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2015-09-29

Telenor: Telenor adopts global 6-month paid maternity leave policy

Oslo, 29 September, 2015 - In line with a corporate vision of encouraging
diversity and developing more female leadership in business and society,
Telenor Group has adopted a six-month paid maternity leave policy as a
minimum standard globally across its 13 markets. The new policy will
particularly benefit Telenor's Asian markets. The current practices in
Europe, on par or above the newly proposed initiative, will be continued.

The decision represents a major step forward in creating an equitable
work-life balance for employees within the telecommunications industry. In
Telenor's Asia operations, with the exception of Bangladesh, female employees
are currently entitled to less than six months of funded maternity leave per
local regulations and personnel practices. As a result, women may decide to
leave the workforce to have children, and as internal Telenor surveys reveal,
some may not return, resulting in lost leadership opportunities and cost from
staff turnover.

The new policy will take effect from January 1, 2016. Approximately 36% of
Telenor's global workforce of 33,000 people is women.

"This is about strengthening Telenor's competitiveness in the markets where we
operate. In order to do that, we rely on attracting the best talent from
diverse backgrounds. We know that a diverse workforce drives innovation and
better performance. With the goal of ensuring that our organization better
reflects the world we live in, and in order to attract, retain, and develop
female leadership talent, we are instituting a minimum six-month paid
maternity leave as standard for our employees everywhere we operate. This
will represent a significant difference in markets such as Thailand and
India, where local regulations require only three months of maternity leave.
We consider it a highly strategic move, both from a societal and a business
perspective," said President and CEO of Telenor Group, Sigve Brekke.

The recent McKinsey and Co. research paper Diversity Matters (2014) suggests
that diversity in the workplace provides multiple business advantages in
talent recruitment, greater customer orientation, increased employee
satisfaction, better decision making, enhanced innovation, and improved
financial performance. Per the study's findings, companies in the top
quartile of diversity are more likely to have financial returns above their
national industry medians.

"We are confident that that the costs of an improved maternity leave policy
are outweighed by the savings of reduced staff turnover and the increased
competitiveness we anticipate from a more diverse and equitable workplace,
Brekke concluded.

Media Contact:

Tor Odland

Tel: +65 9777 4782,
E-mail:tor.odland@telenor.com

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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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