The Board of Directors ofTelenor ASA calls for an extraordinary general meeting to be held on26 January 2023 at16:30 CET . In the meeting, the Board of Directors will ask the General Meeting for a share buyback authorisation. The proposal for a share buyback authority relates to the agreement to divest 30% of Telenor Fiber AS in a transaction as described in stock exchange notice of7 October 2022 . The transaction will generate proceeds of approximatelyNOK 10.8 billion toTelenor . This transaction is in line with the strategy outlined onTelenor's Capital Markets Day in September last year, about value crystallisation in the infrastructure business. In addition to secure continued fibre roll out inNorway the Board of Directors intends to use parts of the proceeds for share buybacks. The buyback will be conducted by way of purchase of shares in the market. In a subsequent general meeting after the buyback has been completed, the company will propose redemption of the shares acquired as well as a redemption of a proportionate number of shares held by the Norwegian government such that the Government's ownership interest in the company remains unchanged. The authorisation has an upper limit of 3.4 % of the outstanding shares orNOK 4.3 billion , whichever is lowest, and will be valid until31 December 2023 . Investor relation contacts Øystein Myrvold +47 99 23 04 60Håkon Hatlevik +47 90 14 60 70
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