Mandatory notification of trade

Oslo, 17 March 2016: Silje Augustson, Group CEO and member of the Board of Directors of Norwegian Energy Company ASA (“Noreco”), has on 16 March 2016 purchased 10,000 shares in Noreco at a price of NOK 47 per share. Silje Augustson owns 10,000 shares in Noreco after the transaction and has the right to acquire or subscribe up to 100,000 additional shares, in aggregate 110,000 shares, equal to 1.55% of the outstanding number of shares in the company.