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Regulatory press release

Grameenphone - results for the fourth quarter 2024

Telenor
Telenor Group's subsidiary in Bangladesh, Grameenphone, has today announced its
results for the fourth quarter of 2024. Telenor's consolidated figures in NOK
million are as follows:

Q4 24 Q4 23
-Revenues 3,808 3,964
-EBITDA before other income and expenses 2,184 2,428
-Operating profit 1,239 1,571
-CAPEX excl. leases 282 305

Organic service revenues decreased by 7.0%, and organic EBITDA before other
income and expenses decreased by 13.5%. During the quarter the number of
subscriptions decreased by NOK 0.3 millions. Adjusted for a one-off item of NOK
90 millions on revenues, service revenue growth was -4.6% and Ebitda growth was
-9.7%.
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