Change in granted options

15 October
2020, Q4

Oslo, 15 October 2020: Reference is made to the option program for Norwegian Energy Company ASA (“Noreco” or the “Company”), as approved by the general meeting of the Company on 8 November 2018 and later amended. With effect from today, the number of granted options has been reduced by 70,000 to 983,868, with 215,000 options remaining to be granted under the program, each option giving the right to acquire or subscribe for one share in the Company upon exercise.