Reference is made to the Dhaka Stock Exchange notice from Telenor's 55.8%-owned
subsidiary Grameenphone earlier today where the company provided an update on Q1
2026 performance trends, stating that business momentum in the beginning of 2026
has been softer than anticipated.
 
Grameenphone noted that the significant disruption in global energy markets
caused by the situation in the Middle East has left Bangladesh particularly
exposed due to its reliance on imported fuels and LNG. This has resulted in
increased volatility in energy supplies, higher fuel import costs, and initial
signs of constraints in energy supplies and logistics across the country. While
the overall operating environment remains stable, these developments, which come
on top of a weak macro, have started to impact economic activity and consumer
behaviour, with early signs of pressure on mobility, business operations, and
disposable income. In addition, seasonal storms last week also caused power
outages in parts of Grameenphone's network. 

Against this backdrop, Grameenphone expects Q1 performance to be moderately
impacted. Compared to the same period last year, revenue is anticipated to be
around 2% lower, while EBITDA is expected to decline by around 3%. 
Grameenphone continues to actively monitor developments and implement mitigating
actions to safeguard service continuity and operational resilience, with a
particular focus on maintaining our leading network performance and supporting
customers and society during this period.

Telenor maintains its financial outlook for 2026, while closely monitoring the
implications of the war in the Middle East and the effective closure of Strait
of Hormuz, the duration and development of which will be key for the continued
assessment of the impact on the Bangladeshi economy, Grameenphone and Telenor. 

For further information: 
Frank Maaø, SVP Capital Markets and Investor Relations, +47 916 74 045
Thomas Midteide, SVP and Chief Communications Officer, +47 962 32 017