Oslo ,24 September 2020 . Reference is made to the stock exchange notice dated23 September 2020 where Gudbrandsdal Energi Holding AS ("GEH") announced its contemplated sale of existing shares inFjordkraft Holding ASA ("Fjordkraft "). GEH has today sold 2,013,423 shares inFjordkraft at a price ofNOK 89 per share. The shares were sold through an accelerated bookbuilding process managed byDNB Markets , a part ofDNB Bank ASA . Following this transaction, GEH owns 7,682,161 shares inFjordkraft , representing 6.7% of the issued share capital inFjordkraft . GEH has entered into a customary 180 days lock-up for its remaining shares inFjordkraft . Important Notice The distribution of this announcement and the offer and sale of the shares in certain jurisdictions may be restricted by law. The shares may not be offered to the public in any jurisdiction in circumstances which would require the preparation or registration of any prospectus or offering document relating to the shares in such jurisdiction. No action has been taken by the Manager nor any of its affiliates that would permit an offering of the shares or possession or distribution of this announcement or any other offering or publicity material relating to such securities in any jurisdiction where action for that purpose is required. Persons into whose possession this announcement comes are required to inform themselves about and to observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. This press release is for information purposes only and does not constitute or form a part of an offer to sell or a solicitation of an offer to purchase any security of the Company inthe United States or in any other jurisdiction where such offer or solicitation is unlawful. The securities of the Company described in this press release have not been and will not be registered under theU.S. Securities Act of 1933, as amended (the "Securities Act"), or any applicable state or foreign securities laws and may not be offered or sold inthe United States absent registration or an exemption from the registration requirements of the Securities Act. There will be no public offering of securities inthe United States .
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