Oslo, 14 February 2020: Ice Group's smartphone service revenues grew by 36
percent and smartphone subscriptions grew by 29 percent in the fourth quarter
versus the same quarter last year. On-net traffic shares also continue to grow
for Ice Group, which is building a third nationwide mobile network in Norway. 

"2019 was a great year for Ice Group! We grew our customer base significantly,
increased our network footprint to now produce 80% of the data in our own
network, were awarded licences for the 700 and 2,100 MHz frequencies and
experienced increased support from the government through the proposed new
regulation of the Norwegian mobile market. We raised NOK 1.5 billion in equity,
sold our Swedish business, listed on Oslo Axess and raised a new NOK 0.9 billion
bond. We launched "Data Frihet", "Ice Junior" and "Mobilbytte", opened our two
first physical retail stores and were awarded prizes for mobile operator of the
year and excellent customer service. All in all, a break-through year we can
look back at with pride both from a customer and technology perspective," says
Eivind Helgaker, CEO of Ice Group.

Ice Group continues the smartphone growth path in Q4 and has now reached the 10%
market share milestone in Norway. In total 130,000 new customers were added in
2019, 18,000 in fourth quarter alone. Smartphone subscriptions increased 29
percent and smartphone revenues increased by 36 percent in this year's fourth
quarter versus the same period last year.

"We continue to roll out customer-friendly products as this is the key to
growing our consumer base. In Q4 we launched "IceUng", a very attractive
subscription for people below 24 years of age, with 10GB data of which 8GB in
Ice's own network. IceUng is a very solid example of the way our increasing
network coverage gives us the opportunity to roll out disruptive data products
at affordable prices. An expected on-net share approaching 90% through 2020
allows us to be even more competitive in the high ARPU segments through the
year," Eivind Helgaker adds.

In the fourth quarter, Ice had a good development in smartphone ARPU (average
revenue per user) which ended at NOK 234 for the quarter, the highest level
ever, up from NOK 224 in Q4 2018. This positive development in ARPU comes
despite the success of our ARPU-dilutive Ice Junior subscription. This shows
that Ice is currently taking market share in the higher paying segments and as
such delivering on the medium-term targets.

"Increased on-net share reduces leakage to external network and remains
essential to reaching our commercial and financial targets. This is a key reason
for investing in our 5G-ready Nokia smartphone network. We added 129 new
smartphone sites during the fourth quarter, bringing the average data on-net
share to a record high 80% in the quarter, up from 67% in the same quarter last
year. Average VoLTE (Voice over LTE) on-net share was 30% in the fourth quarter
this year, up from 6% last year. As a result, our NRA cost was 29% of smartphone
service revenues in the quarter, down from 35% in the corresponding period last
year," says Eivind Helgaker.

Total service revenues were up 20% in the fourth quarter versus the same period
last year. The adjusted EBITDA in the fourth quarter was NOK -34 million
representing an EBITDA adjusted margin of -7%, which is at the same level as
last year (NOK -36 million / -8%).

"Continued network-build out and smartphone subscription growth remain key to
realising Ice Group's business plan. We have now delivered 19 consecutive
quarters with smartphone subscription growth and remain confident that we will
continue to win market share and improve margins strongly going forward," adds
Eivind Helgaker.

A presentation of the third quarter results will be held today at 08:00 (CET) at
Hotel Continental, Stortingsgaten 24/26, Oslo, Norway. The presentation can also
be followed through a live webcast from this link:
https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20200214_4 

A recording of the presentation will be available on our web site shortly after
the live webcast has ended.

Click here for more information

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