Elmera Group ASA

Major Shareholding Notification • Sep 23, 2019

Major Shareholding Disclosure

Major Shareholding Disclosure

JPMorgan Asset Management Holdings Inc. ("JPMAMHI") has a notifiable interest in the share capital of Fjordkraft Holding ASA as a result of trades by its subsidiary JPMorgan Asset Management (UK) Limited. The total number of shares held by JPMAMHI on 20 September 2019 was 5,809,380 being 5.559% of the issued share capital and voting rights of the company. The equity holding in JPMAMHI crossed notification threshold of 5% on 20 September 2019.

JPMorgan Asset Management Holdings Inc. ("JPMAMHI") crossed the 5% threshold as a result of its subsidiary JPMorgan Asset Management (UK) Limited purchasing 794,564 shares.

Breakdown of holdings by JPMorgan Asset Management (UK) Limited

Number of shares held: 5,809,380 (5.559%)

CHAIN OF CONTROLLED UNDERTAKINGS

Relationship of JPMorgan Asset Management Holdings Inc. to subsidiaries involved in the disclosure

1. The following hierarchy shows the relationship between JPMorgan Asset Management Holdings Inc. and its subsidiary JPMorgan Asset Management (UK) Limited

JPMorgan Asset Management Holdings Inc.

JPMorgan Asset Management International Limited (100%)

JPMorgan Asset Management Holdings (UK) Limited (100%)

JPMorgan Asset Management (UK) Limited (100%)