Purchase of subscription rights and subscription for shares in the subsequent offering by primary insiders

23 August
2019, Q3

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.

Reference is made to the subsequent offering (the “Subsequent Offering”) in Norwegian Energy Company ASA (the “Company”) as previously announced, latest on 12 August 2019.

Marianne Lie, board member of the Company, has today through Fajoma Consulting AS, a company controlled by her, purchased 4,500 subscription rights at an average price of NOK 34.8096 per subscription right and subsequently subscribed for 5,426 shares in the Subsequent Offering, corresponding to the number of subscription rights which were allocated to her in the Subsequent Offering based on existing shareholding and additional subscription rights purchased, at a subscription price of NOK 185 per new share as well as over-subscribed for additional shares. Following these transactions and the issue of the new shares in the Subsequent Offering, Marianne Lie, and companies controlled by her, will own 7,426 shares and 0 subscription rights for shares in the Company.

This information is subject to disclosure requirements pursuant to section 4-2 of the Norwegian Securities Trading Act.