Completion of the Telenor Connexion Transaction

Fornebu, 10 September 2026. Reference is made to the stock exchange release dated 12 May 2026 regarding Telenor’s agreement with Verdane to establish a 50/50 joint venture for Telenor Connexion.

The transaction has now been completed.

As announced on 12 May 2026, Telenor has received approximately SEK 3.8 billion in upfront proceeds. The parties have agreed to provide funding of up to SEK 2 billion each to support the company’s value-accretive growth strategy. In addition, Telenor will receive a vendor note of approximately SEK 0.8 billion.

Following completion of the transaction, Telenor Connexion will be deconsolidated and accounted for as an associated company in Telenor Group. As disclosed in Telenor’s second quarter 2026 report, this is expected to reduce Telenor Group’s free cash flows before M&A by approximately NOK 0.2 billion in 2026.

For further details regarding the transaction, please refer to the original announcement published on 12 May 2026.

Investor and media contacts: David Fidjeland, Communications Director, mobile +47 93 46 72 24 Oscar J. Sperre, Investor Relations Manager, mobile +47 91 38 00 79

This information is subject to the disclosure requirements pursuant to section 5-12 of the Securities Trading Act.

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