1,981 38.9% 280 120 Eliminations 1,519 1,538 87 Operating Segment 27,620 26,511 4.0% 5,734 5,707 Associated Company 3,832 3,416 1,895 1,494 Group 23,788 23,135 2.8% 3,839 4,213 Telenor PAGE 16 of 20
Telenor Telenor 10 29 Telenor Unitech Wireless 60% 10 7000 1,060 Unitech Wireless2009 22 Unitech WirelessTelenorTelecom Italia Zain Kuwait Telenor Telenor CEO Jon Fredrik Baksaas Telenor 800 12 2Q 2 6798 23.81% 74% Bharti AirTel SingTel Vodafone Essar Vodafone Aircel Cellular Maxis Spice Communication TMI Telecom Malaysia International Shyam Telelink VimpelCom 9 Etisalat UAE Swan Telecom 45% Virgin Mobile Tata Teleservices 11 NTT NTT 26% 3G 2009 1 2009 3G 3G Telenor Unitech Wireless Unitech Wireless 22 2009 Unitech Wireless Telenor Unitech Wireless 3G2009 1 161 30 1 30 2009 2 PAGE 17 of 20
Telenor 2009 9 Telenor 11 26 7-9 GDP 7.6%3 9% Telenor Telenor CISTelenor 9 VimpelCom 9 5,800 2 33.6% 29.9% Golden Telecom 13.8% Golden Telecom 2 VimpelCom Telenor VimpelComAlfa VimpelCom Telenor VimpelCom Kyivstar 2,300 Telenor Unitech Wireless 12 2009 33G 1 GrameenPhoneTelenor3G GrameenPhone Telenor Grameen Bank Telenor Grameen Bank Telenor GrameenPhone Grameen BankGentleman Agreement Grameen Bank Telenor Telenor PAGE 18 of 20
Telenor TelenorTelenor 1981 11 NMT900 Nokia Ericsson Opera Software Telenor Research and Development Telenor Telenor 12 T-Mobile Orange Telefonica Telenor SingTel TMI NTT Telenor Telenor BMI Bangladesh Telecommunications Report World Cellular Information Service Global Mobile HP Telenor HP PAGE 19 of 20
Telenor KDDI KDDI R&A 3 KDDI R&A 7 21 KDDI R&A 8 2 KDDI R&A 9 2 National Broadband Network KDDI R&A 10 1 1 KDDI R&A 11 Village Phone Program KDDI R&A 12 Telecom Italia9,000 KDDI R&A 2009 1 KDDI R&A 2009 2 WiBro White Elephant KDDI R&A 2009 3 PAGE 20 of 20