Noreco: NOR13 Conversion Notice Received
Oslo, 19 May 2022: Reference is made to the Norwegian Energy Company ASA ("Noreco" or the "Company") convertible bond loan with ISIN NO 0010851520 (the "NOR13 Bonds") issued on 26 July 2019. The Company has received conversion notice for NOR13 bonds in the amount of USD 31,342,011, which pursuant to the bond terms are convertible into 1,081,751 new shares in the Company at a conversion price of USD 28.9734. Following the conversion, the Company has NOR13 bonds in issue in the nominal amount of USD 160,057,155. Further and following completion of such conversion, including