Orkla ASA — M&A Activity 2025

Apr 30, 2025

Sale of Orkla Energi AS and Trælandsfos Holding AS completed

Sale of Orkla Energi AS and Trælandsfos Holding AS completed

Orkla announced on 24 January 2025 that it had entered into agreements to sell

its entire hydro power portfolio in two separate transactions. Å Energi has

now acquired Orkla Energi AS and Trælandsfos Holding AS.

The transaction was completed today, following approval by the relevant

competition authorities and the Norwegian Ministry of Energy. The underlying

Saudefaldene assets ("Saudefaldene Assets"), of which Orkla Energi indirectly

own 85%, are leased until the end of 2030, when Statkraft assumes ownership in

exchange for a regulated compensation. The assets have an average annual

production of 1,860 GWh, of which 1,072 GWh are subject to fixed delivery

commitments. The Trælandsfos assets have an average annual production of 61

GWh.

The release, dated 24 January 2025 is available here:

https://newsweb.oslobors.no/message/637067

The transaction will have accounting effect from 30 April 2025.

Following the closing of this transaction, Orkla has divested its entire hydro

power portfolio, given that the sale of Sarpsfoss Limited was completed on 11

April 2025. A copy of the restated financial statements excluding hydro power

is attached to this release.

About Orkla ASA

Orkla ASA is a leading industrial investment company within brands and

consumer-oriented businesses. At present, Orkla has 10 portfolio companies.

The company takes a long-term and strategic approach to its investments,

creating value by combining brand expertise with an investment company

mindset. Orkla is listed on the Oslo Stock Exchange and is headquartered in

Oslo, Norway. The Group had a turnover of NOK 70.7 billion in 2024 and has

approximately 19,000 employees.

About Å Energi AS

Å Energi is Norway's largest vertically integrated renewable energy company,

with operations across the entire value chain, from power production to end

customers. Å Energi operates 73 wholly and partly owned hydropower plants,

generating around 11.3 TWh each year, and is the second largest grid operator,

supplying power to approximately 432,000 customers in Buskerud and Agder. Å

Energi is owned by 30 municipalities in Agder and Buskerud, Vardar, Lier Everk

Holding, and Statkraft.

Orkla ASA

Oslo, 30 April 2025

Ref.:

SVP Investor Relations & Communication

Annie Bersagel

Mobile: +47 986 03 664

Email: annie.bersagel@orkla.no

This information is subject to disclosure under the Norwegian Securities

Trading Act, §5-12. The information was submitted for publication at

2025-04-30 10:06 CEST.