Mandate given to buy back shares in conjunction with share programme for employees and executive compensation

Telenor ASA has today engaged DNB Carnegie, a part of DNB Bank ASA (“DNB Carnegie”) to conduct a buyback of own shares to be used in the Company’s share programmes for employees in Telenor Group and executive compensation element in 2026. The shares shall be used to meet obligations towards employees who participate in the Company’s general employee share purchase plan (ESP), and the executive compensation element: Salary Substitute as restricted shares.

The buyback will be conducted in a period lasting from 2nd to 6th of March 2026. The total purchase amount will be NOK 92,000,000. The maximum number of shares to be acquired is 1,840,000.

The buyback will be done on basis of authorisation granted at Telenor ASA’s Annual General Meeting on 21st May 2025. The authorisation is for buyback of up to 10,000,000 shares to be used in the share programmes and executive compensation element, at a share price of minimum NOK 50 and a maximum NOK 250. The Company currently holds 94,769 treasury shares.

This is information that Telenor ASA is obliged to make public pursuant to the EU Market Abuse Regulation and subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.

For further information, please see the minutes of the AGM and the Annual Report, both available at Telenor’s website:

https://www.telenor.com/investors/shareholder-centre/annual-general-meeting/annual-general-meeting-2025/