Revised proposal from the nomination committee

Oslo 11 January 2016: Reference is made to the announcement made 30 December 2015: Notice of extraordinary general meeting of Norwegian Energy Company ASA to be held on 21 January 2016 at 12:00 CET at the premises of Advokatfirmaet BA-HR DA, Tjuvholmen allé 16, Oslo. Please find attached revised proposal from the nomination committee together with a revised proposal for resolution. The documents are also available at www.noreco.com.

Contact:

Silje Augustson, Group CEO

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