Financial outlook and ambitions

• Organic service revenues growth: 2-3% (previously: low single-digit)

• Organic EBITDA growth: 8-9% (previously: high single-digit)

• Capex/sales (excl. leases): Around 14% (unchanged)

• EBITDA growth growth: 5-6% (previously: mid single-digit)

• FCF before M&A: Around NOK 13 billion (unchanged)

Telenor Pakistan included in the 2025 outlook.
New spectrum and potential items relating to prior years’ activities (e.g. claims, late payments in Bangladesh, tax refunds) are not included in the outlook