Elmera Group ASA

Major Shareholding Notification • May 19, 2020

FKRAFT - Disclosure of shareholding

FKRAFT - Disclosure of shareholding

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 - Disclosure of shareholding

Skagerak Energi AS (“Skagerak Energi”) has today sold 15,528,228 shares in Fjordkraft Holding ASA (the “Company” or "Fjordkraft"), representing 14.85 per cent of the share capital in the Company, at a price of NOK 77.00 per share. The shares were sold through an accelerated bookbuilding process managed by ABG Sundal Collier ASA and SpareBank 1 Markets AS as joint bookrunners.

After settlement of the transaction, Skagerak Energi does not own any shares in the Company.

Contact:

Skagerak Energi AS

Øystein Disch Olsrød, CFO

+47 91 60 22 26

Oystein.Olsrod@skagerakenergi.no