HNA/HNB Mandatory notification of trade

Reference is made to notice given 20 June 2011.

All permanent employees in the Hafslund Group are offered to buy 100 B-shares in Hafslund ASA at a 20 percent discount to market price.

A total of 53,800 B-shares will on 30 June 2011 be transferred to employees in Hafslund, of which 1,700 B-shares to primary insiders. The shares, exclusive of any discount, are transferred at NOK 62.25 per share. Following this transaction, Hafslund's balance of own shares is 397,361 class B-shares. The company does not hold any Hafslund A-shares.

Hafslund ASA

Oslo, 30 June 2011