Strong growth both organically and through M&A The number of electricity deliveries increased by 240,635 in the Consumer segment and Business segment combined. The growth is split between an organic growth of 5,225 electricity deliveries in the Consumer segment, 634 electricity deliveries in the Business segment, and the inclusion of Innlandskraft's deliveries as of quarter-end. The Consumer segment comprised 761,286 electricity deliveries at quarter-end and the Business segment comprised 104,259 electricity deliveries at quarter-end, a total of 865,545 deliveries. At the end of the third quarter 2020, Extended Alliance comprised 46,118 electricity deliveries, which is at the same level as in Q2. In total, the Group had 911,663 electricity deliveries at the end of the third quarter 2020. This is an increase of 260,175 electricity deliveries compared to the end of the third quarter 2019. The number of mobile subscriptions grew by 4,691 in the third quarter of 2020, reaching a total of 122,414 subscriptions at the end of the period. "It has been another good quarter, with strong growth both organically and through the recent acquisition, and we are very pleased with the development," says Rolf Barmen, CEO of Fjordkraft. For queries, please contact: Morten A. W. Opdal, Head of Controlling and Investor Relations, +47 970 62 526

Oslo, 24 September 2020. Reference is made to the stock exchange notice dated 23 September 2020 where Gudbrandsdal Energi Holding AS ("GEH") announced its contemplated sale of existing shares in Fjordkraft Holding ASA ("Fjordkraft"). GEH has today sold 2,013,423 shares in Fjordkraft at a price of NOK 89 per share. The shares were sold through an accelerated bookbuilding process managed by DNB Markets, a part of DNB Bank ASA. Following this transaction, GEH owns 7,682,161 shares in Fjordkraft, representing 6.7% of the issued share capital in Fjordkraft. GEH has entered into a customary 180 days lock-up for its remaining shares in Fjordkraft. Important Notice The distribution of this announcement and the offer and sale of the shares in certain jurisdictions may be restricted by law. The shares may not be offered to the public in any jurisdiction in circumstances which would require the preparation or registration of any prospectus or offering document relating to the shares in such jurisdiction. No action has been taken by the Manager nor any of its affiliates that would permit an offering of the shares or possession or distribution of this announcement or any other offering or publicity material relating to such securities in any jurisdiction where action for that purpose is required. Persons into whose possession this announcement comes are required to inform themselves about and to observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. This press release is for information purposes only and does not constitute or form a part of an offer to sell or a solicitation of an offer to purchase any security of the Company in the United States or in any other jurisdiction where such offer or solicitation is unlawful. The securities of the Company described in this press release have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or any applicable state or foreign securities laws and may not be offered or sold in the United States absent registration or an exemption from the registration requirements of the Securities Act. There will be no public offering of securities in the United States.

Oslo, 23 September 2020. DNB Markets, a part of DNB Bank ASA ("DNB Markets" or the "Manager") have been engaged by Gudbrandsdal Energi Holding AS ("GEH" or the "Seller") for a contemplated sale of up to 2,013,423 existing shares in Fjordkraft Holding ASA ("Fjordkraft" or the "Company"), representing around 1.8 percent of the issued share capital and voting rights in Fjordkraft (the "Transaction"). The Transaction will be structured as an accelerated book-building process. The book-building process will commence following the publication of this announcement and may be closed at short notice at the sole discretion of the Manager. Further announcements will be made following completion of the book-building. The minimum order and allocation have been set to a NOK equivalent of EUR 100,000. The Seller may, however, allocate amounts below EUR 100,000 to the extent exemptions from the prospectus requirement in accordance with applicable regulations, including the Norwegian Securities Trading Act and ancillary regulations, are available. The Seller reserves the right, at its sole discretion, to increase or reduce the number of offer shares or to sell no shares at all, depending on the price and the demand for shares. GEH currently holds 9,695,584 shares in the Company, representing 8.48% of the share capital in the Company. GEH will enter into a customary 180 days lock-up for its remaining shares in the Company not sold in the Transaction. Important Notice The distribution of this announcement and the offer and sale of the shares in certain jurisdictions may be restricted by law. The shares may not be offered to the public in any jurisdiction in circumstances which would require the preparation or registration of any prospectus or offering document relating to the shares in such jurisdiction. No action has been taken by the Manager nor any of its affiliates that would permit an offering of the shares or possession or distribution of this announcement or any other offering or publicity material relating to such securities in any jurisdiction where action for that purpose is required. Persons into whose possession this announcement comes are required to inform themselves about and to observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. This press release is for information purposes only and does not constitute or form a part of an offer to sell or a solicitation of an offer to purchase any security of the Company in the United States or in any other jurisdiction where such offer or solicitation is unlawful. The securities of the Company described in this press release have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or any applicable state or foreign securities laws and may not be offered or sold in the United States absent registration or an exemption from the registration requirements of the Securities Act. There will be no public offering of securities in the United States.