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Regulatory press release

Grameenphone - results for the fourth quarter 2025

Telenor
Telenor Group's subsidiary in Bangladesh, Grameenphone, has today announced its
results for the fourth quarter of 2025. Telenor's consolidated figures in NOK
million are as follows:

Q4 25 Q4 24
- Revenues 3,187 3,808
- Adjusted EBITDA 1,846 2,184
- Operating profit 1,108 1,239
- CAPEX excl. leases 149 282

Organic service revenues increased by 3.4%, and organic adjusted EBITDA
increased by 4.8%. During the quarter the number of subscriptions decreased by
1.7 million, of which 1.1 million was de-registered following regulatory changes
that limit the number of SIM cards a person can hold. The revenue impact of the
de-registrations was minor.
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