Noreco announces results of offer to buy back NOR10 bonds

Reference is made to the announcement from Norwegian Energy Company ASA (“Noreco”, the “Issuer” or the “Company”) on 18 December 2015 regarding the offer to buy back its senior secured bonds NOR10 (ISIN: NO0010697030).

The buy-back offer closed at 12:00 CET on 28 December 2015. The Issuer hereby confirms to buy back a principal amount of NOK 202 million of NOR10 bonds at the fixed price of 85% of par value. All orders have received full allocation.

The bonds acquired by the Issuer will as soon as practicable following settlement of the offer on or about 5 January 2016 be deleted by the Issuer. Following such deletion the total nominal outstanding amount in NOR10 will be NOK 154 million.

For further information, please contact Arctic Securities:

• Morten Eide Horne, Tel: +47 2101 3270 or e-mail: morten.horne@arcticsec.no
• Ilias Salem, Tel: +47 2101 3287 or e-mail: Ilias.Salem@arcticsec.no

Oslo, 29 December 2015