CEO and Group Executive Management

• Appointed: 21 June 2002
• Stocks: 141,704 as of 22 February 2010
• Options: 100,000 as of 22 February 2010

Background: Jon Fredrik Baksaas was appointed President and CEO of Telenor in June 2002. The total number of subscriptions in Telenor Group's 13 mobile operations, increased from 21 million in June 2002 to 172 million by the end of 2009 (Q3). In terms of subscriptions, this makes Telenor Group one of largest mobile operator worldwide.

Prior to becoming the President and CEO, Jon Fredrik Baksaas served as Telenor's Deputy CEO, CFO and Executive Vice President with the overall responsibility for Telenor's networks and communication services in Norway. Norway is known as one of the world's most advanced countries within ICT usage. Before joining Telenor in 1989, Baksaas served as CFO in Aker AS, CFO in Stolt-Nielsen Seaway and held finance related positions in Det Norske Veritas (DNV) in Norway and Japan. Baksaas is currently a board member of Svenska Handelsbanken AB, the GSM Association and a member of the Advisory Council of Det Norske Veritas (DNV).

Education: Master of Science degree from the Norwegian School of Economics and Business Administration in Bergen. He has additional qualifications from IMD in Lausanne, Switzerland.

• Appointed: 1 March 2010
• Stocks: 0 as of 11 January 2010
• Options: 0 as of 11 January 2010

Background: Before taking up the position as CFO in Telenor Group, Aa served as Investment Director of Arendals Fossekompani ASA, a listed electrical utility and investment company. He has held various management positions in the metals and energy company Elkem, both in Norway and the USA, including the position as CFO of Elkem (1999 to 2005, when the company was listed). He has also been Managing Director of the listed investment company Norsk Vekst ASA (2005 to 2007) and Executive Vice President for business development in Bertel O. Steen AS (1997 to 1999).

Education: Master of Science in Business and Economics from the Norwegian School of Economics and Business Administration in Bergen, specializing in strategies and finance.

• Appointed: 1 March 2010
• Stocks: 0 as of 11 January 2010
• Options: 0 as of 11 January 2010

Background: Prior to joining Telenor Group, Kristin Skogen Lund has held various senior positions in the media group Schibsted, including Chief Executive Officer of Aftenposten AS, one of the largest newspapers in Norway. Before this, she held the position as CEO of the image bureau Scanpix Scandinavia (2003-2004), CEO of the Internet portal Scandinavia Online (1998-2002), in addition to various management positions in Unilever and Coca-Cola.

Kristin Skogen Lund holds several positions of trust. She is President in NHO (Confederation of Norwegian Enterprise), Board Member in Orkla ASA, the Norwegian Chamber Orchestra, and Council Member in the think tank Civita.

Education: Master of Business Administration from INSEAD in Fontainebleau, France, and a Bachelor of Arts in International Studies and Business Administration from University of Oregon, USA.

• Appointed: 1 September 2008
• Stocks: 22,860 as of 12 February 2010
• Options: 40,000 as of 10 November 2008

Background: Mr. Brekke joined the Telenor Singapore office in 1999 as Manager Business Development and later Managing Director. Mr Brekke served as co-Chief Executive Officer of dtac from 2002 to 2005, and Chief Executive Officer in dtac from 2005-2008. Prior to joining Telenor, Mr. Brekke has served as the Deputy Minister (State Secretary) of Defence in Norway in 1993, and has also held position as an associate research fellow at John F. Kennedy School of Government, Harvard University in the USA.

Education: Master of Public Administration, John F. Kennedy School of Government, Harvard University

• Appointed: April 2009
• Stocks: 35,742 as of 6 May 2010
• Options: 55,000 as of 4 August 2008

Background: Mr. Sørby joined Telenor in 1993 where he has held a number of senior positions, including Executive Vice President and head of the Nordic mobile and fixed network operations of Telenor, Deputy Chief Executive Officer of Telenor Mobile and General Manager of Telenor International AS. He has previously worked at Arthur Andersen & Co in Oslo, Norway.

Education: Master of Science in Business administration. He is a state licensed public accountant (Norway). He also has qualifications from the International Institute for Management Development, IMD, in Lausanne, Switzerland.

• Appointed: 1999
• Stocks: 98,813 as of 22 February 2010
• Options: 55,000 as of 22 February 2010

Background: Since joining Telenor in 1979, Mr. Thygesen has held various positions, including Chief Executive Officer of Sonofon, Executive Vice President and General Manager of Telenor Nordic Mobile, Executive Vice President of Telenor Mobil, President of Telenor Invest AS, Executive Vice President of Telenor Bedrift AS and President of Telenor Nett AS. He has also served as President of Esat Digifone and Televerket.

Education: Master of Science in Electronics and Telecommunications from the Norwegian Institute of Technology.

• Appointed: 27 August 2010