Trade by primary insider

Henrik Clausen, Executive Vice President and Head of Digital
and Strategy in Telenor ASA, has on 3 June 2015 acquired 229
shares in Telenor, at a price of NOK 180.74 per share. The
acquisition is made in connection with reinvestment of
dividends received on shares related to a long-term
incentive programme and an employee share programme in
Telenor. After the transaction, Henrik Clausen (incl related
parties) holds 26,393 shares in Telenor.