Group 1 - Telenor Group will present its fourth quarter 2025 results on February 6, 2026, at 09:00 CET [1] - The presentation will be conducted by Group CFO Torbjørn Wist due to the temporary absence of Group CEO Benedicte Schilbred Fasmer [1] - The presentation will be available via webcast only, with no live Q&A participation [1] Group 2 - Media are invited to attend the quarterly results presentation at Telenor's headquarters, followed by one-on-one interviews starting at approximately 10:15 CET [2] - Additional information for media inquiries can be obtained by emailing thomas.midteide@telenor.com [2]

Group 1 - Infosys Limited is recognized as a strong growth stock, particularly following its recent collaboration with Telenor Shared Services to modernize HR operations [1][3] - The collaboration focuses on implementing an Oracle Fusion Cloud Human Capital Management solution to standardize HR processes and enhance employee productivity and experience [2][3] - Infosys leverages its expertise in Oracle Cloud HCM implementations to streamline processes and utilize embedded AI and cloud technology for improved efficiency [3] Group 2 - Infosys provides a range of services including consulting, technology, outsourcing, and digital services across various regions including North America, Europe, and India [4]

Market Outlook - The Chief Investment Officer at Truist Wealth, Keith Lerner, indicated that fears regarding a government shutdown are currently muted, with investors not overly concerned [1] - Historically, during the 20 past shutdowns, the S&P 500 has remained flat and increased 50% of the time, suggesting that short-term volatility should not prompt drastic portfolio changes [1][2] - The upcoming earnings season, starting in two weeks, is expected to be a significant market driver [1] Economic Impact - Concerns about stagflation are present, with Moody's indicating that each week of shutdown could impact quarterly GDP by approximately 0.1% [2] - Despite the shutdown, the Atlanta GDP estimate for the quarter remains around 3.9%, indicating that the shutdown may not drastically alter economic conditions [2] - The shutdown adds to economic uncertainty in the short term, complicating the overall outlook due to less available data [2] Sector Focus - The primary theme for the firm's bullish market outlook is centered on AI and technology, which are expected to continue strong profit growth despite the government shutdown [3] - The technology sector has seen a 30% increase over the past year, which is not indicative of a bubble, as true bubbles typically exhibit closer to 100% year-over-year growth [3] Growth Stocks - A list of the 12 best growth stocks to buy now has been compiled, focusing on those popular among elite hedge funds and analysts [4][6] - The methodology involved using the Finviz stock screener to identify top growth stocks, ranked by the number of hedge fund holders as of Q2 2025 [6][7] Company Highlights - **Infosys Limited (NYSE:INFY)**: Collaborating with Telenor Shared Services to modernize HR operations through Oracle Fusion Cloud HCM, enhancing employee productivity and experience [9][10][11] - **LiveRamp Holdings Inc. (NYSE:RAMP)**: Launched new AI capabilities, including agentic tools and segmentation, to improve customer outcomes and enable secure data collaboration [12][13][14]

Core Insights - Telenor Group reported strong second-quarter results for 2025, leading to an increased EBITDA outlook for both the Nordics and the Group overall [1][3] - The company is enhancing its position in the Nordic fibre market with significant investments, including a NOK 1.4 billion investment in Finland and a NOK 6 billion acquisition of GlobalConnect's consumer business in Norway [1][8] Financial Performance - Telenor achieved a year-over-year organic growth of 2.9% in service revenues and 8.3% in EBITDA during the second quarter [2] - The Nordic segment was the primary driver, with an impressive 12.5% organic growth in adjusted EBITDA [2] - For the first half of 2025, adjusted EBITDA reached NOK 18.0 billion, with free cash flow before M&A at NOK 4.6 billion [3] Regional Highlights - In the Nordics, Telenor experienced a 3.7% organic growth in service revenues [4] - Telenor Norway outperformed expectations with a 3.7% growth in service revenues and a 16.1% increase in adjusted EBITDA [5] - Telenor Pakistan reported a robust 15.0% growth in service revenues, while Grameenphone maintained good performance despite market challenges in Bangladesh [6] Strategic Investments - Telenor plans to upgrade DNA's broadband infrastructure to an all-fibre network in Finland by 2028, with an investment of approximately NOK 1.4 billion [7] - The acquisition of GlobalConnect's consumer business, valued at NOK 6 billion, includes fibre infrastructure and around 140,000 fibre customers [8] - These investments are expected to create synergies and enhance customer experiences across the telecom market [9] Future Outlook - The Nordic business anticipates mid-single-digit organic growth in EBITDA, with capex expected to account for around 14% of revenues [15] - Free cash flow before M&A is projected to be around NOK 13 billion [15]

Core Viewpoint - Telenor Group has agreed to sell its 50% stake in Allente to Viaplay for SEK 1.1 billion, marking a strategic shift as Allente aligns better with Viaplay's strategy than Telenor's [1][2][3] Group 1: Transaction Details - The sale involves a total consideration of SEK 1.1 billion for Telenor's stake in Allente, which has an enterprise value of SEK 3.1 billion [1][3] - Allente, formed in May 2020 from the merger of Canal Digital and Viasat, serves residential and business customers across the Nordics [1] - The transaction is expected to close within six to nine months, pending regulatory approvals in Norway, Sweden, and Denmark [4] Group 2: Performance and Future Outlook - Since its inception, Allente has distributed SEK 4.4 billion in dividends to its owners, demonstrating strong financial performance [3] - Both Telenor and Viaplay express confidence in the future of Allente under Viaplay's full ownership, aiming to enhance its offerings and customer experiences [2][4]

Core Insights - Telenor Group has demonstrated resilience by increasing revenues during a period of global economic instability, attributed to fast-changing tariffs and geopolitical turmoil [1][2] - The company has identified new business opportunities in the Nordics despite the unpredictable economic environment [1] Financial Performance - In the first quarter, Telenor achieved a year-over-year organic growth in service revenues of 2.1% and organic EBITDA growth of 2.0% [2] - Service revenues for the quarter amounted to NOK 16.1 billion, with adjusted EBITDA reaching NOK 8.6 billion [11] - Free cash flow before M&A was NOK 3.0 billion, driven by strong EBITDA and favorable working capital timing [9][11] Regional Performance - In the Nordics, Telenor reported 2.3% organic growth in service revenues and 5.8% organic EBITDA growth, supported by efficiency initiatives [3] - Norway's new customer-friendly handset solution and fraud-call alerts have been positively received, while Finland remains the top-performing market with 9% adjusted EBITDA growth [4] Strategic Initiatives - Telenor is leveraging geopolitical turbulence to create value, securing a ten-year contract for military communications technology in Sweden and Finland [6] - The launch of Telenor AI Factory, Norway's first fully integrated generative AI platform, has garnered customer interest, with plans to quadruple GPU capacity by year-end [7] Future Outlook - The company anticipates low single-digit organic growth in Nordic service revenues and mid-single-digit organic growth in EBITDA for the Nordic business [12] - Telenor aims for a free cash flow of around NOK 13 billion before M&A for the current year [13]