1) December 2015 MARKET REPORT Nasdaq Commodities Oslo, 7 January 2016 Power Trading Results in December 2015 In December 2015, the total volume in power derivatives traded and cleared on Nasdaq Commodities amounted to 137.5 TWh (December 2014: 100.6 TWh). The share of Order Book traded power was 74.8 TWh (December 2014: 62.9 TWh) which includes 8.4 TWh from German Power. (December 2014: 4.6 TWh). Carbon Trading Results in December 2015 In December 2015 the total volume of traded and cleared EUAs and CERs was 0.3 million tonnes as compared to 0.8 million tonnes in December 2014. For detailed information about the December figures, please see enclosed tables. http://business.nasdaq.com/ www.nasdaqomx.com/commodities 

2) Nasdaq Commodities Dec 2015 Nov 2015 Dec 2014 Jan-Dec 2015 Jan-Dec 2014 Order Book Traded Nordic Power (TWh) German Power (TWh) Total Power (TWh) mEUR Number of transactions 66.4 8.4 74.8 1 503 7 061 58.9 15.2 74.1 1 747 6 178 58.2 4.6 62.9 1 962 6 779 742.9 142.2 885.1 21 915 86 353 866.9 58.1 925.5 28 302 96 139 GWh/day mEUR/day No. transactions/day 3 740 75.2 353.1 3 527 83.2 294.2 3 312 103.2 356.8 3 512 87.0 342.7 3 702 113.2 384.6 Nordic Power (TWh) 124.9 114.0 95.4 1 325.1 1 496.8 German Power (TWh) 12.5 20.8 4.6 169.8 65.2 0.6 0.7 0.9 1 495.7 1 562.9 Financial Power Contracts Total Traded and Cleared UK Power (TWh) Total Power (TWh) 137.5 134.9 100.6 mEUR 2 564 2 925 2 917 34 458 44 706 Number of transactions 9 051 8 048 8 451 108 643 120 792 GWh/day 6 873 6 422 5 296 5 935 6 252 mEUR/day 128.2 139.3 153.5 136.7 178.8 No. transactions/day 452.6 383.2 444.8 431.1 483.2 322 547 752 5 343 7 522 7 619 Financial Carbon Contracts Order Book Traded Volume (1,000 EUA) Volume (1,000 CER) 5 97 Total Volume 322 547 757 5 343 mEUR 2.7 4.6 5.2 40.3 45.2 Number of transactions 58 63 72 848 1 048 Volume (1,000)/day mEUR/day No. transactions/day 16 26 40 21 30 0.13 0.22 0.28 0.16 0.18 2.9 3.0 3.8 3.4 4.2 332 547 823 5 386 7 949 8 046 Total Traded and Cleared Volume (1,000 EUA) Volume (1,000 CER) 5 97 Total Volume 332 547 828 5 386 mEUR 2.7 4.6 5.7 40.7 47.8 Number of transactions 60 63 77 856 1 068 Volume (1,000)/day 17 26 44 21 32 0.14 0.22 0.30 0.16 0.19 No. transactions/day 3.0 3.0 4.1 3.4 4.3 Trading Days in Period 20 21 19 252 250 mEUR/day http://business.nasdaq.com/ www.nasdaqomx.com/commodities 

3) About Nasdaq Nasdaq (Nasdaq: NDAQ) is a leading provider of trading, For further information please contact: exchange technology, information and public company Sara Aadnesen, Director Corporate Communication services across six continents. Through its diverse portfolio Phone +47 9060 0759, of solutions, Nasdaq enables customers to plan, optimize E-mail: sara.aadnesen@nasdaq.com and execute their business vision with confidence, using proven technologies that provide transparency and insight Pontus Ripstrand, ESR Stockholm for navigating today’s global capital markets. As the creator E-mail: pontus.ripstrand@nasdaq.com of the world’s first electronic stock market, its technology powers more than 70 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to more than 3,500 listed companies with a market value of over $8.8 trillion and more than 10,000 corporate clients. To learn more, visit www.nasdaq.com/ambition or www.nasdaqomx.com. About Nasdaq Commodities Nasdaq Commodities, is the brand name for the Nasdaq Group’s worldwide suite of commodity related products and services. The Nasdaq Commodities offerings include power, natural gas and carbon emission markets, tanker and dry cargo freight, fuel oil, seafood derivatives, iron ore, electricity certificates and clearing services. Nasdaq Oslo ASA, is the commodity derivatives exchange authorized by the Norwegian Ministry of Finance and supervised by the Norwegian Financial Supervisory Authority. About Nasdaq Clearing Nasdaq Clearing is the brand name of Nasdaq Clearing AB which is authorized and supervised as a multi-asset clearinghouse by the Swedish Financial Supervisory Authority in Sweden as well as authorized to conduct clearing operation in Norway by the Norwegian Ministry of Finance. Nasdaq Clearing AB provides clearing by entering into financial derivatives contracts as a central clearing counterparty, thereby reducing the risk and margin requirements for buyers and sellers Members Nasdaq Commodities has more than 400 members. The members include energy producers, energy-intensive industries, large consumers, distributors, funds, investment companies, banks, brokers, utility companies and financial institutions. http://business.nasdaq.com/ www.nasdaqomx.com/commodities