Elmera Group ASA — M&A Activity 2018

Mar 28, 2018

Fjordkraft - clearance received for acquisition of TrønderEnergi Marked AS

Fjordkraft - clearance received for acquisition of TrønderEnergi Marked AS

Bergen, 28 March 2018: As described in the prospectus for its initial public offering dated 9 March 2018, Fjordkraft Holding ASA ("Fjordkraft", OSE ticker "FKRAFT") (through a subsidiary) on 23 February 2018 entered into an agreement to acquire all of the issued shares of TrønderEnergi Marked AS, a leading electricity retailer in the Trøndelag area with 61,700 electricity deliveries, (figures as at year end 2017).

The transaction has now received clearance from the Norwegian Competition Authority. Approval has also been granted by the Norwegian Water Resources and Energy Directorate. Fjordkraft expects completion of the transaction to occur mid-April 2018.

For further queries, please contact:

Jeanne Tjomsland, head of HR, Communication and Information Security

+47 957 61 644

jeanne.tjomsland@fjordkraft.no