Letter from the CEO

In 2018 the number of devices connected to the web was 7 billion. By 2025, it's believed to be more than 75 billion. Digitalisation is changing the world fundamentally, and it will just accelerate in the coming decade, transforming societies and our everyday life. At the same time, the world around us quivers. After two years of a pandemic, we now face new and uncertain times after the Russian invasion of Ukraine, and in Myanmar the military still has the power one year after the takeover. The UNs Intergovernmental Panel on Climate Change (IPCC) has issued a "code red for humanity", and many of us wonder what kind of earth we are leaving behind for our children and grandchildren.

As we navigate this shifting world, I'm certain businesses and private actors need to step up and take responsibility. It means being a force for good, driven by values and principles in uncertain and challenging times - brought on by the climate crisis or by conflict. It also means taking responsibility to unleash the potential for millions of people, by providing new solutions and opportunities through digitalisation and new technologies. For Telenor, it means being a trusted partner for our customers and the societies where we operate.

Telenor believes connectivity is something fundamentally good. Throughout the pandemic, it enabled millions of children to learn virtually and ensured that we could work safely and socially distanced. Access to open and transparent communication services is key to any free democracy, and if we put our minds to the task, new and green technology can be a way out of the climate crisis. We also believe digitalisation can provide fantastic opportunities for people and businesses. As digitalisation accelerates, and 5G and new technologies come together, we want our customers to share in the value creation. That's why in 2021 we took the first steps beyond connectivity. Delivering world-class connectivity is still at the core of what we do. But to serve our customers even better, we believe we can add services and value. For example, in the Nordics we have started rolling out safe services that help protect against fraud, dangerous websites and ID theft.

Our business customers need a partner to navigate new possibilities coming from 5G, IoT and AI, and we believe we can help them navigate these complex technologies to work seamlessly and reliably together. For example, in Malaysia, where we deliver port operations with 5G and AI. We believe this shift to be a growth opportunity for us as a company - both in delivering connectivity as a service and to meet new customer demand with services beyond connectivity. We are not alone in going beyond connectivity. This past year we've entered partnerships with Google Cloud, Amazon Web Services and renewed our partnership with Cisco, all to be able to add value for our customers.

In recent years, we have prepared well, modernising our infrastructure, our organisation and the way we work. To further deliver for our customers in a digitalised world, we also need to become fully digital ourselves. That's why we have taken leaps in fast-forwarding our digital transformation in setting new and ambitious targets for automating our operations and working towards self-service enabled customer interaction.

I'm a firm believer that companies of the future are sustainable and responsible. In 2021, together with other ICT companies, we started an initiative to work for more clean energy in countries that today rely too heavily on fossil fuels. Last year, we increased focus on emissions from our supply chain, stating that nearly 70 per cent of our suppliers shall set science-based targets within 2025. I believe this is the way forward. We can create green synergies by cutting our emissions and demanding that the people we do business with do the same.

To be a trusted partner for our customers in a new digital decade, we need muscles. That's why we entered two mergers in Asia last year. The new companies in Thailand and Malaysia will have the power and scale to unleash new opportunities for our customers in the tremendous digital transformation happening in the region.

I believe values and principles guide a trusted partner. In a complex world, that doesn't come without dilemmas. In 2021, Telenor faced its most difficult challenge ever following the military takeover in Myanmar. The deteriorating situation and conflict with our values, Norwegian law and international law made Telenor’s continued presence in Myanmar impossible. I am proud of the impact we have created through delivering communication services to the people of Myanmar and devastated that the story has ended here. Our thoughts are with the people of Myanmar.

The employees are Telenor’s most valuable resource. They are the ones ensuring innovation as we move beyond connectivity and the ones meeting our customers every day. That's why we will continue our focus on up-skilling and re-skilling our digital skillset. Telenor’s vision is to empower societies and connect you to what matters most. Doing it will look different in the next decade than in the past. We believe the shifting world around us needs companies to step up and take responsibility. For Telenor, that means being a partner you can trust. We want to make the digital shift green, safe, and for everyone - all while advancing societies around us with new services and world-class connectivity to give you, as our customer, more value in your digital life.

Sigve Brekke, President & CEO Telenor Group