Q2 Highlights: o Strong financial performance with a 15% YoY increase in net revenue and 26% YoY growth in EBIT adj. o Tailwind from favourable price development throughout Q1 and historically low prices in Q2 o Solid organic growth across all segments o Successful acquisition of Innlandskraft, Norway's 3rd largest retailer, in July - closing expected in September Another strong quarter One thing is certain - the electricity market is never boring. After a first quarter where elspot prices fell to a historically low level, the second quarter has been just as eventful. With continued all time low elspot prices throughout the quarter, and even negative prices at certain hours, it has truly been an unusual quarter. For Fjordkraft, this has been another strong quarter with a 15% YoY increase in adjusted net revenue and a 26% YoY growth in adjusted EBIT. The organic growth has been solid, and all business areas show a positive development. Volume sold is increasing 4% YoY due to organic growth and because two out of three months in the quarter were colder than last year. M&A has been a key element in Fjordkraft's strategy. It was therefore very pleasing to announce the acquisition of Innlandskraft in July 2020. Innlandskraft is Norway's 3rd largest retailer and the acquisition will strengthen Fjordkraft's position as the leading electricity supplier in Norway. Closing of the transaction is expected to take place in September 2020. Please find attached the quarterly report and quarterly presentation. The results will be audiocasted on 20 Aug 2020 at 08:00 on the following link: https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20200820_2 For queries, please contact: Morten A. W. Opdal, Head of Controlling and Investor Relations, +47 970 62 526

We hereby invite you to participate at the presentation of Fjordkraft Holding ASA's Q2 2020 results on Thursday 20 August 2020. Release: Time: Thursday 20 August 2020 at 07.00 CEST Interim report and presentation material will be released and made available on the investor relations pages at https://investor.fjordkraft.no/en/ Results Presentation: Time: Thursday 20 August 2020 at 08.00 CEST Due to the current corona situation, the presentation will be an audiocast only. The presentation will be audiocasted live at: https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20200820_2 The presentation will be held in English. The presentation will be held by CEO Rolf Barmen and Acting CFO Ole Johan Langenes. A recording of the presentation will be available on our web site shortly after the live audiocast has ended. For further information, please contact: Morten A. W. Opdal, Head of Controlling and Investor Relations, +47 970 62 526 This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Reference is made to the announcement on 17 July. The Transaction has today been approved by the Norwegian Competition Authority, and subject to the fulfilment of certain other closing conditions, the Transaction is expected to close during September. For queries, please contact: Morten A. W. Opdal, Head of Controlling and Investor Relations, +47 970 62 526