HNA/HNB – Finn Bjørn Ruyter new CEO of Hafslund

The Board of Directors of Hafslund ASA has appointed Finn Bjørn Ruyter as new President and Chief Executive Officer of Hafslund. Mr Ruyter has previously held the position as Chief Financial Officer and has with effect from 6 January 2012 also been acting CEO of Hafslund.

Finn Bjørn Ruyter (born 1964) was appointed as CFO of Hafslund 16 August 2010. He has over 20 years experience in the Norwegian energy and power industry. He has been with Norsk Hydro for six years with responsibilities within oil trading, refining and power trading, followed by 12 years with Elkem, of which the last ten years as Managing Director of Elkem Energi. Ruyter joined Hafslund from the position as Chief Operating Officer of SN Aboitiz Power.

Ruyter holds a graduate engineer degree from the Norwegian Institute of Technology and a MBA degree from Norwegian Business School. Ruyter and parties closely related to him own 5,000 Class A and 100 Class B Hafslund shares.

- The Board of Directors is looking forward to further cooperation with Finn Bjørn Ruyter as Hafslund’s CEO. In recent years, The Group’s strategy has changed in the direction of becoming a more focused energy company within renewable energy, infrastructure for energy and power sales. Mr Ruyter’s background and experience is important when Hafslund now will carry on this work, says Birger Magnus, Chairman of the Board of Directors of Hafslund ASA.

Hafslund ASA

Oslo, 21 March 2012

For further information, please contact:

CEO Finn Bjørn Ruyter, telephone + 47 911 38 199

Chairman of the board of Directors of Hafslund ASA, Birger Magnus, telephone + 47 900 30 093