20 largest shareholdings

Major Shareholders from beneficial ownership

As of 31 December 2014

Shareholder % of total No. of shares
1 Government of Norway 53,97 % 810 264 928
2 Folketrygdfondet 4,72 % 70 838 833
3 Templeton Investment Counsel, L.L.C. 1,73 % 26 039 298
4 Alecta pensionsförsäkring, ömsesidigt 1,30 % 19 580 453
5 SAFE Investment Company Limited 1,25 % 18 772 938
6 BlackRock Institutional Trust Company, N.A. 1,18 % 17 762 921
7 Deutsche Asset & Wealth Management Investment GmbH 1,15 % 17 200 340
8 DNB Asset Management AS 0,99 % 14 818 068
9 UBS Global Asset Management (UK) Ltd. 0,80 % 11 980 074
10 KLP Forsikring 0,75 % 11 318 930
11 Wellington Management Company, LLP 0,74 % 11 132.584
12 The Vanguard Group, Inc. 0,70 % 10 545 268
13 Thornburg Investment Management, Inc. 0,67 % 10 018 028
14 William Blair & Company, L.L.C. 0,63 % 9 485 927
15 Storebrand Kapitalforvaltning AS 0,62 % 9 295 924
16 APG Asset Management 0,54 % 8 058 934
17 State Street Global Advisors (US) 0,54 % 8 050 762
18 Nordea Funds Oy 0,52 % 7 852 085
19 Danske Capital (Norway) 0,47 % 7 124.357
20 Legal & General Investment Management Ltd. 0,47 % 7 010 368
Total 20 largest 73,74 % 1 107 151 020
Others 26,26 % 394 307 010
Total shares 100,00 % 1 501 458 030

The data is provided by Thomson Reuters and is obtained through an analysis of beneficial ownership and fund manager information provided in replies to disclosure of ownership notices issued to all custodians on the Telenor VPS share register. Every reasonable effort has been made to verify the data, however neither Telenor nor Thomson can guarantee the accuracy of the analysis.

Major shareholders from shareholder register

As of 31 January 2014

Shareholder % of total No of shares
NÆRINGS- OG FISKERIDEPARTEMENTET 53,97 810 264 928 NOR
FOLKETRYGDFONDET 4,73 70 962 397 NOR
CLEARSTREAM BANKING NOM 1,87 28 122 402 LUX
STATE STREET BANK &  S/A SSB CLIENT OMNI NOM 1,54 23 104 538 USA
The Northern Trust C  ACCOUNT TREATY ACCOU NOM 1,24 18 580 453 GBR
STATE STREET BANK AN  A/C CLIENT OMNIBUS F NOM 1,21 18 104 470 USA
STATE STREET BANK AN  A/C CLIENT OMNIBUS A NOM 1,19 17 830 013 USA
J.P. Morgan Chase Ba  A/C US RESIDENT NON NOM 1,04 15 585 932 USA
The Bank of New York  BNY MELLON NOM 0,96 14 455 652 USA
STATE STREET BANK AN  A/C WEST NON-TREATY NOM 0,88 13 287 659 USA
THE NORTHERN TRUST C  NON-TREATY ACCOUNT NOM 0,82 12 371 968 GBR
STATE STREET BANK &  A/C CLIENT FUND NUMB NOM 0,82 12 369 097 USA
J.P. Morgan Chase Ba  FBO HOLDERS OF DR NOM 0,78 11 693 256 USA
J.P. Morgan Chase Ba  NORDEA TREATY ACCOUN NOM 0,60 9 043 973 GBR
The Bank of New York  BNY MELLON A/C APG A NOM 0,52 7 782 579 NLD
The Bank of New York  BNY MELLON NOM 0,48 7 155 572 USA
KLP AKSJE NORGE INDE 0,45 6 737 585 NOR
STATE STREET BANK AN  A/C CLIENT OMNIBUS D NOM 0,44 6 643 280 USA
UBS AG  A/C OMNIBUS-DISCLOSE NOM 0,38 5 637 442 CHE
RBC Investor Service  CLIENT TREATY ACCOUN NOM 0,37 5 583 550 GBR
Total 20 largest 74,29 % 1 115 316 746
Others 25,71 % 386 141 284
Total shares 100 % 1 501 458 030