Telenor Norway

2008 2009 2010

(NOK in millions) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

Subscription and traffic 2,166 2,297 2,345 2,258 2,223 2,333 2,478 2,410 2,395 2,449 2,477
Interconnect revenues 318 342 324 329 340 361 319 332 337 352 340
Mobile revenues company's subscriptions 2,485 2,639 2,669 2,588 2,563 2,694 2,797 2,742 2,732 2,801 2,817
Other mobile revenues  376 274 319 394 371 381 391 387 367 375 353
Total mobile revenues 2,861 2,912 2,988 2,982 2,934 3,075 3,188 3,129 3,100 3,176 3,170
Non-mobile revenues  111 122 107 140 138 130 222 269 253 188 256
Total revenues mobile operation 2,972 3,034 3,095 3,122 3,072 3,205 3,410 3,398 3,352 3,364 3,426

Telephony 1,224 1,185 1,120 1,133 1,121 1,072 1,040 1,040 1,030 1,011 932
Broadband 665 672 661 672 675 690 685 680 666 671 658
Data services 177 172 175 170 171 154 156 151 148 139 144
Other revenues 201 288 325 418 343 366 346 404 400 350 310
Total retail revenues 2,266 2,317 2,281 2,393 2,309 2,281 2,227 2,275 2,243 2,171 2,044
Wholesale revenues 1,040 1,015 1,029 1,076 1,046 1,041 1,000 984 950 1,013 1,063
Total revenues fixed operation 3,307 3,333 3,310 3,469 3,356 3,322 3,227 3,259 3,193 3,183 3,106
Total revenues 6,278 6,367 6,405 6,591 6,428 6,527 6,637 6,657 6,545 6,547 6,532
1) Of which internal revenues
246 243 267 263 261 274 259 254 249 246 242

Total EBITDA before other income and expenses 2,411 2,487 2,557 2,436 2,585 2,644 2,749 2,498 2,699 2,572 2,627
Other income and expenses (138) (32) (101) (16) (10) (17) (29) (54) (19) (11) (54)
EBITDA 2,273 2,455 2,456 2,420 2,575 2,627 2,720 2,444 2,680 2,561 2,573
Depreciation and amortisation 1) (686) (699) (679) (754) (698) (710) (714) (819) (906) (877) (892)
Impairment losses 2) - (1) - (0) - - - - (0) (0) -
Operating profit 1,587 1,756 1,777 1,666 1,877 1,916 2,007 1,625 1,774 1,684 1,680
1)
Of which amortisation of Telenor's net excess values (4) (6) (4) (6) (3) (2) (3) (1) (3) (3) (3)
2)
Of which impairment losses of Telenor's net excess values - - - - - - - - - - -

EBITDA before other income and expenses/ Total revenues (%) 38.4 39.1 39.9 37.0 40.2 40.5 41.4 37.5 41.2 39.3 40.2
EBITDA/Total revenues (%) 36.2 38.6 38.3 36.7 40.1 40.3 41.0 36.7 40.9 39.1 39.4
Operating profit/Total revenues (%) 25.3 27.6 27.7 25.3 29.2 29.3 30.2 24.4 27.1 25.7 25.7

Capex 756 788 638 883 731 632 560 674 540 713 675
Investments in businesses 0 0 212 29 5 0 0 3 0 0 3

Mobile
No. of mobile subscriptions (in thousands) 2,732 2,783 2,843 2,881 2,888 2,917 2,967 2,991 3,001 3,032 3,071
- of which prepaid 832 819 821 813 795 785 782 761 748 751 742
Average traffic minutes per subscription per month (AMPU) in the quarter 209 224 211 216 219 225 221 228 224 232 220
Average revenue per subscription per month (ARPU) in the quarter 304 319 316 302 296 310 317 307 305 309 308
- of which contract 394 408 401 381 371 386 392 379 374 378 373
- of which prepaid 107 112 110 104 101 108 109 103 98 102 106

Fixed
No. of subscriptions (in thousands):
Retail market:
- Telephony 1,358 1,338 1,320 1,299 1,271 1,242 1,215 1,190 1,158 1,135 1,111
- of which VoIP 132 135 139 142 144 143 140 140 138 138 136
- Broadband 644 645 649 647 643 636 631 628 621 620 612

Wholesale market:
- Telephony 247 238 230 220 216 213 207 200 196 191 185
- xDSL 132 123 116 106 98 90 87 85 84 82 80
- LLUB 348 356 356 356 356 355 348 338 329 322 314
Please note - As a result of rounding differences, numbers or percentages may not add up to the total.
Denmark
2008 2009 2010
(NOK in millions) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Subscription and traffic 799 814 873 963 961 980 992 930 930 940 953
Interconnect revenues 342 351 335 392 382 391 359 366 330 302 270
Mobile revenues company's subscriptions 1,141 1,165 1,208 1,355 1,343 1,371 1,351 1,296 1,260 1,243 1,224
Other mobile revenues  79 123 111 118 103 99 93 88 81 111 108
Total mobile revenues 1,220 1,288 1,319 1,473 1,446 1,470 1,444 1,384 1,341 1,353 1,332
Non-mobile revenues  130 128 130 126 128 116 144 127 131 142 147
Total revenues mobile operation 1,350 1,416 1,449 1,599 1,574 1,586 1,588 1,511 1,472 1,495 1,479

Revenues fixed operation 482 473 460 489 458 414 387 359 343 315 300
Eliminations (14) (27) (37) (13) (16) (19) (14) (15) - - (0)
Total revenues 1) 1,818 1,862 1,872 2,075 2,016 1,981 1,961 1,855 1,815 1,810 1,779
1)
Of which internal revenues 41 41 52 60 54 50 57 45 53 54 42

EBITDA before other income and expenses 386 416 475 516 466 453 492 488 445 396 413
Other income and expenses - 12 (6) (2) (3) (21) (47) (155) (11) (16) (56)
EBITDA 386 428 469 514 463 432 445 333 434 381 356
Depreciation and amortisation 1)
(267) (324) (353) (412) (428) (419) (272) (270) (264) (273) (221)
Impairment losses 2)
- - - - - - - - - - -
Operating profit 119 104 116 102 35 13 173 63 170 108 135
1)
Of which amortisation of Telenor's net excess values (81) (132) (144) (161) (163) (164) (20) (21) (23) (22) (8)
2)
Of which impairment losses of Telenor's net excess values - - - - - - - - - - -

EBITDA before other income and expenses/ Total revenues (%) 21.2 22.3 25.4 24.9 23.1 22.9 25.1 26.3 24.5 21.9 23.2
EBITDA/Total revenues (%) 21.2 23.0 25.1 24.8 23.0 21.8 22.7 18.0 23.9 21.0 20.0

Operating profit/Total revenues (%) 7 6 6 5 2 1 9 3 9 6 8

Capex 258 337 266 429 272 275 234 147 194 546 208
Investments in businesses - - - - - 111 - - - - -

Mobile
No. of subscriptions (in thousands) 1,683 1,728 1,783 1,813 1,833 1,965 2,018 2,038 2,075 2,114 2,075
- of which prepaid 600 620 664 685 690 801 831 809 818 847 789
Average traffic minutes per subscription per month (AMPU) in the quarter 193 204 190 195 192 191 180 189 188 188 179
Average revenue per subscription per month (ARPU) in the quarter 226 230 230 251 246 240 225 213 205 198 194
- of which contract 280 278 286 321 315 308 297 277 266 256 251
- of which prepaid 133 143 132 135 132 135 122 118 112 109 107

Fixed
No. of xDSL subscriptions (in thousands) 278 280 282 272 268 263 262 259 256 251 245
No. of VoIP subscriptions (in thousands) 107 116 125 134 133 131 132 128 128 127 124
No. of PSTN subscriptions (in thousands) 235 224 208 192 176 161 152 143 138 134 145
Sweden
2008 2009 2010
(NOK in millions) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Subscription and traffic 1,093 1,116 1,123 1,120 1,026 1,088 1,112 1,082 1,087 1,138 1,194
Interconnect revenues 214 241 197 211 196 221 187 188 182 194 176
Mobile revenues company's subscriptions 1,307 1,357 1,320 1,331 1,222 1,309 1,299 1,270 1,270 1,333 1,370
Other mobile revenues  91 105 121 81 60 81 95 52 85 96 104
Total mobile revenues 1,398 1,462 1,441 1,412 1,282 1,390 1,394 1,322 1,355 1,429 1,474
Non-mobile revenues  143 135 155 214 181 198 241 282 232 290 282
Total revenues mobile operation 1,541 1,597 1,596 1,626 1,463 1,588 1,635 1,604 1,587 1,719 1,756

Revenues fixed operation 831 810 799 818 715 716 723 672 641 638 625
Eliminations (12) (15) (25) (34) (18) (26) (22) (19) - - -
Total revenues 1) 2,360 2,392 2,370 2,410 2,160 2,278 2,336 2,257 2,228 2,357 2,381
1)
Of which internal revenues 26 29 29 26 43 41 50 34 44 51 44

EBITDA before other income and expenses 514 442 573 511 385 408 637 529 549 546 609
Other income and expenses - 3 (103) 3 - (32) (14) (90) (9) (1) (28)
EBITDA 514 445 470 514 385 376 623 439 540 546 581
Depreciation and amortisation 1)
(488) (495) (559) (549) (511) (504) (509) (484) (514) (498) (533)
Impairment losses 2)
(1) - - - - - - - (0) (0) (0)
Operating profit 25 (50) (89) (35) (126) (128) 114 (45) 26 48 48
1)
Of which amortisation of Telenor's net excess values (59) (59) (92) (97) (92) (91) (94) (91) (87) (76) (144)
2)
Of which impairment losses of Telenor's net excess values - - - - - - - - - - -

EBITDA before other income and expenses/ Total revenues (%) 21.8 18.5 24.2 21.2 17.8 17.9 27.3 23.4 24.7 23.2 25.6
EBITDA/Total revenues (%) 21.8 18.6 19.8 21.3 17.8 16.5 26.7 19.5 24.2 23.1 24.4

Operating profit/Total revenues (%) 1.1 (2.1) (3.8) (1.5) (5.8) (5.6) 4.9 (2.0) 1.2 2.0 2.0

Capex 250 709 213 356 243 218 127 237 205 244 172
Investments in businesses 11 - 1 - - - 1 - - - -

Mobile
No. of subscriptions (in thousands) 1,853 1,884 1,837 1,900 1,912 1,946 1,958 1,970 1,978 2,008 2,053
- of which prepaid 470 463 361 364 341 337 327 316 309 311 319
Average traffic minutes per subscription per month (AMPU) in the quarter 199 221 208 218 211 227 221 218 224 240 231
Average revenue per subscription per month (ARPU) in the quarter 235 243 233 237 214 227 224 218 214 223 225
- of which contract 302 306 286 279 252 261 257 249 245 254 255
- of which prepaid 47 51 63 65 52 72 65 61 54 56 60

Fixed
No. of xDSL subscriptions (in thousands) 468 456 446 438 427 413 403 388 379 368 356
No. of LAN subscriptions (in thousands) 183 181 182 182 183 183 185 186 187 188 189
No. of VoIP subscriptions (in thousands) 209 212 219 224 233 242 247 248 251 252 251
No. of PSTN subscriptions (in thousands) 241 230 225 214 205 197 185 171 161 155 145
Telenor - Hungary
2008 2009 2010
(NOK in millions) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Subscription and traffic 985 1,057 1,201 1,161 987 1,029 1,083 1,018 895 888 891
Interconnect revenues 318 350 364 389 277 277 297 290 230 238 234
Mobile revenues company's subscriptions 1,303 1,407 1,565 1,550 1,264 1,306 1,380 1,308 1,125 1,126 1,125
Other mobile revenues  23 24 33 4 15 23 24 14 21 25 34
Total mobile revenues 1,326 1,431 1,598 1,554 1,279 1,329 1,404 1,322 1,146 1,151 1,159
Non-mobile revenues  54 51 58 87 43 45 40 62 39 43 44
Total revenues 1) 1,380 1,482 1,656 1,641 1,322 1,374 1,444 1,384 1,185 1,193 1,204
1)
Of which internal revenues 5 6 12 8 3 - 2 10 6 5 7

EBITDA before other income and expenses 584 612 719 601 558 572 669 490 499 502 599
Other income and expenses (3) 1 - (11) - (10) (9) (28) (31) (5) (69)
EBITDA 581 613 719 590 558 562 660 462 468 496 530
Depreciation and amortisation 1) (165) (172) (184) (182) (165) (167) (183) (161) (176) (170) (136)
Impairment losses 2) - - - - - - - - - - -
Operating profit 416 441 535 408 393 395 477 301 292 327 395
1)
Of which amortisation of Telenor's net excess values (1) - (1) - - (1) - (1) (22) (21) 8
2)
Of which impairment losses of Telenor's net excess values - - - - - - - - - - -

EBITDA before other income and expenses/ Total revenues (%) 42.3 41.3 43.4 36.6 42.2 41.6 46.3 35.4 42.1 42.0 49.8
EBITDA/Total revenues (%) 42.1 41.4 43.4 36.0 42.2 40.9 45.7 33.4 39.5 41.6 44.1
Operating profit/Total revenues (%) 30.1 29.8 32.3 24.9 29.7 28.7 33.0 21.7 24.6 27.4 32.8
Capex 107 160 130 203 91 116 96 117 54 88 47
Investments in businesses - - - - - - - - - - -

No. of mobile subscriptions (in thousands) 3,329 3,337 3,394 3,644 3,504 3,482 3,441 3,501 3,465 3,428 3,413
- of which prepaid 2,023 2,003 2,006 2,191 2,030 1,994 1,948 1,955 1,885 1,832 1,792
Average traffic minutes per subscription per month (AMPU) in the quarter 163 178 179 170 160 170 170 174 173 184 185
Average revenue per subscription per month (ARPU) in the quarter 130 141 157 146 118 125 133 126 107 109 109
- of which contract 227 240 265 247 202 205 215 201 179 175 171
- of which prepaid 66 72 80 74 56 61 66 62 49 53 55
Telenor Serbia
2008 2009 2010
(NOK in millions) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Subscription and traffic 501 557 634 585 517 545 591 488 434 445 487
Interconnect revenues 150 162 173 178 146 155 159 145 123 128 145
Mobile revenues company's subscriptions 651 719 807 763 663 700 750 633 556 573 632
Other mobile revenues  32 32 38 43 37 22 (7) 32 22 27 34
Total mobile revenues 683 751 845 806 700 722 743 665 579 600 667
Non-mobile revenues  15 22 16 28 20 23 16 60 27 25 37
Total revenues 1) 698 773 861 834 720 745 759 725 606 625 704
1)
Of which internal revenues 14 18 23 20 19 24 31 19 19 22 35

EBITDA before other income and expenses 284 337 401 411 310 297 321 274 230 252 285
Other income and expenses - (1) - - (1) - - (1) (0) (10) (0)
EBITDA 284 336 401 411 309 297 321 273 230 242 285
Depreciation and amortisation 1) (158) (165) (178) (192) (171) (171) (176) (167) (186) (158) (120)
Impairment losses 2) (1) - - (1) - (1,970) 8 30 (0) 0 (0)
Operating profit 125 171 223 218 138 (1,844) 153 136 44 84 165
1)
Of which amortisation of Telenor's net excess values (45) (46) (49) (49) (46) (45) (45) (43) (40) (20) (11)
2)
Of which impairment losses of Telenor's net excess values - - - - - (1,970) 9 29 - - -

EBITDA before other income and expenses/ Total revenues (%) 40.7 43.6 46.6 49.3 43.1 39.9 42.3 37.8 38.0 40.4 40.5
EBITDA/Total revenues (%) 40.7 43.5 46.6 49.3 42.9 39.9 42.3 37.7 38.0 38.7 40.5
Operating profit/Total revenues (%) 17.9 22.1 25.9 26.1 19.2 (247.5) 20.2 18.8 7.3 13.4 23.5
Capex 139 92 75 211 66 74 58 92 34 38 36
Investments in businesses - - - - 31 - - - - - -

No. of mobile subscriptions (in thousands) 2,730 2,722 2,777 2,844 2,863 2,831 2,862 2,843 2,889 2,882 2,984
- of which prepaid 2,037 1,988 2,011 2,040 2,027 1,973 1,978 1,926 1,936 1,914 1,971
Average traffic minutes per subscription per month (AMPU) in the quarter 88 93 94 103 95 123 124 137 120 138 144
Average revenue per subscription per month (ARPU) in the quarter 79 88 98 91 77 82 88 74 65 66 72
- of which contract 159 176 196 177 150 159 167 135 118 121 129
- of which prepaid 53 57 61 57 48 50 53 46 40 39 42
Telenor - Montenegro
2008 2009 2010
(NOK in millions) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Total revenues 164 187 236 188 166 186 225 154 136 151 200
EBITDA before other income and expenses 57 78 119 72 68 79 110 54 51 59 106
Other income and expenses - - - (1) - - (3) - 0 (0) 0
EBITDA 57 78 119 71 68 79 107 54 52 59 106
Operating profit 1)2) 6 30 78 43 44 57 86 14 (6) 22 93
1)
Of which amortisation of Telenor's net excess values (28) (28) (22) (5) (3) (3) (4) (3) (3) (25) (2)
2)
Of which impairment losses of Telenor's net excess values - - - - - - - - - - -
Capex 10 24 20 13 6 10 9 21 12 8 5
Investments in businesses - - - - - - - - - - -

No. of mobile subscriptions (in thousands) 460 521 533 431 413 436 503 465 432 447 519
- of which prepaid 377 430 434 322 305 326 396 355 321 331 403
Average traffic minutes per subscription per month (AMPU) in the quarter 130 125 120 128 131 147 130 130 122 143 145
Average revenue per subscription per month (ARPU) in the quarter 116 114 118 124 123 135 135 102 91 103 113
- of which contract 239 239 235 224 200 216 218 194 166 173 184
- of which prepaid 88 86 93 96 97 106 106 74 66 78 91
DTAC - Thailand
2008 2009 2010
(NOK in millions) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Subscription and traffic 2,152 1,897 1,944 2,338 2,376 2,270 2,190 2,162 2,288 2,457 2,483
Interconnect revenues 723 667 621 727 687 640 614 599 632 666 892
Mobile revenues company's subscriptions 2,875 2,564 2,565 3,065 3,063 2,910 2,804 2,761 2,920 3,123 3,375
Other mobile revenues  143 485 71 150 132 75 88 96 113 67 73
Total mobile revenues 3,018 3,049 2,636 3,215 3,195 2,985 2,892 2,857 3,033 3,191 3,448
Non-mobile revenues  18 19 19 26 24 24 24 43 112 170 140
Total revenues 1) 3,036 3,068 2,655 3,241 3,219 3,009 2,916 2,900 3,144 3,360 3,588
1)
Of which internal revenues 25 7 6 18 9 1 5 9 16 5 5

EBITDA before other income and expenses 1,014 1,251 802 913 937 890 909 953 1,075 1,143 1,296
Other income and expenses (34) 2 - (2) (1) 2 (5) - (0) 2 49
EBITDA 980 1,253 802 911 936 892 904 953 1,074 1,145 1,345
Depreciation and amortisation 1) (307) (285) (313) (406) (399) (416) (384) (373) (392) (423) (435)
Impairment losses 2) - - - - (5) (2) 2 - - - -
Operating profit 673 968 489 505 532 474 522 580 682 721 910
1)
Of which amortisation of Telenor's net excess values 61 55 57 69 68 67 63 64 64 69 70
2)
Of which impairment losses of Telenor's net excess values - - - - (5) - - - - - -

EBITDA before other income and expenses/ Total revenues (%) 33.4 40.8 30.2 28.2 29.1 29.6 31.2 32.9 34.2 34.0 36.1
EBITDA/Total revenues (%) 32.3 40.8 30.2 28.1 29.1 29.6 31.0 32.9 34.2 34.1 37.5
Operating profit/Total revenues (%) 22.2 31.6 18.4 15.6 16.5 15.8 17.9 20.0 21.7 21.5 25.4
Capex 378 414 617 512 262 283 201 343 116 198 168
Investments in businesses 9 14 2 1 - - - - - - -

No. of mobile subscriptions (100% in thousands) 16,656 17,433 18,213 18,682 18,945 19,200 19,271 19,657 20,288 20,640 20,936
- of which prepaid 14,565 15,246 15,863 16,212 16,602 16,822 16,939 17,366 17,996 18,334 18,623
Average traffic minutes per subscription per month (AMPU) in the quarter 363 333 317 308 303 291 291 321 324 306 328
Average revenue per subscription per month (ARPU) in the quarter 59 50 48 55 54 50 49 47 48 51 51
- of which contract 129 108 102 112 115 113 109 106 112 121 127
- of which prepaid 49 42 40 46 45 42 40 39 40 42 42
DiGi - Malaysia
2008 2009 2010
(NOK in millions) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Subscription and traffic 1,693 1,660 1,715 2,041 2,006 1,907 1,861 1,803 1,967 2,189 2,327
Interconnect revenues 183 185 197 239 242 243 240 221 218 253 194
Mobile revenues company's subscriptions 1,876 1,845 1,912 2,280 2,248 2,150 2,101 2,024 2,185 2,442 2,521
Other mobile revenues  25 22 26 30 31 28 20 22 30 36 33
Total mobile revenues 1,901 1,867 1,938 2,310 2,279 2,178 2,121 2,046 2,215 2,478 2,554
Non-mobile revenues  20 22 25 29 28 30 25 36 31 78 93
Total revenues 1) 1,921 1,889 1,963 2,339 2,307 2,208 2,146 2,082 2,245 2,556 2,647
1)
Of which internal revenues 2 1 2 2 2 3 2 3 3 3 2

EBITDA before other income and expenses 918 886 839 1,023 1,032 965 912 882 999 1,105 1,167
Other income and expenses (9) - 9 2 8 (4) (4) - (0) (0) (0)
EBITDA 909 886 848 1,025 1,040 961 908 882 998 1,104 1,167
Depreciation and amortisation 1) (274) (254) (261) (304) (319) (356) (332) (318) (337) (375) (392)
Impairment losses 2) - - - - - - - - - - -
Operating profit 635 632 587 721 721 605 576 564 661 729 775
1)
Of which amortisation of Telenor's net excess values (5) (5) (5) (6) (6) (6) (5) (6) (5) (6) (6)
2)
Of which impairment losses of Telenor's net excess values - - - - - - - - - - -

EBITDA before other income and expenses/ Total revenues (%) 47.8 46.9 42.7 43.7 44.7 43.7 42.5 42.4 44.5 43.2 44.1
EBITDA/Total revenues (%) 47.3 46.9 43.2 43.8 45.1 43.5 42.3 42.4 44.5 43.2 44.1
Operating profit/Total revenues (%) 33.1 33.5 29.9 30.8 31.3 27.4 26.8 27.1 29.4 28.5 29.3
Capex 208 1,394 311 762 277 250 365 387 147 251 373
Investments in businesses - - - - - - - - - - -

No. of mobile subscriptions (100% in thousands) 6,553 6,637 6,803 7,062 7,155 7,230 7,393 7,720 7,947 8,105 8,247
- of which prepaid 5,778 5,787 5,827 5,962 5,989 6,054 6,193 6,485 6,677 6,779 6,865
Average traffic minutes per subscription per month (AMPU) in the quarter 203 211 221 220 212 210 228 227 225 242 241
Average revenue per subscription per month (ARPU) in the quarter 96 93 95 110 105 99 96 88 93 101 103
- of which contract 144 143 143 167 158 151 150 139 143 161 160
- of which prepaid 90 86 87 100 95 89 86 80 83 90 91
Grameenphone - Bangladesh
2008 2009 2010
(NOK in millions) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Subscription and traffic 1,055 996 1,061 1,374 1,350 1,391 1,298 1,237 1,293 1,461 1,496
Interconnect revenues 90 93 106 247 215 133 124 121 137 164 174
Mobile revenues company's subscriptions 1,145 1,089 1,167 1,621 1,565 1,524 1,422 1,358 1,430 1,625 1,671
Other mobile revenues  4 3 3 4 5 4 3 4 4 4 5
Total mobile revenues 1,149 1,092 1,170 1,625 1,570 1,528 1,425 1,362 1,434 1,629 1,676
Non-mobile revenues  4 2 5 2 4 9 33 16 9 53 45
Total revenues 1) 1,153 1,094 1,175 1,627 1,574 1,537 1,458 1,378 1,443 1,682 1,721
1)
Of which internal revenues - - 1 - - - 1 - 0 0 0

EBITDA before other income and expenses 545 301 572 924 934 909 830 717 798 720 892
Other income and expenses - 3 (1) 1 - - - (1) 1 (0) (0)
EBITDA 545 304 571 925 934 909 830 716 799 719 892
Depreciation and amortisation 1) (256) (264) (314) (400) (404) (388) (368) (350) (345) (372) (373)
Impairment losses 2) - - - - - - - - - - -
Operating profit 289 40 257 525 530 521 462 366 454 347 519
1)
Of which amortisation of Telenor's net excess values - - - - - - - - - - -
2)
Of which impairment losses of Telenor's net excess values - - - - - - - - - - -

EBITDA before other income and expenses/ Total revenues (%) 47.3 27.5 48.7 56.8 59.3 59.1 56.9 52.0 55.3 42.8 51.8
EBITDA/Total revenues (%) 47.3 27.8 48.6 56.9 59.3 59.1 56.9 52.0 55.4 42.8 51.8
Operating profit/Total revenues (%) 25.1 3.7 21.9 32.3 33.7 33.9 31.7 26.6 31.5 20.7 30.2
Capex 433 418 263 1,144 281 184 130 349 98 174 120
Investments in businesses - - - - - - - - - - -

No. of mobile subscriptions (100% in thousands) 17,805 20,308 20,829 20,993 21,057 21,163 21,985 23,259 23,904 26,456 28,655
- of which prepaid 17,386 19,880 20,413 20,607 20,668 20,767 21,590 22,862 23,499 26,037 28,237
Average traffic minutes per subscription per month (AMPU) in the quarter 259 319 319 332 327 301 303 292 288 291 275
Average revenue per subscription per month (ARPU) in the quarter 22 19 19 26 25 24 22 20 20 22 20
- of which contract 80 66 59 79 76 73 69 66 67 71 69
- of which prepaid 21 18 18 25 24 23 21 19 19 21 19
Telenor Pakistan
2008 2009 2010
(NOK in millions) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Subscription and traffic 847 797 701 898 914 915 824 833 869 983 923
Interconnect revenues 183 173 144 191 185 195 178 175 167 187 179
Mobile revenues company's subscriptions 1,030 970 845 1,089 1,099 1,110 1,002 1,008 1,035 1,171 1,102
Other mobile revenues  3 2 7 6 4 4 5 1 4 4 9
Total mobile revenues 1,033 972 852 1,095 1,103 1,114 1,007 1,009 1,039 1,175 1,112
Non-mobile revenues  9 19 17 14 18 18 32 49 35 61 57
Total revenues 1) 1,042 991 869 1,109 1,121 1,132 1,039 1,058 1,074 1,236 1,169
1)
Of which internal revenues 2 9 13 9 10 8 10 3 3 9 14

EBITDA before other income and expenses 179 206 99 225 232 260 254 309 298 409 347
Other income and expenses - - - - - (2) (1) (1) (5) 5 (49)
EBITDA 179 206 99 225 232 258 253 308 293 414 298
Depreciation and amortisation 1) (235) (211) (221) (352) (322) (312) (305) (379) (302) (323) (327)
Impairment losses 2) - - - - - - - - - - -
Operating profit (56) (5) (122) (127) (90) (54) (52) (71) (9) 91 (29)
1)
Of which amortisation of Telenor's net excess values - - - - - - - - - - -
2)
Of which impairment losses of Telenor's net excess values - - - - - - - - - - -

EBITDA before other income and expenses/ Total revenues (%) 17.2 20.8 11.4 20.3 20.7 23.0 24.4 29.2 27.7 33.1 29.7
EBITDA/Total revenues (%) 17.2 20.8 11.4 20.3 20.7 22.8 24.4 29.1 27.3 33.5 25.5
Operating profit/Total revenues (%) (5.4) (0.5) (14.0) (11.5) (8.0) (4.8) (5.0) (6.7) (0.9) 7.3 (2.5)
Capex 638 966 208 1,249 341 182 199 603 120 215 124
Investments in businesses - - - 95 - - - - - - -

No. of mobile subscriptions (in thousands) 16,702 18,125 18,472 19,388 19,985 20,893 21,659 22,501 23,279 23,798 23,836
- of which prepaid 16,561 17,970 18,307 19,320 19,894 20,776 21,542 22,357 23,110 23,605 23,632
Average traffic minutes per subscription per month (AMPU) in the quarter 163 165 146 155 155 163 156 173 178 186 175
Average revenue per subscription per month (ARPU) in the quarter 22 19 15 19 19 18 16 15 15 17 15
- of which contract 51 41 35 61 82 78 75 64 57 60 57
- of which prepaid 22 18 15 19 18 18 15 15 15 16 15
Uninor
2008 2009 2010
(NOK in millions) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Total revenues 1) - - 3 56 103 214
1)
Of which internal revenues - - - 0 (0) 0

EBITDA before other income and expenses (80) (149) (677) (974) (1,132) (1,115)
Other income and expenses - - - (0) (0) (0)
EBITDA (80) (149) (677) (974) (1,132) (1,115)
Depreciation and amortisation 1) - (1) (78) (139) (191) (222)
Impairment losses 2) - - - - - -
Operating profit (80) (150) (755) (1,113) (1,323) (1,337)
1)
Of which amortisation of Telenor's net excess values - - (6) (1) (9) (12)
2)
Of which impairment losses of Telenor's net excess values - - - - - -

EBITDA before other income and expenses/ Total revenues (%) nm nm nm nm nm nm

EBITDA/Total revenues (%) - - nm nm nm nm
Operating profit/Total revenues (%) - - nm nm nm nm
Capex 424 2,076 1,196 712 364 198
Investments in businesses 17 - - - - -

No. of mobile subscriptions (in thousands) - - 1,008 2,155 3,873 7,918

- of which prepaid - - 1,008 2,155 3,873 7,918
Average traffic minutes per subscription per month (AMPU) in the quarter - - nm 148 209 254
Average revenue per subscription per month (ARPU) in the quarter - - nm 10 12 13
BROADCAST
2008 2009 2010
(NOK in millions) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Revenues
Canal Digital Group 1,477 1,633 1,592 1,690 1,632 1,637 1,679 1,719 1,682 1,699 1,732
Transmission & Encryption 554 563 546 602 593 577 567 589 586 592 616
Other/Eliminations (109) (130) (116) (132) (123) (130) (79) (96) (121) (109) (111)
Total revenues 1) 1,922 2,066 2,022 2,160 2,102 2,084 2,167 2,212 2,147 2,182 2,237
1)
Of which internal revenues 23 24 25 27 24 24 23 24 22 23 25

EBITDA before other items and expenses

Canal Digital Group 124 40 189 121 137 190 193 190 221 243 270
Transmission & Encryption 311 309 306 319 312 314 328 323 316 317 357
Other/Eliminations (12) (20) (6) (51) (14) (7) (6) (16) (10) (26) (8)
Total EBITDA before other income and expenses 423 329 489 389 435 497 515 497 527 534 619
Other income and expenses: (37) (2) (33) (53) (10) 8 (28) (27) (5) (9) (6)
Total EBITDA 386 327 456 336 425 505 487 470 522 525 613
Depreciation and amortisation 1)
(176) (196) (182) (200) (205) (214) (224) (239) (238) (236) (230)
Impairment losses 2) - - (3) (3) - - - - (0) 0 0
Operating profit 210 131 271 133 220 291 263 231 284 289 383
Of which:
Canal Digital Group 61 (27) 97 43 57 113 105 89 124 143 193
Transmission & Encryption 206 186 196 203 199 198 178 179 180 185 229
Other/Eliminations (57) (28) (22) (113) (36) (20) (20) (37) (20) (39) (38)
1)
Of which amortisation of Telenor's net excess values (4) (4) (4) (4) (4) (5) (4) (4) (4) (4) (4)
2)
Of which impairment losses of Telenor's net excess values - - - - - - - - - - -

EBITDA before other income and expenses/ Total revenues (%) 22.0 15.9 24.2 18.0 20.7 23.8 23.8 22.5 24.5 24.5 27.7
EBITDA/Total revenues (%) 20.1 15.8 22.6 15.6 20.2 24.2 22.5 21.2 24.3 24.1 27.4
Operating profit/Total revenues (%) 10.9 6.3 13.4 6.2 10.5 14.0 12.1 10.4 13.2 13.2 17.1
Capex 1,398 323 322 322 245 228 317 1,151 116 223 211
Investments in businesses - 25 - 19 88 - 73 69 0 1,099 -

No. of DTH TV subscribers (in thousands) 1,124 1,121 1,125 1,113 1,096 1,079 1,071 1,060 1,054 1,039 1,025
No. of Cable TV subscribers (in thousands) 710 734 741 746 739 732 732 729 721 713 717
- of which in Norway 442 466 474 476 473 471 474 477 479 480 483
- of which in Sweden 235 235 233 235 231 226 223 217 212 202 203
- of which in Denmark 33 33 34 35 35 35 35 35 30 31 31
No. of Cable TV Internet access (in thousands) 140 149 170 188 204 216 231 246 257 262 270
- of which in Norway 121 130 147 164 180 193 207 223 234 239 248
- of which in Sweden 3 3 3 3 3 3 3 3 3 2 2
- of which in Denmark 16 16 20 21 21 20 21 20 20 21 21
OTHER UNITS
2008 2009 2010
(NOK in millions) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Revenues
New Business 23 26 32 38 38 44 54 47 41 55 60
Corporate functions and Group activities 535 529 534 595 563 639 588 632 599 646 598
Other/eliminations 127 137 132 117 136 142 143 144 169 136 154
Total revenues 1) 685 692 698 750 737 825 785 823 809 838 812
1) Of which internal revenues
590 603 603 640 616 716 648 662 673 665 670

EBITDA before other income and expenses 64 7 56 20 (159) (124) (72) (53) (41) (96) 33
Other income and expenses (15) (4) - 9 4 (6) (51) (5) (5) (5)
EBITDA
New Business (23) (35) (48) (62) (48) (40) (41) (86) (26) (29) (11)
Corporate functions and Group activities (158) (153) (137) (146) (182) (166) (105) (88) (115) (134) (53)
Other/eliminations 99 98 81 78 75 81 68 70 95 63 91
Total EBITDA (82) (90) (104) (130) (155) (125) (78) (104) (46) (101) 27
Depreciation and amortisation 1) (102) (112) (109) (121) (116) (109) (107) (119) (109) (110) (107)
Impairment losses 2) - - (3) - - - - (1) (0) 0 (0)
Operating profit / (loss) (184) (202) (216) (251) (271) (234) (185) (224) (155) (211) (80)
Of which:
New Business (31) (48) (60) (75) (62) (54) (55) (100) (34) (38) (20)
Corporate functions and Group activities (251) (252) (236) (253) (284) (261) (197) (191) (212) (231) (145)
Other/eliminations 98 98 80 77 75 81 67 67 91 58 86
1) Of which amortisation of Telenor's net excess values
(2) (1) (2) (2) (1) (3) (2) (1) - - -
2) Of which impairment losses of Telenor's net excess values
- - - - - - - - - - -

Capex 69 187 167 168 108 42 63 138 37 161 (32)

Capex from discontinued operations 110 175 286 127 75 92 106 112 85 91 82
Investments in businesses 1,378 37 8 25 44 32 21 9 13 4 27

The tables include investments from discontinued operations prior to their disposal
Venture is included in other/eliminations
CONSOLIDATED INCOME STATEMENT
Telenor Group 2008 2009 2010
(NOK in millions except earnings per share) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Revenues 21,481 21,872 21,734 23,886 22,828 22,735 22,767 22,418 22,339 23,550 24,096
Costs of materials and traffic charges (5,988) (6,149) (6,038) (6,655) (6,166) (6,084) (6,161) (6,099) (6,037) (6,442) (6,455)
Salaries and personnel costs (2,418) (2,509) (2,194) (2,669) (2,702) (2,744) (2,452) (2,761) (2,727) (2,780) (2,426)
Other operating expenses (5,828) (5,958) (5,979) (6,699) (6,187) (6,130) (5,966) (6,626) (6,424) (7,321) (7,330)
Other income and (expenses) (236) (18) (235) (70) (13) (77) (146) (359) (85) (131) (139)
EBITDA 7,011 7,238 7,289 7,793 7,760 7,700 8,042 6,574 7,065 6,875 7,746
Depreciation and amortisation (3,156) (3,208) (3,379) (3,894) (3,754) (3,778) (3,586) (3,787) (3,958) (4,037) (3,994)
Impairment losses (2) (1) (6) (4) (5) (1,972) 10 29 (0) 0 (0)
Operating profit 3,853 4,030 3,904 3,895 4,001 1,950 4,465 2,816 3,107 2,838 3,751
Profit (loss) from associated companies 2,998 1,850 1,789 199 (199) 1,569 1,864 432 (93) 7,608 1,049
Net financial income (expenses) (561) (450) (1,122) (815) (620) (366) (643) (392) (859) (188) (451)
Profit before taxes 6,290 5,430 4,571 3,279 3,182 3,153 5,686 2,856 2,155 10,258 4,349
Income taxes (1,202) (1,224) (1,049) (798) (1,031) (1,288) (1,438) (366) (885) (560) (2,300)
Profit from continuing operations 5,088 4,206 3,522 2,481 2,151 1,865 4,248 2,490 1,270 9,698 2,050
Profit (loss) from discontinued operations (62) (230) (156) (40) (33) (114) (462) (43) (121) (116) (279)
Net income 5,026 3,975 3,366 2,442 2,118 1,751 3,786 2,448 1,149 9,582 1,771

Net income attributable to:

Non-controlling interests (minority interests) 455 439 372 479 496 377 297 281 112 89 72
Equity holders of Telenor ASA 4,571 3,536 2,994 1,963 1,622 1,374 3,489 2,167 1,038 9,494 1,698

Earnings per share in NOK

From continuing operations:
Basic 2.76 2.25 1.89 1.21 1.00 0.90 2.39 1.33 0.70 5.80 1.20
Diluted 2.76 2.25 1.89 1.21 1.00 0.90 2.38 1.33 0.70 5.80 1.20
From total operations:
Basic 2.72 2.11 1.80 1.18 0.98 0.83 2.11 1.31 0.63 5.73 1.03
Diluted 2.72 2.11 1.80 1.18 0.98 0.83 2.11 1.31 0.63 5.73 1.03

Average outstanding shares in millions*)

For Basic calculation
Outstanding shares*) during the quarter. 1,678,370,878 1,672,900,570 1,662,789,715 1,660,820,068 1,657,818,846 1,655,740,531 1,655,805,222 1,655,947,749 1,656,084,549 1,656,160,623 1,648,147,920
Outstanding shares*) year to date. 1,678,370,878 1,675,635,724 1,671,322,465 1,668,682,519 1,657,850,513 1,656,789,693 1,656,457,930 1,656,329,346 1,656,084,549 1,656,122,796 1,653,445,530
For Diluted calculation
Outstanding shares*) during the quarter. 1,679,802,331 1,674,223,194 1,664,390,181 1,661,257,357 1,659,037,203 1,657,141,111 1,657,421,756 1,657,678,470 1,657,443,853 1,657,545,648 1,649,553,565
Outstanding shares*) year to date. 1,679,802,331 1,676,958,348 1,673,169,627 1,670,309,389 1,659,068,870 1,658,112,927 1,657,903,476 1,657,831,467 1,657,443,853 1,657,494,228 1,654,822,594
*) Weighted average number of ordinary outstanding shares.

Number of ordinary shares at end of period 1,680,274,570 1,680,274,570 1,657,888,846 1,657,888,846 1,657,888,846 1,657,888,846 1,657,888,846 1,657,888,846 1,657,888,846 1,657,888,846 1,657,888,846
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
Telenor Group 2008 2009 2010
(NOK in millions) 31 Mar 30 Jun 30 Sep 31 Dec 31 Mar 30 Jun 30 Sep 31 Dec 31 Mar 30 Jun 30 Sep 31 Dec
Deferred tax assets 2,676 2,510 2,845 2,815 1,362 877 966 1,811 1,809 1,665 1,661
Goodwill 30,339 30,911 32,001 34,227 31,368 31,023 29,448 28,873 28,785 28,547 24,716
Intangible assets 24,936 26,059 27,579 31,153 31,483 31,214 28,577 28,120 28,524 29,587 27,175
Property, plant and equipment 48,739 50,360 52,201 59,772 56,258 55,430 54,005 55,598 55,655 56,652 53,082
Associated companies 18,478 20,513 24,405 20,811 18,345 17,708 17,365 17,241 17,671 30,872 31,013
Other non-current assets 3,503 2,413 2,953 6,020 4,955 4,916 4,745 3,215 2,927 3,217 3,321
Total non-current assets 128,671 132,766 141,984 154,798 143,771 141,168 135,106 134,858 135,370 150,541 140,969

Trade receivables 8,706 8,879 8,769 10,204 8,851 8,972 8,642 9,178 8,125 8,744 8,026
Other current assets 10,639 11,344 10,070 12,166 10,425 9,717 9,677 9,317 10,259 10,648 9,547
Assets classified as held for sale - - - - - 678 278 258 144 - 0
Other financial current assets 831 737 741 1,079 868 1,107 1,137 941 914 660 762
Cash and cash equivalents 11,476 6,994 8,373 8,925 11,235 16,191 15,420 11,479 16,439 14,628 13,361
Total current assets 31,652 27,954 27,953 32,374 31,379 36,665 35,154 31,173 35,880 34,680 31,697
Total assets 160,323 160,720 169,937 187,172 175,150 177,833 170,260 166,031 171,250 185,220 172,666

Equity attributable to equity holders of Telenor ASA 70,536 69,128 76,121 80,947 72,334 75,359 74,314 75,976 78,174 88,577 86,839
Non-controlling interests (minority interests) 5,809 6,142 6,709 7,621 8,979 9,117 8,680 9,089 10,429 10,422 8,726
Total equity 76,345 75,270 82,830 88,568 81,313 84,476 82,994 85,065 88,603 98,999 95,566

Non-current interest-bearing liabilities 39,276 38,517 35,633 40,452 39,865 40,663 34,754 32,959 35,461 33,465 26,867
Non-current non-interest-bearing liabilities 993 820 835 944 1,129 939 720 718 1,083 1,337 1,008
Deferred tax liabilities 3,686 3,688 4,258 4,696 4,588 4,371 4,159 3,834 4,076 3,103 2,917
Pension obligations 2,352 2,523 2,687 2,634 2,537 2,611 2,158 2,089 2,203 2,118 1,978
Other provisions 1,089 1,117 1,152 1,681 1,662 1,778 2,127 1,863 1,881 2,038 1,850
Total non-current liabilities 47,396 46,665 44,565 50,407 49,781 50,362 43,918 41,463 44,704 42,060 34,620

Current interest-bearing liabilities 8,642 10,575 12,507 15,581 12,803 12,358 11,106 6,383 3,670 8,144 7,936
Trade payables 7,296 7,332 7,632 7,354 6,857 7,886 8,971 7,605 7,284 8,001 7,113
Current non-interest-bearing liabilities 20,644 20,878 22,403 25,262 24,396 22,333 22,993 25,231 26,796 28,016 27,432
Liabilities classified as held for sale - - - - - 418 278 284 193 - -
Total current liabilities 36,582 38,785 42,542 48,197 44,056 42,995 43,348 39,503 37,943 44,161 42,480
Total equity and liabilities 160,323 160,720 169,937 187,172 175,150 177,833 170,260 166,031 171,250 185,220 172,666

Equity ratio including non-controlling interests (%) 47.6 46.8 48.7 47.3 46.4 47.5 48.7 51.2 51.7 53.4 55.3

Net interest-bearing liabilities 35,665 41,647 39,274 45,547 39,874 35,254 28,628 26,332 21,252 25,546 19,787
CONSOLIDATED STATEMENT OF CASH FLOWS
Telenor Group 2008 2009 2010
(NOK in millions) 31 Mar 30 Jun 30 Sep 31 Dec 31 Mar 30 Jun 30 Sep 31 Dec 31 Mar 30 Jun 30 Sep 31 Dec
Profit before taxes from total operations 6,253 11,459 15,894 19,003 3,176 6,235 11,610 14,184 2,039 12,170 16,165
Income taxes paid (961) (2,651) (3,363) (3,870) (655) (1,402) (2,028) (2,491) (611) (3,210) (3,971)
Net (gains) losses from disposals, impairments and change in fair value of financial assets and liabi 180 (14) 461 394 41 (91) (181) (57) (14) 30 (61)
Depreciation, amortisation and impairment losses 3,261 6,590 10,097 14,210 3,857 9,719 13,788 17,653 4,058 8,195 12,463
Loss (profit) from associated companies (2,998) (4,848) (6,637) (6,836) 199 (1,370) (3,234) (3,667) 93 (7,515) (8,564)
Dividends received from associated companies - - 1,038 1,258 1,427 3,553 3,592 4,757 241 395 396
Currency (gains) losses not related to operating activities 64 37 347 441 (84) (179) 68 82 540 511 769
Changes in other operating working capital assets and liabilities 574 1,677 2,264 1,029 1,138 1,499 2,219 161 2,535 3,233 3,844
Net cash flow from operating activities 6,373 12,250 20,101 25,629 9,099 17,964 25,834 30,622 8,881 13,809 21,041

Purchases of property, plant and equipment (PPE) and intangible assets (4,421) (9,113) (12,346) (17,465) (3,804) (7,035) (9,922) (13,014) (3,757) (7,058) (10,000)
Purchases of subsidiaries and associated companies, net of cash acquired (1,193) (1,131) (1,292) (1,321) (25) (529) (611) (655) (29) (1,127) (1,154)
Proceeds of PPE, intangible assets and businesses, net of cash disposed 4,177 4,197 4,253 4,291 17 40 109 75 54 (10) (173)
Proceeds and purchases of other investments 1 42 12 (308) (76) (248) (218) (72) (359) (414) (445)
Net cash flow from investing activities (1,436) (6,005) (9,373) (14,803) (3,888) (7,772) (10,642) (13,666) (4,091) (8,609) (11,772)

Proceeds from and repayments of borrowings 686 996 (673) (534) (2,256) (1,771) (6,233) (12,218) 184 1,916 (988)
Proceeds from issuance of shares, incl. from non-controlling interests in subsidiaries (21) (23) (23) 338 - - - 518 - - -
Share buyback by Telenor ASA (761) (761) (2,108) (2,108) - - (5) (5) (8) (8) (1,386)
Repayment of equity and dividends paid to non-controlling interests in subsidiaries - (565) (928) (1,514) - (627) (1,022) (1,530) (380) (1,169) (1,450)
Dividends paid to equity holders of Telenor ASA - (5,416) (5,678) (5,678) - - - - - (4,007) (4,141)
Net cash flow from financing activities (96) (5,769) (9,410) (9,496) (2,256) (2,398) (7,260) (13,235) (204) (3,268) (7,965)

Effects of exchange rate changes on cash and cash equivalents (206) (323) 214 754 (645) (515) (1,408) (1,094) 412 1,144 505
Reclassified cash and cash equivalents to Investment in Kyivstar 4,635 153 1,532 2,084 2,310 7,279 6,524 2,627 4,998 3,076 1,809
Net change in cash and cash equivalents 6,841 6,841 6,841 6,841 8,925 8,925 8,925 8,925 11,552 11,552 11,552
Cash and cash equivalents at the beginning of the period 11,476 6,994 8,373 8,925 11,235 16,204 15,449 11,552 16,550 14,628 13,361
Cash and cash equivalents at the end of the period 1) - - - - - 13 29 73 111 54 -
Of which cash and cash equivalents in discontinued operations at the end of the period 11,476 6,994 8,373 8,925 11,235 16,191 15,420 11,479 16,439 14,574 13,361

The statement includes discontinued operations prior to their disposal.

Cash flow from discontinued operations

Net cash flow from operating activities (364) (465) (566) - (118) (14) 42 369 (232) (295) (413)
Net cash flow from investing activities (1,240) (1,309) (1,441) (1,539) (113) (219) (270) (379) (85) (172) (246)
Net cash flow from financing activities 1,341 1,357 1,443 1,394 (138) (172) (332) (417) (25) (310) (333)

The cash flows ascribed to discontinued operations are only cash flows from external transactions.
Hence, the cash flows presented for discontinued operations do not reflect these operations as if they were stand alone entities.
SPECIAL ITEMS
Telenor Group 2008 2009 2010
(NOK in millions) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Gains (losses) on disposal of fixed assets and operations
Telenor - Norway (71) 0 (96) (11) (3) 2 (21) (19) (12) (0) (0)
Telenor - Sweden - (1) (21) 4 - (30) (11) (1) (7) (1) (2)
Telenor - Denmark - 12 (6) (2) (3) 1 - (93) 1 (8) (0)
Telenor - Hungary (3) 1 - (1) - (1) (1) (6) 1 (5) (3)
Telenor - Serbia - (1) - - (1) - - (1) (0) (0) (0)
Telenor - Montenegro - - - (1) - - - - 0 (0) 0
DTAC - Thailand - 1 (1) - (1) 2 (5) - (0) 2 49
DiGi - Malaysia (9) - 9 2 8 (4) (4) - (0) (0) (0)
Grameenphone - Bangladesh - 3 (1) 1 - - - (1) 1 (0) (0)
Telenor - Pakistan - - - - - (2) (1) (1) (5) 5 (49)
Uninor - India - - - - - - - - (0) (0) (0)
Broadcast - - - - - 9 - (9) (0) (8) (11)
EDB Business Partner - - - - - - - - - - -
Other business units - - - (2) - - - (51) 2 2 7
Corporate functions and Group activities - (2) - - 5 - (6) 1 14 0 2
Eliminations - - - - - - - 0 - - -
Total gains (losses) on disposal of fixed assets and operations (83) 13 (116) (10) 5 (23) (49) (180) (6) (13) (8)

Workforce reductions and loss contracts

Telenor - Norway (67) (32) (6) (5) (7) (19) (8) (35) (8) (11) (19)
Telenor - Sweden - 4 (82) (1) - (2) (3) (89) (2) (0) (26)
Telenor - Denmark - - - - - (22) (47) (62) (12) (8) (56)
Telenor - Hungary - - - (10) - (9) (8) (22) (32) (0) (66)
Telenor - Serbia - - - - - - - - - (10) 0
Telenor - Montenegro - - - - - - (3) - (0) (0) 0
DTAC - Thailand (34) 1 1 (2) - - - - - - -
DiGi - Malaysia - - - - - - - - - - -
Grameenphone - Bangladesh - - - - - - - - - - -
Telenor - Pakistan - - - - - - - - - - -
Uninor - India - - - - - - - - - - -
Broadcast (37) (2) (33) (53) (10) (1) (28) (18) (5) (1) 9
EDB Business Partner - - - - - - - - - - -
Other business units - - - - - - - - - - -
Corporate functions and Group activities (15) (2) - 11 (1) (1) - (1) (20) (7) (8)
Eliminations - - - - - - - 49 - (81) 81
Total workforce reductions and loss contracts (153) (31) (120) (60) (18) (54) (97) (179) (79) (118) (86)

One-time effects to pension costs - - - - - - - - - - (46)

Total other (income) and expenses (236) (18) (235) (70) (13) (77) (146) (359) (85) (131) (139)
SPECIAL ITEMS

Telenor Group 2008 2009 2010

(NOK in millions) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Impairment losses
Telenor - Norway - (1) - (0) - - - - (0) (0) -
Telenor - Sweden (1) - - - - - - - (0) (0) (0)
Telenor - Denmark - - - - - - - - - - -
Telenor - Hungary - - - - - - - - - - -
Telenor - Serbia (1) - - (1) - (1,970) 8 30 (0) 0 (0)
Telenor - Montenegro - - - - - - - - - - -
DTAC - Thailand - - - - (5) (2) 2 - - - -
DiGi - Malaysia - - - - - - - - - - -
Grameenphone - Bangladesh - - - - - - - - - - -
Telenor - Pakistan - - - - - - - - - - -
Uninor - India - - - - - - - - - - -
Broadcast - - (3) (3) - - - - (0) 0 0
EDB Business Partner - - - - - - - - - - -
Other business units - - (3) 3 - - - - (0) 0 (0)
Corporate functions and Group activities - - - (3) - - - (1) (0) 0 (0)
Eliminations - - - - - - - - - - -
Total impairment losses (2) (1) (6) (4) (5) (1,972) 10 29 (0) 0 (0)

Special items associated companies

Gains (losses) on disposal of ownership interests 1,615 4 - 1 - - - - - 6,514 29
Impairment losses associated companies - - (17) - - - - - - - -
Gains (losses) on disposal and impaiment losses associated companies 1,615 4 (17) 1 - - - - - 6,514 29

Net gains (losses) and impaiment losses financial items (7) 7 18 (13) (1) 1 1 (84) 30 - 39
Reconciliation
Telenor Group 2008 2009 2010
(NOK in millions) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Net income 5,026 3,975 3,366 2,442 2,118 1,751 3,786 2,448 1,149 9,582 1,771
Profit (loss) from discontinued operations (62) (230) (156) (40) (33) (114) (462) (43) (121) (116) (279)
Profit from continuing operations 5,088 4,206 3,522 2,481 2,151 1,865 4,248 2,490 1,270 9,698 2,050
Income taxes (1,202) (1,224) (1,049) (798) (1,031) (1,288) (1,438) (366) (885) (560) (2,300)
Profit before taxes 6,290 5,430 4,571 3,279 3,182 3,153 5,686 2,856 2,155 10,258 4,349
Net financial income (expenses) (561) (450) (1,122) (815) (620) (366) (643) (392) (859) (188) (451)
Profit (loss) from associated companies 2,998 1,850 1,789 199 (199) 1,569 1,864 432 (93) 7,608 1,049
Depreciation and amortisation (3,156) (3,208) (3,379) (3,894) (3,754) (3,778) (3,586) (3,787) (3,958) (4,037) (3,994)
Impairment losses (2) (1) (6) (4) (5) (1,972) 10 29 (0) 0 (0)
EBITDA 7,011 7,238 7,289 7,793 7,760 7,700 8,042 6,574 7,065 6,875 7,746
Gains (losses) on disposal of fixed assets and operations (83) 13 (116) (10) 5 (23) (49) (180) (6) (13) (8)
Workforce reductions and loss contracts (153) (31) (120) (60) (18) (54) (97) (179) (79) (118) (86)
One-time effects to pension costs 0 0 0 0 0 0 0 0 0 0 (46)
EBITDA before other income and expenses 7,247 7,256 7,524 7,863 7,773 7,777 8,188 6,933 7,151 7,006 7,885

Operating profit 3,853 4,030 3,904 3,895 4,001 1,950 4,465 2,816 3,107 2,838 3,751
Impairment losses (2) (1) (6) (4) (5) (1,972) 10 29 (0) 0 (0)
Other income and (expenses) (236) (18) (235) (70) (13) (77) (146) (359) (85) (131) (139)
Adjusted operating profit 4,091 4,049 4,145 3,969 4,019 3,999 4,601 3,146 3,193 2,969 3,891

Profit before taxes 6,290 5,430 4,571 3,279 3,182 3,153 5,686 2,856 2,155 10,258 4,349
Net gains (losses) and impaiment losses financial items (7) 7 18 (13) (1) 1 1 (84) 30 - 39
Gains (losses) on disposal and impaiment losses associated companies 1,615 4 (17) 1 - - - - - 6,514 29
Impairment losses (2) (1) (6) (4) (5) (1,972) 10 29 (0) 0 (0)
Other income and (expenses) (236) (18) (235) (70) (13) (77) (146) (359) (85) (131) (139)
Adjusted profit before taxes 4,920 5,438 4,811 3,365 3,201 5,201 5,821 3,270 2,211 3,875 4,421
Depreciation, amortisation and impairment losses
Telenor Group 2008 2009 2010
(NOK in millions) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Depreciation 1) (2,083) (2,077) (2,230) (2,522) (2,435) (2,449) (2,424) (2,606) (2,743) (2,805) (2,795)
Amortisation 2) (1,073) (1,131) (1,149) (1,372) (1,319) (1,329) (1,162) (1,182) (1,215) (1,232) (1,199)
Total depreciation and amortisation (3,156) (3,208) (3,379) (3,894) (3,754) (3,778) (3,586) (3,788) (3,958) (4,037) (3,994)
Impairment losses 1) (2) (1) (3) (1) - - - (1) (0) 0 (0)
Impairment losses of goodwill - - - - (5) (1,970) 13 25 (0) 0 0
Impairment losses 2) - - (3) (3) - (2) (3) 5 - 0 (0)
Total impairment losses (2) (1) (6) (4) (5) (1,972) 10 29 (0) 0 (0)
Total depreciation, amortisation and impairment losses (3,158) (3,209) (3,385) (3,898) (3,759) (5,750) (3,576) (3,759) (3,958) (4,037) (3,994)
1)
Tangible assets (property, plant and equipment)
2)
Other intangible assets and prepaid lease payments.

Telenor Group 2008 2009 2010

(NOK in millions) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Depreciation of property, plant and equipment
1)

Telenor - Norway (538) (549) (525) (554) (522) (523) (528) (623) (732) (700) (720)
Telenor - Sweden (273) (270) (344) (312) (308) (298) (298) (284) (312) (307) (336)
Telenor - Denmark (115) (117) (136) (161) (174) (169) (171) (158) (156) (168) (128)
Telenor - Hungary (121) (127) (134) (127) (111) (115) (129) (109) (104) (101) (97)
Telenor - Serbia (73) (76) (84) (98) (83) (83) (91) (87) (112) (106) (77)
Telenor - Montenegro (18) (16) (13) (17) (15) (13) (12) (27) (42) (9) (7)
DTAC - Thailand (36) (35) (45) (48) (57) (72) (57) (57) (60) (64) (62)
DiGi - Malaysia (244) (219) (232) (270) (263) (281) (261) (251) (267) (296) (309)
Grameenphone - Bangladesh (241) (254) (303) (372) (374) (364) (343) (325) (319) (345) (346)
Telenor - Pakistan (202) (180) (189) (318) (284) (279) (272) (358) (271) (289) (294)
Uninor - India - - - - - - - (50) (90) (146) (148)
Broadcast (158) (177) (162) (176) (176) (184) (192) (207) (208) (206) (201)
Other operations (73) (74) (78) (76) (76) (79) (80) (80) (77) (76) (76)
Eliminations 9 17 15 7 8 11 10 10 7 6 6
Total depreciation of property, plant and equipment (2,083) (2,077) (2,230) (2,522) (2,435) (2,449) (2,424) (2,606) (2,743) (2,805) (2,795)
Amortisation of other intangible assets and prepaid lease payments
2)

Telenor - Norway (148) (149) (155) (200) (176) (187) (186) (196) (174) (177) (172)
Telenor - Sweden (215) (225) (215) (237) (203) (206) (211) (200) (202) (191) (197)
Telenor - Denmark (152) (207) (217) (251) (254) (250) (101) (112) (108) (104) (93)
Telenor - Hungary (44) (45) (50) (55) (54) (52) (54) (52) (72) (69) (38)
Telenor - Serbia (85) (89) (94) (94) (88) (88) (86) (79) (74) (53) (43)
Telenor - Montenegro (33) (33) (27) (11) (9) (9) (9) (13) (15) (28) (5)
DTAC - Thailand (271) (250) (268) (358) (342) (344) (327) (316) (332) (360) (373)
DiGi - Malaysia (30) (35) (29) (34) (56) (75) (71) (67) (71) (79) (83)
Grameenphone - Bangladesh (15) (10) (11) (28) (30) (24) (25) (25) (26) (27) (27)
Telenor - Pakistan (33) (31) (32) (34) (38) (33) (33) (21) (31) (34) (34)
Uninor - India - - - - - - - (29) (48) (45) (75)
Broadcast (18) (19) (20) (24) (29) (30) (32) (32) (30) (30) (29)
Other operations (29) (38) (31) (45) (40) (30) (27) (39) (32) (34) (31)
Eliminations - - - (1) - (1) - (1) (0) (0) 0
Total amortisation of other intangible assets 3) (1,073) (1,131) (1,149) (1,372) (1,319) (1,329) (1,162) (1,182) (1,215) (1,232) (1,199)
Total depreciation and amortisation (3,156) (3,208) (3,379) (3,894) (3,754) (3,778) (3,586) (3,788) (3,958) (4,037) (3,994)

Of which:
3)

Customer base (227) (195) (189) (182) (178) (145) (173) (167) (157) (126) (58)
Licences and rights (300) (288) (306) (393) (396) (410) (401) (399) (410) (456) (474)
Trademarks and brands (58) (142) (152) (179) (182) (179) (38) (35) (61) (82) (34)
Total (584) (625) (647) (754) (756) (734) (611) (601) (627) (664) (566)
Capex
Telenor Group 2008 2009 2010
(NOK in millions) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Telenor - Norway 756 788 638 883 731 632 560 674 540 713 675
Telenor - Sweden 250 709 213 356 243 218 127 237 205 244 172
Telenor - Denmark 258 337 266 429 272 275 234 147 194 546 208
Telenor - Hungary 107 160 130 203 91 116 96 117 54 88 47
Telenor - Serbia 139 92 75 211 66 74 58 92 34 38 36
Telenor - Montenegro 10 24 20 13 6 10 9 21 12 8 5
DTAC - Thailand 378 414 617 512 262 283 201 343 116 198 168
DiGi - Malaysia 208 1,394 311 762 277 250 365 387 147 251 373
Grameenphone - Bangladesh 433 418 263 1,144 281 184 130 349 98 174 120
Telenor - Pakistan 638 966 208 1,249 341 182 199 603 120 215 124
Uninor - India - - - - - 424 2,076 1,196 712 364 198
Broadcast 1,398 323 322 322 245 228 317 1,151 116 223 211
Other operations 179 362 453 295 183 134 169 250 122 252 50
Eliminations (4) (5) (2) (6) (2) (2) (5) - (2) (2) (2)
Total capex 4,750 5,982 3,514 6,373 2,996 3,008 4,536 5,567 2,468 3,311 2,384
Capex from continuing operations 4,640 5,807 3,228 6,246 2,921 2,916 4,430 5,455 2,383 3,220 2,302

Investments in businesses
Telenor Group 2008 2009 2010
(NOK in millions) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Telenor - Norway - - 212 29 5 - 0 3 - - 3
Telenor - Sweden 11 - 1 - - - 1 - - - -
Telenor - Denmark - - - - - 111 - - - - -
Telenor - Hungary - - - - - - - - - - -
Telenor - Serbia - - - - 31 - - - - - -
Telenor - Montenegro - - - - - - - - - - -
DTAC - Thailand 9 14 2 1 - - - - - - -
DiGi - Malaysia - - - - - - - - - - -
Grameenphone - Bangladesh - - - - - - - - - - -
Telenor - Pakistan - - - 95 - - - - - - -
Uninor - India - - - - - 17 - - - - -
Broadcast - 25 - 19 88 - 73 69 0 1,099 -
Other operations 1,378 37 8 25 44 32 21 9 13 4 27
Eliminations - - - - - - - - - - -
Total investments in businesses 1,398 76 223 169 168 160 95 81 13 1,103 30

The tables include investments from discontinued operations prior to their disposal
Analytical information
2008 2009 2010
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Mobile - Norway
No. of mobile subscriptions (in thousands) 2,732 2,783 2,843 2,881 2,888 2,917 2,967 2,991 3,001 3,032 3,071
- of which prepaid 832 819 821 813 795 785 782 761 748 751 742
Average traffic minutes per subscription per month (AMPU) in the quarter 209 224 211 216 219 225 221 228 224 232 220
Average revenue per subscription per month (ARPU) in the quarter 304 319 316 302 296 310 317 307 305 309 308
- of which contract 394 408 401 381 371 386 392 379 374 378 373
- of which prepaid 107 112 110 104 101 108 109 103 98 102 106
Mobile - Sweden
No. of mobile subscriptions (in thousands) 1,853 1,884 1,837 1,900 1,912 1,946 1,958 1,970 1,978 2,008 2,053
- of which prepaid 470 463 361 364 341 337 327 316 309 311 319
Average traffic minutes per subscription per month (AMPU) in the quarter 199 221 208 218 211 227 221 218 224 240 231
Average revenue per subscription per month (ARPU) in the quarter 235 243 233 237 214 227 224 218 214 223 225
- of which contract 302 306 286 279 252 261 257 249 245 254 255
- of which prepaid 47 51 63 65 52 72 65 61 54 56 60
Mobile - Denmark
No. of mobile subscriptions (in thousands) 1,683 1,728 1,783 1,813 1,833 1,965 2,018 2,038 2,075 2,114 2,075
- of which prepaid 600 620 664 685 690 801 831 809 818 847 789
Average traffic minutes per subscription per month (AMPU) in the quarter 193 204 190 195 192 191 180 189 188 188 179
Average traffic minutes per subscription per month (AMPU) in the quarter 226 230 230 251 246 240 225 213 205 198 194
- of which contract 280 278 286 321 315 308 297 277 266 256 251
- of which prepaid 133 143 132 135 132 135 122 118 112 109 107
Hungary
No. of mobile subscriptions (in thousands) 3,329 3,337 3,394 3,644 3,504 3,482 3,441 3,501 3,465 3,428 3,413
- of which prepaid 2,023 2,003 2,006 2,191 2,030 1,994 1,948 1,955 1,885 1,832 1,792
Average traffic minutes per subscription per month (AMPU) in the quarter 163 178 179 170 160 170 170 174 173 184 185
Average revenue per subscription per month (ARPU) in the quarter 130 141 157 146 118 125 133 126 107 109 109
- of which contract 227 240 265 247 202 205 215 201 179 175 171
- of which prepaid 66 72 80 74 56 61 66 62 49 53 55
Telenor - Serbia
No. of mobile subscriptions (in thousands) 2,730 2,722 2,777 2,844 2,863 2,831 2,862 2,843 2,889 2,882 2,984
- of which prepaid 2,037 1,988 2,011 2,040 2,027 1,973 1,978 1,926 1,936 1,914 1,971
Average traffic minutes per subscription per month (AMPU) in the quarter 88 93 94 103 95 123 124 137 120 138 144
Average revenue per subscription per month (ARPU) in the quarter 79 88 98 91 77 82 88 74 65 66 72
- of which contract 159 176 196 177 150 159 167 135 118 121 129
- of which prepaid 53 57 61 57 48 50 53 46 40 39 42
Montenegro
No. of mobile subscriptions (in thousands) 460 521 533 431 413 436 503 465 432 447 519
- of which prepaid 377 430 434 322 305 326 396 355 321 331 403
Average traffic minutes per subscription per month (AMPU) in the quarter 130 125 120 128 131 147 130 130 122 143 145
Average revenue per subscription per month (ARPU) in the quarter 116 114 118 124 123 135 135 102 91 103 113
- of which contract 239 239 235 224 200 216 218 194 166 173 184
- of which prepaid 88 86 93 96 97 106 106 74 66 78 91
DTAC - Thailand
No. of mobile subscriptions (in thousands) 16,656 17,433 18,213 18,682 18,945 19,200 19,271 19,657 20,288 20,640 20,936
- of which prepaid 14,565 15,246 15,863 16,212 16,602 16,822 16,939 17,366 17,996 18,334 18,623
Average traffic minutes per subscription per month (AMPU) in the quarter 363 333 317 308 303 291 291 321 324 306 328
Average revenue per subscription per month (ARPU) in the quarter 59 50 48 55 54 50 49 47 48 51 51
- of which contract 129 108 102 112 115 113 109 106 112 121 127
- of which prepaid 49 42 40 46 45 42 40 39 40 42 42
DiGi - Malaysia
No. of mobile subscriptions (in thousands) 6,553 6,637 6,803 7,062 7,155 7,230 7,393 7,720 7,947 8,105 8,247
- of which prepaid 5,778 5,787 5,827 5,962 5,989 6,054 6,193 6,485 6,677 6,779 6,865
Average traffic minutes per subscription per month (AMPU) in the quarter 203 211 221 220 212 210 228 227 225 242 241
Average revenue per subscription per month (ARPU) in the quarter 96 93 95 110 105 99 96 88 93 101 103
- of which contract 144 143 143 167 158 151 150 139 143 161 160
- of which prepaid 90 86 87 100 95 89 86 80 83 90 91
Grameenphone - Bangladesh
No. of mobile subscriptions (in thousands) 17,805 20,308 20,829 20,993 21,057 21,163 21,985 23,259 23,904 26,456 28,655
- of which prepaid 17,386 19,880 20,413 20,607 20,668 20,767 21,590 22,862 23,499 26,037 28,237
Average traffic minutes per subscription per month (AMPU) in the quarter 259 319 319 332 327 301 303 292 288 291 275
Average revenue per subscription per month (ARPU) in the quarter 22 19 19 26 25 24 22 20 20 22 20
- of which contract 80 66 59 79 76 73 69 66 67 71 69
- of which prepaid 21 18 18 25 24 23 21 19 19 21 19
Telenor - Pakistan
No. of mobile subscriptions (in thousands) 16,702 18,125 18,472 19,388 19,985 20,893 21,659 22,501 23,279 23,798 23,836
- of which prepaid 16,561 17,970 18,307 19,320 19,894 20,776 21,542 22,357 23,110 23,605 23,632
Average traffic minutes per subscription per month (AMPU) in the quarter 163 165 146 155 155 163 156 173 178 186 175
Average revenue per subscription per month (ARPU) in the quarter 22 19 15 19 19 18 16 15 15 17 15
- of which contract 51 41 35 61 82 78 75 64 57 60 57
- of which prepaid 22 18 15 19 18 18 15 15 15 16 15
Uninor - India
No. of mobile subscriptions (in thousands) - - - - - - - 1,008 2,155 3,873 7,918
- of which prepaid - - - - - - - 1,008 2,155 3,873 7,918
Associated companies
No. of mobile subscriptions (100% in thousands) 75,948 76,984 81,146 84,522 85,437 85,820 87,548 86,062 87,511 88,818 91,443
Telenor Group
No. of mobile subscriptions (Consolidated) 70,504 75,479 77,484 79,638 80,555 82,062 84,057 87,953 91,413 96,783 103,707
No. of mobile subscriptions (incl Associated Companies) 146,452 152,463 158,630 164,160 165,992 167,882 171,605 174,015 178,924 185,601 195,149

FIXED - Norway
Retail market
No. of Telephony subscriptions (in thousands) 1,358 1,338 1,320 1,299 1,271 1,242 1,215 1,190 1,158 1,135 1,111
- of which PSTN subscriptions 879 866 854 840 823 806 792 778 762 748 734
- of which ISDN subscriptions 347 337 327 317 304 293 283 271 258 249 240
- of which VoIP subscriptions 132 135 139 142 144 143 140 140 138 138 136
No. of xDSL subscriptions (in thousands) 641 642 646 644 639 632 626 619 612 611 602
Wholesale market
No. of Telephony subscriptions (in thousands) 247 238 230 220 216 213 207 200 196 191 185
- of which PSTN subscriptions 168 162 157 151 149 147 143 139 136 133 130
- of which ISDN subscriptions 79 76 73 70 68 67 64 62 60 58 56
No. of xDSL subscriptions (in thousands) 132 123 116 106 98 90 87 85 84 82 80
No. of LLUB (in thousands) 348 356 356 356 356 355 348 338 329 322 314
FIXED - Sweden
No. of xDSL subscriptions (in thousands) 468 456 446 438 427 413 403 388 379 368 356
No. of LAN subscriptions (in thousands) 183 181 182 182 183 183 185 186 187 188 189
No. of VoIP subscriptions (in thousands) 209 212 219 224 233 242 247 248 251 252 251
No. of PSTN subscriptions (in thousands) 241 230 225 214 205 197 185 171 161 155 145
FIXED - Denmark
No. of xDSL subscriptions (in thousands) 278 280 282 272 268 263 262 259 256 251 245
No. of VoIP subscriptions (in thousands) 107 116 125 134 133 131 132 128 128 127 124
No. of PSTN subscriptions (in thousands) 235 224 208 192 176 161 152 143 138 134 145

BROADCAST
No. of television subscribers in the Nordic region (in thousands)
- DTH pay TV subscribers 1,124 1,121 1,125 1,113 1,096 1,079 1,071 1,060 1,054 1,039 1,025
- Cable TV subscribers 710 734 741 746 739 732 732 729 721 713 717
- of which in Norway 442 466 474 476 473 471 474 477 479 480 483
- of which in Sweden 235 235 233 235 231 226 223 217 212 202 203
- of which in Denmark 33 33 34 35 35 35 35 35 30 31 31
- Cable TV Internet access 140 149 170 188 204 216 231 246 257 262 270
- of which in Norway 121 130 147 164 180 193 207 223 234 239 248
- of which in Sweden 3 3 3 3 3 3 3 3 3 2 2
- of which in Denmark 16 16 20 21 21 20 21 20 20 21 21

GROUP
No. of man-years 29,957 30,693 30,833 31,702 32,118 32,069 32,657 33,181 33,154 32,858 32,513
- of which outside Norway 22,740 23,678 23,786 24,622 25,033 25,043 25,543 26,143 26,122 25,908 25,578
No. of employees 31,139 31,831 31,883 32,904 33,239 33,260 33,920 34,301 34,242 33,883 33,600
- of which outside Norway 23,701 24,572 24,611 25,496 25,912 25,940 26,462 26,908 26,838 26,608 26,286
Avg. exchange rates YTD
Telenor group 2008 2009 2010
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

Norway USD/NOK 5.3183 5.1988 5.2568 5.6361 6.8701 6.6889 6.4869 6.2816 5.8616 6.0424 6.0857
Europe EUR/NOK 7.9555 7.9485 7.9873 8.2194 8.9472 8.8977 8.8422 8.7285 8.1019 8.0093 7.9906
Denmark DKK/NOK 1.0674 1.0660 1.0710 1.1024 1.2008 1.1944 1.1873 1.1722 1.0886 1.0762 1.0733
Sweden SEK/NOK 0.8464 0.8478 0.8488 0.8548 0.8185 0.8192 0.8261 0.8223 0.8148 0.8180 0.8286
Bangladesh BDT/NOK 0.0775 0.0758 0.0767 0.0822 0.0997 0.0970 0.0940 0.0910 0.0846 0.0872 0.0878
Hungary HUF/NOK 0.0307 0.0314 0.0323 0.0327 0.0305 0.0307 0.0312 0.0312 0.0302 0.0295 0.0291
Pakistan PKR/NOK 0.0859 0.0808 0.0779 0.0796 0.0863 0.0835 0.0802 0.0771 0.0693 0.0714 0.0716
Ukraine UAH/NOK 1.0533 1.0572 1.0856 1.0794 0.8465 0.8390 0.8083 0.7807 0.7318 0.7585 0.7660
Malaysia MYR/NOK 1.6472 1.6143 1.6114 1.6850 1.8939 1.8633 1.8189 1.7809 1.7402 1.8288 1.8730
Thailand THB/NOK 0.1716 0.1644 0.1623 0.1703 0.1944 0.1909 0.1871 0.1829 0.1783 0.1852 0.1886
Serbia RDS/NOK 0.0963 0.0973 0.0997 0.1010 0.0953 0.0947 0.0943 0.0929 0.0820 0.0800 0.0785
India INR/NOK 0.1345 0.1282 0.1262 0.1294 0.1382 0.1358 0.1325 0.1298 0.1277 0.1319 0.1322