Hafslund Eco Hydropower Portfolio

130 years of history - from 8 to 23 TWh two last decades 10TWh E-CO Energi portfolio 8TWh 1892 E-CO • Kristiania Elektricitetsværk established (later E-CO Energi) Hafslund 1898 • Hafslund established H 1900-2000 . Growth and power plant development • 2009-2013 Streamlining and sale of venture business E-CO acquired Hafslund Produksjon 10TWh Hafslund Eco and Eidsiva Energi merged 23TWh 21 TWh 20TWh Celsio transaction Four large hydro expansion projects 13TWh Hafslund ECO 2017 • City of Oslo de-listed Hafslund and sold Production to E-CO Energi, Heat and Markets sold to others Hafslund restructured to a pure-play grid company 2018 Hafslund E-CO • The City of Oslo merges ownership of Hafslund and E-CO Energi in a new parent company 2019 Eidsiva • Asset swap transaction • Transferred grid • business to Eidsiva Energi Received power plants and cash consideration Cross ownership 2022 Hafslund Acquisition of Norway's largest district heating business together with two partners 6

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