CEO and Group Executive Management

• Appointed: 21 June 2002
• Stocks: 165,194 as of 4 January 2012
• Options: 100,000 as of 22 February 2010

Background: Mr. Jon Fredrik Baksaas has been President and CEO of Telenor Group since June 2002. During this period, the total number of subscriptions in Telenor Group's mobile operations has increased from 21 million in June 2002 to 120 million in the beginning of 2011, 301 million including VimpelCom Ltd. Telenor Group at present has mobile operations in 11 markets and in additionally 20 markets through our ownership in VimpelCom Ltd.

Prior to becoming the President and CEO, Baksaas served as Telenor’s Deputy CEO, CFO and Executive Vice President with the overall responsibility for Telenor’s networks and communication services in Norway, one of the world’s most advanced countries in ICT usage. Before joining Telenor in 1989, he served as CFO in Aker AS, CFO in Stolt-Nielsen Seaway and held finance related positions in Det Norske Veritas (DNV) in Norway and Japan. Baksaas is currently a board member of VimpelCom Ltd, Svenska Handelsbanken AB, GSMA Association and the Advisory Council of Det Norske Veritas (DNV).

Education: Mr. Baksaas holds a Master of Science degree from the Norwegian School of Economics and Business Administration and has additional qualifications from IMD in Lausanne, Switzerland.

• Appointed: 1 March 2010
• Stocks: 8,296 as of 21 February 2011
• Options: 0 as of 11 January 2010

Background: Before taking up the position as CFO in Telenor Group, Aa served as Investment Director of Arendals Fossekompani ASA, a listed electrical utility and investment company. He has held various management positions in the metals and energy company Elkem, both in Norway and the USA, including the position as CFO of Elkem (1999 to 2005, when the company was listed). He has also been Managing Director of the listed investment company Norsk Vekst ASA (2005 to 2007) and Executive Vice President for business development in Bertel O. Steen AS (1997 to 1999).

Education: Master of Science in Business and Economics from the Norwegian School of Economics and Business Administration in Bergen, specializing in strategies and finance.

• Appointed: 1 March 2010
• Stocks: 8,110 as of 21 February 2011
• Options: 0 as of 11 January 2010

Background: Prior to joining Telenor Group, Kristin Skogen Lund has held various senior positions in the media group Schibsted, including Chief Executive Officer of Aftenposten AS, the largest newspapers in Norway. Before this, she held the position as CEO of the image bureau Scanpix Scandinavia (2003-2004), CEO of the Internet portal Scandinavia Online (1998-2002), in addition to various management positions in Unilever and Coca-Cola.

Kristin Skogen Lund holds several positions of trust. She is President in NHO (Confederation of Norwegian Enterprise), the Norwegian Chamber Orchestra, and Council Member in the think tank Civita.

Education: Master of Business Administration from INSEAD in Fontainebleau, France, and a Bachelor of Arts in International Studies and Business Administration from University of Oregon, USA.

• Appointed: 14 September 2011
• Stocks: 22,183 as of 4 January 2012

Background: Tonne came to Telenor in 2007 from Norsk Hydro Oil & Energy, where she was head of Technology & Research. In Telenor she has served as Deputy Head of Telenor’s operations in Asia in 2010-2011 and as EVP Communications and CR prior to that. Hilde Tonne served in several managerial positions in Hydro from 2000-2007, and up until 1999 she held various positions in Saga Petroleum. She is currently on the Board of Det Norske Veritas, and she has earlier served on the Board of Statkraft ASA and Gassnova AS.

Education: Master of Science from the Norwegian Institute of Technology in Trondheim, Norway and RWTH Aachen in Germany.

• Appointed: 1 September 2008
• Stocks: 64,107 as of 4 January 2012
• Options: 40,000 as of 10 November 2008

Background: Mr. Brekke joined the Telenor Singapore office in 1999 as Manager Business Development and later Managing Director. Mr Brekke served as co-Chief Executive Officer of dtac from 2002 to 2005, and Chief Executive Officer in dtac from 2005-2008. Prior to joining Telenor, Mr. Brekke has served as the Deputy Minister (State Secretary) of Defence in Norway in 1993, and has also held position as an associate research fellow at John F. Kennedy School of Government, Harvard University in the USA.

Education: Master of Public Administration, John F. Kennedy School of Government, Harvard University

• Appointed: 14 September 2011
• Stocks: 13,044 as of 5 January 2012
• Options: 20,000 as of 14 September 2011

Background: She joined Telenor in 1988 as a Research Scientist. From 2000 to 2005 she was Executive Vice President and CTO of Telenor and also working Chair of Telenor R&D. In January 2005 she took up the position as Vice President and Head of Telenor Nordic Fixed with overall responsibility for the fixed network business in Norway. From 2002 to 2007 Berit Svendsen was a member of the European Commission / IST Advisory Group. She joined Conax as CEO in May 2008.

Education: Berit Svendsen holds an MSc in Electronics from the Norwegian University of Science and Technology (NTNU) (1988), and a Master of Technology Management from NTNU and Massachusetts Institute of Technology, USA (1995).

• Appointed: April 2009
• Stocks: 49,353 as of 4 January 2012
• Options: 55,000 as of 4 August 2008

Background: Mr. Sørby joined Telenor in 1993 where he has held a number of senior positions, including Executive Vice President and head of the Nordic mobile and fixed network operations of Telenor, Deputy Chief Executive Officer of Telenor Mobile and General Manager of Telenor International AS. He has previously worked at Arthur Andersen & Co in Oslo, Norway.

Education: Master of Science in Business administration. He is a state licensed public accountant (Norway). He also has qualifications from the International Institute for Management Development, IMD, in Lausanne, Switzerland.

• Appointed: 14 November 2011
• Stocks: 39, 854 as of 4 January 2012

Background: Mr. Kopperud joined Telenor in 1994 and has held a number of senior positions at Telenor, including Executive Vice President of Telenor Mobile AS, Managing Director at Telenor Global Services AS and Managing Director at Telenor Global AS.

Education: Master of Science in Computer Science from the Norwegian Institute of Technology and additional qualifications from Business Management studies at both the International Institute for Management Development, IMD, in Lausanne, Switzerland and INSEAD, Institut Européen d’Administration des Affaires.

• Appointed: 14 March 2011
• Stocks: 18,972 as of 8 April 2011

Background: Oddvar Hesjedal comes from the position as CEO of Grameenphone since November 2008. Oddvar also served as Grameenphone's Chief Technology Officer since June the same year. Prior to joining Grameenphone, he has held various top management positions within the Telenor Group, including the position as CTO and COO of Ukrainian mobile operator Kyivstar and head of R&D.

Education: Master degree in computer science from the University of Oslo