TELENOR COMPLETES TRANCHE 1 OF SALE OF SHARES IN TRUE

(Fornebu, 13 March 2026)

Reference is made to the stock exchange announcement on 22 January 2026 regarding Telenor ASA’s agreement to sell shares in True Corporation Public Company Limited (“True”) to Arise Digital Technology Company Limited (“Arise”).

Telenor today confirms the completion of Tranche 1, comprising the sale of 24.95% of the shares in True for a total consideration of THB 100.9 billion. Today, THB 98.8 billion of this amount has been received, equivalent to approx. NOK 30 billion based on the current exchange rate, while THB 2.0 billion will be received within six months. Hedging arrangements to convert THB to other currencies in line with the proposed use of proceeds have been put in place.

Following completion of Tranche 1, Telenor holds a remaining 5.35% stake in True, subject to the previously communicated mutual put/call option arrangement.

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