Results for Q3 2022

Volatile energy market with high prices Coal, USD/t +132% Gas, EUR/MWh +310% CO2, EUR/t +39% 155 360 Q3-21 Q3-22 Nordic reservoir capacity¹ 194.9 79.6 79 84 57.1 47.5 Q3-21 Q3-22 Q3-21 Q3-22 Q3-21 Q3-22 • Factors impacting power prices: Average quarterly Nordic system price was 176 EUR/MWh, up 108 EUR/MWh Q-on-Q Gas, coal and CO2 prices 500 - Low reservoir levels in Southern Norway due to dry weather German base load price 400 Kristiansand spot price Tromsø spot price Significant spread between price areas in the Nordics 300 200 13 1 Nordic reservoir capacity in percent of median. Sources: Nord Pool, European Energy Exchange. 100 2019 2020 2021 2022 Statkraft

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