Mobile Financial Services in Telenor Tine Wollebekk Global

Mobile Financial Services in Telenor Tine Wollebekk Global Head of Telenor Financial Service September 21 st 2015 1

With 246 mobile money services in 89 countries Mobile money is now expanding to more regions Number of live mobile money services for the unbanked by region (year end)

Yet very successful operations are still too few 9 Countries have more mobile money accounts than bank accounts 21 services have more than one million active customers

Mobile Financial Services for the unbanked P 2 P payments Government & aid disbursement Lending & Savings Insurance 4

Telenor is uniquely positioned to deliver Financial Services # of customers Nationwide distribution A strategy to serve everyone Accessible technology A pragmatic approach

4 basic building blocks in Mobile Financial Services Higher value services can be built from Agent or Online positions 6 Balance sheet 3 rd party E. g. Savings, Credit E. g. Insurance, Credit, Savings Agent driven services Digital payment E. g. Cash-in/out, bill payment, P 2 P, airtime E. g. Payment Service Provider, Wallet

Financial Services – industry development and our position Industry development Current positions • Mobile Money services taking off • Telenor FS Revenue of 0, 5 bn NOK in 2014 ‒ 57 markets have 2+ mobile money services • 19 m FS customers in 2015 ‒ Over 200 m mobile money accounts globally • FS established in 6 Asian and 3 European markets • Within Telenor footprint mobile money customers exp. to increase ~34% annually • Many mobile operators offering financial services • Pioneer in branchless banking in Pakistan and leading player. Currently 17 mill active customers • One of the largest online payment service providers (PSPs) in Thailand. And wallet position launched in 2014 • Mobi. Cash enables MFS for 6 bank partners; OTC P 2 P and Bill Pay. Currently 1 mill customers • Industry conversion as financial players and technology companies entering the mobile money space • Digi and Telenor Myanmar have established FS organizations – launch planned for 2015 in Myanmar and International remittance in Malaysia • Launch Payment Bank in India in 2016 with Indian partner • Regulations and increased competition drive need for partnerships and interoperability * OTC = Over the Counter, P 2 P= Peer to peer 7 • Telenor Banka launched first mobile and online bank in Serbia Sept 2014. 90. 000 customers in 11 monhs • Valyou, a JV with Dn. B in Norway, offering contact less (NFC based) payment launched in 2014

2020 vision: Telenor will enable everyone to transact conveniently on their mobile phones We will enable everyone to digitize money • Leveraging cash-in/-out at our points of sale • Enabling salary/fund disbursements • Facilitating P 2 P and international remittance We will enable payment everywhere • Digital payment online through app and PSP position • Digital payment at physical point of sale • Based on open wallet with various sources of fund We will enable financial services when they need it • Convenient micro-savings services • Micro-credit and installments based on credit scoring • Inspiration and relevant offers throughout the customer journey based on insight Financial Services shall have a significant stand-alone value for Telenor 8

The financial services opportunity is attractive Telenor’s Asian markets 2018: Total mobile money market value est. USD 4. 5 billion 9

10 Thank you