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

We hereby invite you to participate at the presentation of Fjordkraft Holding ASA's Q2 2019 results on Thursday 22 August 2019. Release: Time: Thursday 22 August 2019 at 07.00 CET 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 22 August 2019 at 08.00 CET Location: Felix Konferansesenter, Bryggetorget 3, 0125 Oslo The presentation will be webcasted live at: https://webtv.hegnar.no/presentation.php?webcastId=98042753 The presentation will be held in English. The presentation will be held by CEO Rolf Barmen and CFO Birte Strander. A recording of the presentation will be available on our web site shortly after the live webcast 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.

In the second quarter of 2019, the number of electricity deliveries increased by 1,471 in the Consumer segment and decreased by 560 in the Business segment, all of which organic. The number of electricity deliveries in the Consumer and Business segments at the end of Q2 2019 was 607,563. At the end of the second quarter 2019, Extended Alliance comprised 34,391 electricity deliveries, an increase of 569 electricity deliveries from last quarter. In total, the Group had 641,954 electricity deliveries at the end of the second quarter 2019. This is an increase of 20,476 electricity deliveries compared to the end of the second quarter 2018. "We are still seeing some effects from the implementation of Elhub and given this we are happy with our growth. The Consumer segment is showing a positive trend, and fluctuations in the Business segment is normal as tender customers joins or leaves us" says Rolf Barmen, CEO of Fjordkraft. The number of mobile subscriptions grew by 9,446 in the second quarter of 2019, reaching a total of 81,094 subscriptions at the end of the period. "This quarter's growth has been very strong. We have grown to more than 80,000 mobile subscribers, further strengthening our position as the largest mobile supplier without its own network" says Barmen. For queries, please contact: Morten A. W. Opdal, Head of Controlling and Investor Relations, +47 970 62 526