Elmera Group ASA

Share Issue/Capital Change • Sep 23, 2020

FJORDKRAFT HOLDING ASA – NEW SHARE CAPITAL REGISTERED

FJORDKRAFT HOLDING ASA – NEW SHARE CAPITAL REGISTERED

FJORDKRAFT HOLDING ASA – NEW SHARE CAPITAL REGISTERED

Reference is made to the announcement made by Fjordkraft Holding ASA (the "Company" or "Fjordkraft") on 22 September 2020, regarding the Company`s completion of the acquisition of 100% of the shares in Innlandskraft AS, and the issuance of 9,695,584 new shares in the Company as consideration to Gudbrandsdal Energi Holding AS ("GEH") for 50% of the purchase price for Innlandskraft.

The share capital increase related to the issuance of shares to GEH has today been registered with the Norwegian Register of Business Enterprises. The Company`s new share capital is NOK 34,284,540 divided into 114,281,800 shares, each with a nominal value of NOK 0.30.

This information is subject of the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.

For queries, please contact:

Morten A. W. Opdal, Head of Controlling and Investor Relations, +47 970 62 526