Telenor Broadcast Q3 - 2008 October 29th Q3 2008 Broadcast Solid revenue growth and stable margin in Q3 Revenues (NOKm)/ EBITDA% 14% organic growth

2066 2 022 1898 1922 • 14% revenue growth in Broadcast 1776 1763 • 11% revenue growth in • 22% revenue growth in Transmission

& Encryption 26 % 25 % 24 % 21 % 22 % 16 % • + 21.000 cable internet subscribers in Q2 07 Q3 07 Q4 07 Q1 08 Q2 08 Q3 08 in Q3 EBITDA CAPEX • High demand for HDTV 1398 • Exit part of DTT Finland; 7,500 1144 subscribers sold to Plus TV in Finland.

489 462 443 423 359 403 327 281 329 323 322 254

Q2 07 Q3 07 Q4 07 Q1 08 Q2 08 Q3 08

Organic growth assuming fixed currency and adjusted for acquisitions and disposals. EBITDA and EBITDA margin before other items Broadcast Broadcast highlights

• Nordic subscriber base increased by +30,000 since Q3 2007

– Cable TV subscribers 741,000; +40,000

– Cable TV Internet subscribers 170,000; +56,000

– DTH subscribers 1,125,000; - 3,000

– Multiroom subscribers 175.000; +70,000

• Strengthening HD offering

– TVNorge HD launched

– BBC HD from Dec 1 st

– Beijing Olympics in HD

• Conax with 2 mill cards sold in Q3 (+0,7 mill from Q3 07)

Eurosport CANAL DIGITAL GROUP Canal Digital

Revenues (NOKm)/ EBITDA% Continuous good revenue growth 1633 1592 1497 1477 1442 1431 • 11 % revenue growth from Q3 2007 driven by higher sales of additional services on Cable, sale of hardware and price increases DTH

– Q2 08 includes resale of UEFA Euro 2008 content rights

• EBITDA reduction from Q3 07 due to higher 16 % 14 % 9 % 8 % 12 % costs related to CRM and logistics driven by 2 %

higher activity level and digitalisation for cable- Q2 07 Q3 07 Q4 07 Q1 08 Q2 08 Q3 08 TV EBITDA CAPEX • 232.000 Nordic DTH and cable subscribers with HDTV decoder per Q3 08, and hereof over 150.000 in Norway 234 203 188

• Continuous strong sale of Internet and Pay TV 142 128 132 for Cable driven by Norway 121 115 124 122 81 – Close to 150.000 cable internet subscribers in 40 Norway which is up by more than 50.000 since Q307 Q2 07 Q3 07 Q4 07 Q1 08 Q2 08 Q3 08 Canal Digital TV-services to more than 3 million households in the Nordic region

Monthly Households ARPU DTH 1,125,000 NOK 287 (NOK 264) Premium and Local-only subscribers (1,128,000) 867,000 Cable-TV 741,000 NOK 190 147,000 (896,000) (162,000) Basic Tier, Premium Pay-TV and Internet (701,000) (NOK 171) 1,155,000 (1,106,000) SMATV 1,157,000 NOK 42 Households in small antenna TV-networks (1,168,000) (NOK 38) DTT 39,000 NOK 198 Premium Pay-TV Subscribers in Finland (49,000) (NOK 186) BBTV/IPTV 5,000 NOK 186 Basic Tier, Premium Pay-TV (2,000) (NOK 187) 898,000 (884,000)

*in brackets: Q3 07 Transmission and encryption Transmission & Encryption Strong revenue growth and stable EBITDA margin Revenues (NOKm)/ EBITDA%

563 554 547 530 • 22 % revenue growth from Q3 2007

455 448

58 % 56 % • Revenue growth in Conax from Q3 07 driven by 53 % 54 % 56 % 55 % higher card sales in EMEA, India and South America Q2 07 Q3 07 Q4 07 Q1 08 Q2 08 Q3 08

EBITDA CAPEX • Higher revenue in Norkring from Q3 07 due to 1 249 both analogue and digital TV transmission

• Higher revenue in Telenor Satellite Broadcasting from Q3 07 driven by increased capacity related to Thor 5, and Thor 2 lease agreement 311 308 306 259 285 240 214 192 167 165 161

Q2 07 Q3 07 Q4 07 Q1 08 Q2 08 Q3 08