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Norwegian Energy Company ASA – Successful placement of USD 175 million senior unsecured bond

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Norwegian Energy Company ASA (“Noreco” or the “Company”) has successfully completed a new 6.5-year bond issue of USD 175 million with a coupon rate of 9.00 percent, issued at par. The bond issue attracted strong international investor interest and was significantly oversubscribed. The net proceeds from the bond issue will be used for general corporate purposes. The bond issue is expected to be settled on or about 17 December 2019.

ABG Sundal Collier, Arctic Securities and SEB acted as Joint Lead Managers in connection with the placement of the new bond issue.

Contacts:

Euan Shirlaw, CFO, +47 22 33 60 00 or investorrelations@noreco.com

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About Norwegian Energy Company ASA

Noreco is a publicly owned company with focus on the oil, gas and offshore industry. The company's shares are listed on the Oslo Stock Exchange (ticker NOR). For further information, please visit: www.noreco.com.

This information is subject of the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.

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