Major Shareholdings

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Major shareholders from beneficial ownership

As of 31 December 2017

Shareholder % of total  No. of shares
Government of Norway 54.3% 810 264 928
Folketrygdfondet 5.0% 74 036 496
Deutsche Asset Management Investment 1.8% 27 327 731
BlackRock Institutional Trust Company 1.6% 24 248 413
Templeton Investment Counsel 1.3% 19 964 471
The Vanguard Group 1.1% 17 056 918
Lazard Asset Management 1.1% 16 525 908
DNB Asset Management AS 1.0% 14 652 064
Alecta pensionsförsäkring 1.0% 14 631 857
Storebrand Kapitalforvaltning AS 0.8% 12 633 860
KLP Forsikring 0.8% 11 956 481
JPMorgan Asset Management U.K. 0.7% 10 687 554
SAFE Investment Company Limited 0.7% 10 099 149
Danske Capital (Norway) 0.6% 9 051 082
State Street Global Advisors (US) 0.6% 8 787 645
Allianz Global Investors 0.6% 8 566 316
APG Asset Management 0.6% 8 421 311
Acadian Asset Management 0.6% 8 246 604
Capfi Delen Asset Management 0.5% 7 251 500
INVESCO Asset Management Deutschland 0.4% 6 248 081
Total 20 largest 75.07 %       1 120 658 369,00
Others 24.93 %          380 799 661,00
Total shares 100 %       1 501 458 030,00

The data is provided by Nasdaq Advisory Services and is obtained through an analysis of beneficial ownership and fund manager information provided in replies to disclosure of ownership notices issued to all custodians on the Telenor VPS share register. Every reasonable effort has been made to verify the data, however neither Telenor nor Nasdaq Advisory Services can guarantee the accuracy of the analysis.

Major shareholders from shareholder register

As of 31 December 2017

Shareholder % of total No of shares
Government of Norway 53.97 810 264 928 NOR
Folketrygdfondet 4.93 74 036 496 NOR
CLEARSTREAM BANKING NOM 1.59 23 813 311 LUX
State Street Bank NOM 1.51 22 614 394 USA
State Street Bank NOM 1.29 19 367 087 USA
State Street Bank NOM 1.18 17 756 873 USA
State Street Bank NOM 1.02 15 366 791 USA
JPMorgan Chase Bank NOM 1.00 15 076 467 USA
ALECTA PENSIONSFORSA  Handelsbanken Custod 0.97 14 631 857 SWE
The Northern Trust NOM 0.89 13 348 766 GBR
State Street Bank NOM 0.82 12 348 901 USA
The Bank of New York NOM 0.69 10 383 632 NLD
JPMorgan Chase Bank NOM 0.59 8 906 757 USA
JPMorgan Chase Bank NOM 0.58 8 768 294 GBR
TELENOR ASA 0.58 8 738 593 NOR
State Street Bank NOM 0.51 7 650 196 USA
VERDIPAPIRFONDET DNB 0.49 7 424 468 NOR
KLP 0.47 7 066 302 NOR
INVESCO FUNDS 0.44 6 566 021 LUX
State Street Bank NOM 0.4 6 056 209 USA
Total 20 largest   73.92 1 110 186 343
Others   25.04 391 271 687
Total shares   100 1 501 458 030