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2016-02-04

Telenor: Ingeborg Øfsthus appointed CEO of Telenor Serbia

(Fornebu, 4 February, 2016) Ms. Ingeborg Øfsthus was today appointed Chief
Executive Officer (CEO) of Telenor Serbia and Executive Vice President (EVP)
of Telenor Group. She will be part of the executive management team in
Telenor Group and assumes the position on 1 March. She will succeed Mr. Ove
Fredheim who will take on new responsibilities within Telenor.

"I am very pleased to welcome Ingeborg Øfsthus as CEO of Telenor Serbia. Her
vast technical background and solid understanding of the Serbian telecom
market makes me confident that she will continue to strengthen Telenor's
position. Her background from several Telenor markets has given her valuable
international experience, an additional asset to Telenor Group's executive
management team," said Sigve Brekke, President and CEO of Telenor Group.

Øfsthus, born in 1968, has served as Chief Technology Officer (CTO) in Serbia
since September 2012, and since February 2013, also CTO of Telenor
Montenegro. She has previously held management positions in Telenor
operations in Germany, Thailand and Norway and various positions in Telenor
Group since 1998. Ingeborg Øfsthus holds a Master of Science from the
Norwegian University of Science and Technology (NTNU).

"I am honored to be appointed CEO of Telenor Serbia. With a strong customer
brand and a state of the art network, we are well positioned to further
strengthen our role as market leader and preferred provider of mobile
services in Serbia. I look forward to working with a team of passionate and
competent employees to develop new services that benefit our customers and
Serbian society," said Øfsthus.

"I would like to thank Ove Fredheim for his efforts in developing Telenor as
the leading mobile operator in Serbia. Fredheim has also been instrumental in
the successful launch of Telenor Banka, the fastest growing bank in the
country. As President of the Foreign Investment Council, Ove has shown a
commitment to the development of Serbia beyond the telecom industry," said
Brekke.

Telenor Serbia is the country's largest mobile operator with a revenue market
share of approximately 43 per cent, 3.2 million mobile subscriptions and
1,224 employees (all figures as of Q3 2015).

Contact:
Glenn Mandelid
Telenor Group
Mobile: +47 92 66 13 00

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Telenor via Globenewswire

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