Trades by primary insiders

The following primary insiders in Telenor ASA have on 12 May
2016 acquired Telenor shares in connection with a long-term
incentive programme for employees, at a price of NOK 135.06
per share.

Acquired shares/updated shareholding:

- Wenche Agerup 2,829 / 3,692
- Jon Gravråk 2,776 / 2,776
- Jesper Hansen 371 / 18,620*

*) The shareholding has been corrected for an error in
incoming balance when Hansen became a member of the Group
Executive Management on 12 October 2015. All trades have
been reported correctly.