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    Siyi He • Citigroup Inc.

    Siyi He's questions to Telenor ASA (TELNY) leadership

    Siyi He's questions to Telenor ASA (TELNY) leadership • Q1 2025

    Question

    Siyi He of Citigroup asked about the weakening fixed broadband net additions in the Nordics and whether it would alter infrastructure investment plans. She also followed up on consolidation, questioning how Telenor would ensure synergies are not offset by negative market dynamics.

    Answer

    CFO Torbjorn Wist attributed the tough Q1 for fixed broadband to seasonality and aggressive fiber rollouts by competitors, confirming that Telenor continues to invest prudently. CEO Benedicte Fasmer addressed consolidation, stating that a three-player market often creates a healthy balance of competition and investment capacity, and they would only pursue deals with clear business sense.

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    Siyi He's questions to Telenor ASA (TELNY) leadership • Q3 2024

    Question

    Siyi He asked for an explanation of Telenor Norway's better-than-expected EBITDA performance, given OpEx reductions have not fully materialized, and questioned the sustainability of mobile ARPU growth in a low-inflation environment.

    Answer

    CEO Sigve Brekke attributed Norway's strong performance to successfully leveraging its superior network and security offerings through a "more-for-more" pricing concept, which has allowed for price increases while still adding subscribers. He noted that the full effects of OpEx reductions will become more visible in coming quarters and that value-added services will continue to support ARPU growth.

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