In the third quarter of 2019, the number of electricity deliveries increased by 11,892 in the Consumer segment and Business segment combined. The organic growth amounted to 2,274 electricity deliveries in the Consumer segment and 213 electricity deliveries in the Business segment. The additional growth is from the acquisition of Vesterålskraft Strøm. The number of electricity deliveries in the Consumer and Business segments at the end of Q3 2019 was 619,455. At the end of the third quarter 2019, Extended Alliance comprised 32,033 electricity deliveries. One new partner, Orkland Energi, is included in the Extended Alliance this quarter, while the customers of Vesterålskraft Strøm is now part of the Consumer and Business segments, following the recent acquisition. In total, the Group had 651,488 electricity deliveries at the end of the third quarter 2019. This is an increase of 21,679 electricity deliveries compared to the end of the third quarter 2018. "We are very satisfied with a growth of nearly twelve thousand electricity deliveries in the Consumer and Business segments this quarter, and the fact that we are growing both organically and through acquisitions is particularly satisfying. Through the acquisition of Vesterålskraft Strøm we get hold of the entire customer relationship, and not only the service offering we had through Extended Alliance" says Rolf Barmen, CEO of Fjordkraft. The number of mobile subscriptions grew by 11,177 in the third quarter of 2019, reaching a total of 92,271 subscriptions at the end of the period. "The launch of the mobile service has been a fantastic journey for us, and this is the highest quarterly growth in number of subscribers since the second quarter of 2017. This proves that we are an attractive challenger to the more established players in the industry" says Barmen. For queries, please contact: Morten A. W. Opdal, Head of Controlling and Investor Relations, +47 970 62 526

JPMorgan Asset Management Holdings Inc. ("JPMAMHI") has a notifiable interest in the share capital of Fjordkraft Holding ASA as a result of trades by its subsidiary JPMorgan Asset Management (UK) Limited. The total number of shares held by JPMAMHI on 20 September 2019 was 5,809,380 being 5.559% of the issued share capital and voting rights of the company. The equity holding in JPMAMHI crossed notification threshold of 5% on 20 September 2019. JPMorgan Asset Management Holdings Inc. ("JPMAMHI") crossed the 5% threshold as a result of its subsidiary JPMorgan Asset Management (UK) Limited purchasing 794,564 shares. Breakdown of holdings by JPMorgan Asset Management (UK) Limited Number of shares held: 5,809,380 (5.559%) CHAIN OF CONTROLLED UNDERTAKINGS Relationship of JPMorgan Asset Management Holdings Inc. to subsidiaries involved in the disclosure 1. The following hierarchy shows the relationship between JPMorgan Asset Management Holdings Inc. and its subsidiary JPMorgan Asset Management (UK) Limited JPMorgan Asset Management Holdings Inc. JPMorgan Asset Management International Limited (100%) JPMorgan Asset Management Holdings (UK) Limited (100%) JPMorgan Asset Management (UK) Limited (100%)

Q2 Highlights: -Strong YoY growth in net revenue adj. and EBIT adj. driven by strong price management and favourable market dynamics -Adjusted net revenue increasing 13% YoY -Adjusted EBIT increasing 26% YoY -Strong growth in number of mobile subscribers - passing 80 thousand and further strengthening our position as the largest mobile service provider without its own mobile network -Successful acquisition of Vesterålskraft Strøm AS. Transaction completed 1 July 2019 Another solid quarter driven by strong price management and favourable market dynamics The second quarter 2019 has been another solid quarter for Fjordkraft. Adjusted net revenue is increasing 13% YoY and adjusted EBIT is increasing 26% YoY. Strong price management in combination with favourable market dynamics are the most important factors behind the strong results. Temperatures in the quarter has been warmer than normal in two out of three months, and April was especially warm with 3.3 degrees Celsius above normal. While the higher than normal temperature negatively affects average volume per delivery, the total volume sold is still stable YoY. This is due to an increase in number of deliveries and shows the importance of growth when consumption is affected by external factors. The organic growth in the quarter amounted to 911 electricity deliveries in the Consumer and Business segments. We are still seeing some negative effects from the implementation of Elhub and given this, we are happy with our growth. Number of mobile subscribers grew by 9,446 in the quarter and is the highest quarterly growth since Q1 2018. There has been one new acquisition on the quarter - Vesterålskraft Strøm with around 8.6 thousand electricity deliveries. Through the transaction we get a new regional office in the northern part of Norway, enabling us to grow our market share in an unchartered territory for Fjordkraft. The transaction was completed on 1 July 2019 and will be included in the Company's figures from Q3. For more details, please see the enclosed report and presentation. For queries, please contact: Morten A. W. Opdal, Head of Controlling and Investor Relations, +47 970 62 526