BKK AS ("BKK") has today sold 15,674,432 shares in Fjordkraft Holding ASA (the "Company" or "Fjordkraft"), representing 15.00 per cent of the share capital in the Company, at a price of NOK 42.50 per share. The shares were sold through an accelerated bookbuilding process managed by ABG Sundal Collier ASA. After the transaction, BKK owns 15,933,066 shares, representing 15.25 per cent of the share capital in the Company. BKK is represented on the Board of Directors in Fjordkraft. BKK has entered into a customary 90 days lock-up for its remaining shares in the Company. Contact: BKK AS Anne Marit Steen, CFO +47 90 91 95 79 anne.marit.steen@bkk.no

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN OR IN ANY JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. FKRAFT - Contemplated sale of up to approximately 15.67 million existing shares ABG Sundal Collier ASA (the "Manager") has been retained by BKK AS ("BKK") to explore the sale of up to approximately 15.67 million existing shares in Fjordkraft Holding ASA (the "Company" or "Fjordkraft"), representing 15% of the share capital in the Company (the "Placing"). The Placing is to be conducted as an accelerated bookbuilding process. The bookbuilding process will commence immediately following the publication of this announcement and may be closed at short notice at the full discretion of the Manager. A further announcement will be made following pricing of the shares in the Placing. BKK reserves the right, at its own discretion, to sell fewer shares or no shares at all. BKK currently holds 31,607,498 shares in the Company, representing 30.2% of the share capital in the Company. BKK is represented on the Board of Directors in Fjordkraft. BKK will enter into a customary 90 days lock-up for its remaining shares in the Company not sold in the Placing. Contact: BKK AS Anne Marit Steen, CFO +47 90 91 95 79 anne.marit.steen@bkk.no

The shares in Fjordkraft Holding ASA will be traded ex dividend NOK 2.2 as from today, 15 May 2019. The pay-out date will be on or about 24 May 2019. This information is subject to disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.