Telenor ASA has today engagedDNB Markets , a part ofDNB Bank ASA ("DNB Markets ") to conduct a buyback of own shares to be used in the Company's share programmes in 2024 for employees inTelenor Group . The shares shall be used to meet obligations towards employees who participate in the Company's long term investment incentive plan (LTI) and the employee share plan (ESP). The buybacks in 2024 will be divided into three tranches: Tranche 1 - ESP and LTI shares to be purchased in the period 27th to31st May 2024 . Total amount ofNOK 45.2 million . Tranche 2 - ESP shares to be purchased in the period 12th to16th August 2024 . Total amount ofNOK 8.9 million . Tranche 3 - ESP shares to be purchased in the period 11th to15th November 2024 . Total amount ofNOK 8.9 million . The maximum number of shares to be acquired in the above three tranches is 1,259,436. ESP purchases are subject to the following adjustments: - The amount to be invested by ESP-participants outsideNorway is defined in local currency, and the final NOK amount will be determined based on exchange rates on29 April, 31 July, and 30 October. - The amount will be adjusted downwards to reflect any leavers from the ESP program. The criteria for the adjustments are predefined in the mandate agreement withDNB Markets , henceTelenor cannot influence the determination of the final amount. The buyback will be done on basis of authorization granted atTelenor ASA's Annual General Meeting on7th May 2024 . The authorization is for buyback of up to 10,000,000 shares to be used in the share programmes, at a share price of minimumNOK 50 and a maximumNOK 250 . The authorization has not been utilized to date, and the Company currently holds 14,406,961 treasury shares, out of which 86,437 are related to the Company's share programmes. For further information, please see the minutes of the AGM and the Annual Report for 2023, both available atTelenor's website: https://www.telenor.com/investors/shareholder-centre/annual-general-meeting/annu al-general-meeting-2024/
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