HNA/HNB - New organisation structure and changes in Group management

In recent years Hafslund ASA has adopted a clearer focus on renewable energy within hydropower, bioenergy and district heating, and the company is working to further develop infrastructure for energy and to promote growth within Nordic power sales. The Group has made some organisational changes to reflect this.

Hafslund’s business will be organised in the business areas Production, Heat, Networks, Markets and Venture, and the Group functions Finance and Communications and Corporate Responsibility.

The various areas in brief:

Production covers the Group’s hydropower production.

Heat is responsible for all assignments connected to the Group’s heating and district heating activities.

Networks administers the Group’s grid activities.

Markets is responsible for power sales to the retail and business market, the customer service centre and invoicing services.

Venture manages the Group’s investing activities.

Finance deals with areas including financial management and reporting, financing and power trading.

Communications and Corporate Responsibility includes Group communications and corporate social responsibility.

Together with President and CEO Christian Berg, the new Group management team will comprise:

Senior Vice President Production: Anders Østby. Østby was formerly Managing Director for Hafslund Produksjon, a position he will still hold.

Senior Vice President Heat: Jan Presttun. Presttun was previously Senior Vice President District Heating and Networks. Presttun will also hold the position as Managing Director for Hafslund Varme.

Senior Vice President Networks: Jens Auset. Auset was formerly Managing Director of Hafslund Nett, a position he will still hold.

Senior Vice President Markets: Kari Ekelund Thørud. Ekelund Thørud has been Senior Vice President Markets since September 2009.

Senior Vice President Venture: Tore Schiøtz. Schiøtz has been Senior Vice President Venture since November 2006.

Senior Vice President Finance and Deputy CEO: Finn Bjørn Ruyter. Ruyter has been Senior Vice President Finance (CFO) at Hafslund since August 2010 and Deputy CEO since July 2011.

Senior Vice President Communications and Corporate Responsibility: Karen Onsager. Onsager has been Senior Vice President Communications and Corporate Responsibility since September 2008.

The changes are effective 9 September 2011.

Hafslund ASA

Oslo, 9 September 2011

For further information, please contact:

Senior Vice President Communications, Karen Onsager

Mobile +47 92 08 70 07

E-mail: karen.onsager@hafslund.no

Senior Vice President Finance, Finn Bjørn Ruyter

Mobile +47 91 13 81 99

E-mail: Finn.bjorn.ruyter@hafslund.no