Oslo City Council has approved to combine the ownership of Hafslund and E-CO Energi

20.06.18

The City of Oslo has promoted a proposal to combine the ownership of Hafslund AS and E-CO Energi Holding AS under a new joint parent company that will be 100% owned by the City of Oslo. The proposal was approved by the Oslo City Council on 20 June 2018.

Reference is made to the stock exchange announcement dated 20 March 2018 stating that the City Government has promoted a proposal to restructure the City of Oslo`s ownership in the energy sector by establishing a new joint parent company owned 100% by the City of Oslo that will own Hafslund AS and E-CO Energi Holding AS. The proposal was approved by the Oslo City Council on 20 June 2018.

The restructuring is subject to necessary approvals from regulatory authorities and is expected to be completed by the end of July 2018.

Contacts:

Morten Hansen

Acting CFO

+47 908 28 577

Kjell Arne Hansen

Treasurer

+47 950 40 372