S&P downgrades Statkraft's credit rating from A to A-, in line with the company's long-standing rating target

12 Nov 2025 17:51 CET

Today S&P announced a one notch downgrade of Statkraft AS citing weakening
performance and financial metrics. The long-term issuer credit rating was
lowered from A to A- with a stable outlook.

The rating change aligns with the company's long-standing rating targets.
Statkraft has consistently maintained a target of an A- rating from S&P and a
BBB+ from Fitch. Statkraft remains committed to maintaining these targets.

On 18 June, Statkraft announced a new and refocused strategy, strengthening core
activities and competitiveness:
https://www.statkraft.com/newsroom/news-and-stories/2025/statkraft-strengthens-
core-activities-and-competitiveness-following-strategic-review/

For the latest updates on strategy execution, please refer to the Q3 2025
presentation: https://www.statkraft.com/globalassets/0/.com/6-investor-
relations/reports-and-
presentations/2025/q3/presentation---statkraft-as---q3-2025.pdf

The rating report is available on Statkraft's website:
https://www.statkraft.com/IR/funding-and-credit-rating/

For further information, please contact:
Funding Manager André Halle Julin, tel.: +47 992 54 205
VP Group Treasury Stephan Skaane, tel.: +47 905 13 652

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

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