NOR: Mandatory notification of trade

Oslo, 25 January 2016: Reference is made to stock exchange announcement on 22 January 2016 on determination of the strike price for the options programme. Following issuance of option rights to Riulf Rustad and Silje Augustson on 22 January to each acquire or subscribe up to 100,000 shares in Norwegian Energy Company ASA (“Noreco”) at NOK 42 per share, Riulf Rustad owns 30,205 shares in Noreco and has the right to acquire or subscribe up to 100,000 shares at NOK 42 per share, in aggregate 130,205 shares, all held through the company Ousdal AS. Further, Silje Augustson has the right to acquire up to 100,000 shares at NOK 42 per share. The option rights described above expire 6 March 2018.

Contact:

Silje Augustson, Group CEO

Tel.: +47 992 83 900 or email: investorrelations@noreco.com