GROUP MARKET REPORT. CARBON: Volume EUAs and CERs 9.3 million tonnes in October and million tonnes YTD

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1 October 28 GROUP MARKET REPORT Highlights physical markets: POWER: Volume Elspot 24.5 in October and TWh YTD Volume Elbas GWh in October and GWh YTD The exchange's market share in October was 69.7 per cent, compared to 68.8 in September MEMBERS: Nord Pool Spot: 21 net new members YTD, 387 memberships in total. Highlights financial markets: POWER: Volume traded and cleared Nordic power in October was TWh and YTD TWh, compared to TWh and 196. TWh last year Nord Pool market share of traded Nordic power contracts was 57 per cent in October 28 compared to 5 per cent in October 27 Volume traded and cleared in international power contracts were 2.6 TWh in October and 36.2 TWh YTD Trading in the financial market (the future power market) indicates a price for the forward contract for Q1 29 of 55.9 EUR/MWh, down from 66.6 EUR/MWh in September CARBON: Volume EUAs and CERs 9.3 million tonnes in October and million tonnes YTD MEMBERS: Nord Pool ASA/NASDAQ OMX*: Net decrease of one membership YTD, 399 memberships in total** *NASDAQ OMX acquired Nord Pool s international products, clearing and consulting business in October 28 and established NASDAQ OMX Commodities **The decrease in number of memberships in 28 is due to shutdown of the FishEx marketplace and termination of Nord Pool Clearing ASA's agreement for clearing these contracts. See enclosed tables.

2 Physical market Nord Pool Spot AS Turnover in the physical market in October was 24.5 TWh (1 TWh = 1 billion KWh). In September the turnover was 2.7 TWh. EUR/MWh Average system price/month The exchange's market share in October was 69.7 per cent, an increase of.9 percentage points from September. Compared with October 27, this represents an increase of 1.3 percentage points. TWh Spot turnover monthly Power imports/exports Nordic market: The figures for import/export between the Nordic countries and the rest of Europe show that the Nordic region exported 199 GWh in October. GWh Exchange with Nordic area monthly Germany Estonia Poland Russia Netherlands Net In October 27, 579 GWh were imported. Development European power prices and volume Overview of spot prices for the largest exchanges in Europe since 23: Nord Pool (Nordics), EEX (Germany) and Powernext (France). EUR/MWh Spot prices (NP, EEX, PWX) The average spot price in October was EUR 56.48/MWh, a decrease of 1.99 EUR/MWh, or 16 per cent, from the preceding month. EEX PWX NP Spot

3 Financial market and clearing Turnover of traded and cleared contracts in October was 22 TWh against TWh in September (incl. international contracts). In the same period in 27, the figure was TWh Turnover on the exchange in October was against TWh in September (incl. international contracts). The notional value of the turnover in October was EUR million. Turnover of cleared bilateral market trades in October was 87.8 TWh against 96.6 TWh in September (incl. international contracts). In the same period in 27, the figure was TWh. Turnover on international power contracts on the exchange in October was 1.4 TWh against 3.8 TWh in September. Turnover of traded and cleared contracts on international power in October was 2.6 TWh against 4.4 TWh in September. In October, 9.3 million tco 2 were traded and cleared, against 6.7 million tonnes in September (1 tco 2=1 EUA=1 CER). EUR/ tco2 EUA/CER prices EUA D EC -8 C ER D EC -8 EUA D EC -9 Future power prices These prices indicate the market's expectations of future power prices in the wholesale market. Trading in the financial market (the future power market) indicates a price for the forward contract for Q1 29 of 55.9 EUR/MWh, down from 66.6 EUR/MWh in September. EUR/MWh Spot and forward prices October Spot Price Month Fwd Q & Yr Fwd In October, the price for the Q2 29 contract decreased from EUR/MWh to Turnover power markets Nord Pool group TWh Turnover all markets Elspot & Elbas Financial Market Clearing EUA EUA/CER turnover See enclosed tables for more information Financial Market OTC

4 Nord Pool Monthly Report October 28 Physical market, Nord Pool Spot AS Elspot prices October September October Jan-Oct Jan-Oct Nov 27 - (EUR/MWh) Oct 28 System price Århus Copenhagen Finland Oslo Trondheim Tromsø Sweden Turnover, Spot TWh meur 1, , ,16.5 6, ,751.8 GWh/day meur/day Market share 69.7 % 68.8 % 68.4 % 7. % 68.9 % 69.9 % Turnover, Elbas GWh ,44.7 1, ,72.1 meur GWh/day meur/day Physical electricity flows net GWh (- export / + import) Denmark , ,475 Finland ,673 11,113 12,671 Norway -1,17-1,23-1,14-11,716-1,49-11,795 Sweden ,246-5, ,139 The Nordic region ,229 1,87-788

5 Financial market, Nord Pool ASA Financial power contracts Closing prices, Nordic October September October forward contracts st quarter nd quarter Year Year Jan-Oct 28 Jan-Oct 27 Nov 27 - Oct 28 Turnover on the exchange TWh Nordic TWh International TWh Total meur 6,246 11,785 8,66 67,893 33,676 77,419 Number of transactions 14,41 2,255 15, ,77 89,39 158,362 GWh/day 4,966 8,24 7,244 5,994 4,159 5,791 meur/day No. transactions/day Clearing turnover TWh Nordic TWh International TWh Total meur 9,79 16,361 14,761 16,743 63, ,52 Number of transactions 19,72 24,92 2, ,85 132,165 28,977 GWh/day 8,784 12,633 14,58 1,517 9,289 1,513 meur/day No. transactions/day , Trading in carbon contracts Closing prices, carbon contracts EUADEC EUADEC CERDEC Turnover on the exchange Volume (1, EUA) 2,536 2,214 3,318 22,197 21,672 27,221 Volume (1, CER) ,87 7,47 3,844 9,23 Total Volume 2,647 2,39 5,188 29,64 25,516 36,451 meur Number of transactions Volume (1, EUA)/day meur/day No. transactions/day Clearing turnover Volume (1, EUA) 8,381 5,947 7,931 61,912 58,138 74,415 Volume (1, CER) ,294 5,222 8,839 65,86 Total Volume 9,285 6,742 12, ,134 66,977 14,275 meur ,35.5 1,8.3 2,839.4 Number of transactions Volume (1, EUA)/day meur/day No. transactions/day Trading days in period

6 About Nord Pool Nord Pool is Europe s largest power exchange in terms of both physical and financial contract volumes. Further, Nord Pool also provides trade in emissions allowances (EUAs) and carbon credits (CERs). Organisation The Nord Pool group comprises Nord Pool ASA and Nord Pool Spot AS. (In October 28, NASDAQ OMX acquired the carbon and international derivatives products, as well as the subsidiaries Nord Pool Clearing and Nord Pool Consulting). Nord Pool ASA holds the exchange license and maintains the responsibility for operating the exchange traded products, including those owned by Nord Pool ASA (Nordic derivatives) and NASDAQ OMX Commodities (German/Dutch derivatives and carbon contracts). Nord Pool ASA remains in charge of the financial market surveillance, market conduct rules, the trading rulebook and the information distribution to the financial market in close cooperation with Nord Pool Spot AS. The parameters influencing price will still be published first and simultaneously to all members through the existing Nord Pool group information channels. Nord Pool Spot AS and its subsidiaries Nord Pool Finland Oy and Nord Pool Spot AB are owned by the national grid companies Fingrid Oyj and Energinet.dk by twenty per cent each. Statnett SF and Svenska Kraftnät own thirty per cent each. The Nord Pool group has offices in Lysaker (Oslo), Fredericia, Stockholm, Helsinki, Berlin and Amsterdam. Members Nord Pool ASA/Nord Pool Clearing ASA have 399 members. Nord Pool Spot AS has 387 members in Elspot and 58 in Elbas. The memberships include energy producers, energyintensive industries, large consumers, distributors, funds, investment companies, banks, brokers, utility companies and financial institutions. Services from Nord Pool The physical market - Nord Pool Spot AS The physical market is the basis for all electricity trading in the Nordic market. The spot price forms the basis for the financial market. Nord Pool Spot organises the marketplace which comprises the Elspot and Elbas products. Elspot is the common Nordic market for trading physical electricity contracts with next-day supply. Elbas is a physical balance adjustment market for Sweden, Finland and Denmark. Both the Elspot and Elbas market also include the KONTEK area in Germany. Gas AS is owned by Energinet.dk and Nord Pool Spot with a share of fifty per cent each. The financial market Nord Pool ASA Nord Pool ASA provides a marketplace where the exchange members can trade derivative contracts for the Nordics, Germany and Holland. Financial power contracts are used to guarantee prices and manage risk when trading power. Nord Pool offers contracts of up to six years' duration, with contracts for days, weeks, months, quarters and years. The financial market also offers EUAs and CERs. Clearing Nord Pool Clearing ASA (NASDAQ OMX) Clearing consists of Nord Pool Clearing ASA which enters into financial contracts as a contractual counter-party. This means that Nord Pool Clearing assumes liability for covering the future clearing of financial contracts in order to reduce the risk of the contracts for buyers and sellers. Nord Pool Clearing provides clearing for financial, standardised electricity contracts traded on and off the exchange. Consulting Nord Pool Consulting AS (NASDAQ OMX) Nord Pool Consulting AS is a consulting company specialising in services in the fields of consulting, operations and development of international deregulated power markets. For further information about the statistics or the slides material, please contact: FINLAND: Nord Pool Finland OY Karri Mäkelä, director operations Tel: km@npspot.com SWEDEN: Nord Pool Spot AB Urban Hammarstedt, head of consulting Tel: uh@npspot.com DENMARK: Nord Pool Spot AS Anders Houmøller, director business development Tel: ah@npspot.com NORWAY: Nord Pool group/nasdaq OMX Lars Galtung, corporate communications Tel: lars.galtung@nordpool.com The gas exchange Nord Pool Gas AS organizes physical trade of natural gas. The products offered are day contracts and a following-month contract. Nord Pool