Q1 2023 results presentation

On 11 May 2023, the following primary insider purchased shares in Elmera Group ASA: Per Oluf Solbraa (Board Member) has purchased 2,800 shares in Elmera Group ASA at an average price of NOK 20.52. After this transaction, Per Oluf Solbraa holds a total of 2,800 shares in Elmera Group.

Q1 2023 Highlights -Net revenue adj. NOK 534m (+8% YoY), EBIT adj. NOK 198m (+15% YoY) and volume sold 5.8 TWh (flat YoY) -The phase-out strategy for the variable product portfolio has had a significant positive impact on the Consumer segment in the quarter, balancing the losses from Q4 '22 -The Business segment continues the strong and consistent financial performance. Organic customer growth of 8 thousand deliveries (+7%) in the quarter, the highest since Q2 '18 -Positive trend in the Nordic segment. The majority of the fixed price contracts with profile risk has been phased out per quarter-end Q1 '23 -Cost efficiency programme progressing according to plan -The transaction with Telia was completed on 21 April 2023. The guaranteed consideration for 90% of the customer portfolio (NOK 115m) has been received -Dividend of NOK 1.5 per share was distributed on 5 May 2023 Growth in net revenue and EBIT and positive development in several business areas After two quarters with extraordinary elspot price volatility and customer mobility, the first quarter of 2023 has been more in line with the historical normal, even though elspot prices have remained relatively high through the quarter. Normalised markets have contributed to reduced risk in the variable contract portfolio and in the residual fixed price portfolio in the Nordic segment, both important contributing factors to the 7% YoY growth in net revenue adj. and 15% YoY growth in EBIT adj. The phase-out strategy for the variable products in the Consumer segment has been well executed in the quarter, and the risk margin covered the realised risk in the quarter and also contributed to balance some of the losses from Q4 '22. The portfolio constitutes 8% of the Consumer segment's deliveries at quarter-end and had a significant positive impact on the segment's quarterly results. The Business segment is performing well, and the Nordic segment is on a positive trend as the legacy fixed price contract portfolio with profile risk is being phased out. In the Group's New Growth Initiatives there are several positive developments, particularly the cooperation with Telia which progresses according to plan. The Group's cost efficiency program is also on track and is one of the Group's main priorities in the coming quarters. Please find attached the quarterly report and quarterly presentation. Results Presentation: Time: 10 May 2023 at 08.00 CET The presentation will be webcasted live at: https://teams.microsoft.com/l/meetup-join/19%3ameeting_NTFjYmUwNjMtODA4Ny00NTJhL WIxOGEtNjJiMjI3Y2U5YjEw%40thread.v2/0?context=%7B%22Tid%22%3A%22853e8b83-4054-4e b9-8b26-ec6513dd213d%22%2C%22Oid%22%3A%2266be86c3-29ed-4ffd-97a2-f638b5525146%22 %2C%22IsBroadcastMeeting%22%3Atrue%2C%22role%22%3A%22a%22%7D&btype=a&role=a For further information, please contact: Morten A. W. Opdal, Head of Group Accounting, Reporting and IR, +47 970 62 526

We hereby invite you to participate at the presentation of Elmera Group ASA's Q1 2023 results on 10 May 2023. Release: Time: 10 May 2023 at 07.00 CET Interim report and presentation material will be released and made available on the investor relations pages at https://investor.elmeragroup.no Results Presentation: Time: 10 May 2023 at 08.00 CET The presentation will be webcasted live at: https://teams.microsoft.com/l/meetup-join/19%3ameeting_NTFjYmUwNjMtODA4Ny00NTJhL WIxOGEtNjJiMjI3Y2U5YjEw%40thread.v2/0?context=%7B%22Tid%22%3A%22853e8b83-4054-4e b9-8b26-ec6513dd213d%22%2C%22Oid%22%3A%2266be86c3-29ed-4ffd-97a2-f638b5525146%22 %2C%22IsBroadcastMeeting%22%3Atrue%2C%22role%22%3A%22a%22%7D&btype=a&role=a The presentation will be held in English. The presentation will be held by CEO Rolf Barmen and CFO Henning Nordgulen. A recording of the presentation will be available on our web site shortly after the live webcast has ended. For further information, please contact: Morten A. W. Opdal, Head of Group Accounting, Reporting and IR, +47 970 62 526 This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.