Telenor ASA has today engaged DNB Markets, a part of DNB Bank ASA ("DNB
Markets") to conduct a buyback of own shares to be used in the Company's share
programmes in 2023 for employees in Telenor Group.

The shares shall be used to meet obligations towards employees who participate
in the Company's long term incentive programme (LTI) and the general employee
share plan (ESP).

The buyback will be conducted in a period lasting from 16th to 20th of January
2023. The total purchase amount will be NOK 80 million. The maximum number of
shares to be acquired is 1,600,000. 

The buyback will be done on basis of authorization granted at Telenor ASA's
Annual General Meeting on 11th May 2022. The authorization is for buyback of up
to 10,000,000 shares to be used in the share programmes, at a share price of
minimum NOK 50 and a maximum NOK 250. In 2022, 469 550 shares were acquired
under this authorization. Telenor ASA holds 592 treasury shares prior to the
buyback. 

For further information, please see the minutes of the AGM and the Annual Report
for 2021, both available at Telenor's website:
https://www.telenor.com/investors/general-meeting/

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