Sale of Orkla Energi AS and Trælandsfos Holding AS completed

30 Apr 2025 10:06 CEST

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.

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