Hafslund - Offer to purchase own series B-shares

Pursuant to the authorization to acquire own shares granted by the Annual General Meeting on 8 May 2014, Hafslund ASA (“Hafslund” or the “Company”) offers to buy back series B-shares issued by Hafslund at a price per B-share of NOK 51.32 (the “Offer”). The Offer is limited to an aggregate total of 250,000 B-shares, which constitutes approximately 0.31% of the issued B-shares in the Company (and approximately 0.13% of the entire share capital in the Company (A- and B-shares)). Repurchased B-shares will be used in connection with an employee share plan in the Company.

The price in the Offer is NOK 51.32 per B-share, which is the volume weighted average price per B-share for the period from 10 July 2014 (Hafslund publishing second quarter 2014 financial results) until and including 18 August 2014. The acceptance period for the Offer will be from and including 19 August 2014 to and including 28 August 2014 at 16.30 (CEST).

The Offer is not directed to persons whose acceptance of the Offer requires that (i) further documents are issued in order for the Offer to comply with local law or (ii) registration or other measures are taken pursuant to local law.

The Company has retained DNB Markets, a part of DNB Bank ASA (“DNB Markets”), to assist in implementing the Offer.

As of the date of this announcement, the Company and its subsidiaries hold no own A-shares and 170 411 own B-shares, constituting approximately 0.21% of the issued B-shares in the Company (and approximately 0.09% of the entire share capital in the Company (A- and B- shares)).

An information letter, setting out further details of the Offer and offer restrictions for the Offer, together with an acceptance form will be distributed by post to the Company’s shareholders registered with the Norwegian Central Securities Depositary (Nw. Verdipapirsentralen) on 18 August 2014. The information letter and the acceptance form are also available at www.dnb.no/emisjoner. For further information and instructions for accepting the Offer, please contact DNB Markets on telephone +47 23 26 81 01 or e-mail markets.ibd@dnb.no.

Hafslund ASA
Oslo, 19 August 2014