Shareholders as of 31 January 2017

Major shareholders from beneficial ownership

As of 31 December 2016

Shareholder % of total No. of shares
Government of Norway 54.0% 810 264 928
Folketrygdfondet 4.9% 74 235 431
Lazard Asset Management 2.1% 31 126 657
Templeton Investment Counsel 2.0% 30 150 914
Deutsche Asset & Wealth Management Investment GmbH 1.7% 24 964 632
BlackRock Institutional Trust Company 1.2% 18 491 831
Thornburg Investment Management 1.0% 15 469 680
The Vanguard Group 1.0% 14 682 953
DNB Asset Management AS 1.0% 14 351 855
KLP Forsikring 0.8% 12 219 844
Storebrand Kapitalforvaltning AS 0.8% 11 692 093
Alecta pensionsförsäkring 0.7% 11 110 453
SAFE Investment Company Limited 0,7% 10 531 617
Danske Capital (Norway) 0.6% 9 313 986
State Street Global Advisors 0.6% 8 744 780
Nordea Funds Oy 0.6% 8 399 136
Capfi Delen Asset Management 0.5% 7 247 000
Acadian Asset Management LLC 0.5% 6 797 787
Numeric Investors LLC 0.4% 6 722 117
Pyrford International Limited 0.4% 6 386 189
Total 20 largest 75.45% 1 132 903 883
Others 24.55% 368 554 147
Total shares 100% 1 501 458 030

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 January 2017

Shareholder % of total No of shares
Government of Norway 53.97 810 264 928 NOR
Folketrygdfondet 4.9 73 541 191 NOR
State Street Bank NOM 2.5 37 601 944 USA
Clearstream Banking NOM 1.62 24 327 167 LUX
State Street Bank NOM 1.48 22 248 707 USA
The Northern Trust NOM 1.1 16 471 057 GBR
State Street Bank NOM 1.05 15 748 628 USA
J.P. Morgan Chase Bank NOM 0.99 14 866 993 USA
J.P. Morgan Chase Bank NOM 0.92 13 739 590 USA
State Street Bank NOM 0.87 13 119 311 USA
State Street Bank NOM 0.83 12 435 843 USA
The Northern Trust NOM 0.74 11 110 453 GBR
DNB 0.62 9 315 296 NOR
J.P. Morgan Chase Bank NOM 0.55 8 214 969 USA
State Street Bank NOM 0.48 7 228 671 USA
The Bank of New York NOM 0.47 7 089 071 NLD
KLP Aksjenorge 0.47 6 987 186 NOR
The Bank of New York NOM 0.44 6 639 267 USA
UBS NOM 0.41 6 155 499 CHE
J.P. Morgan Chase Bank NOM 0.35 5 311 241 GBR
Total 20 largest 74.76 1 122 417 012
Others 25.35 379 041 018
Total shares 100 % 1 501 458 030