Update of the Nomination Committee's proposals

Stavanger, 24 April 2013: Reference is made to the calling notice for the Annual General Meeting for Norwegian Energy Company (Noreco) dated 17 April 2013.

Updated appendix C containing the Nomination Committee`s proposals is attached

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About Norwegian Energy Company ASA

Noreco is an independent Norwegian oil company. The company’s focus is to explore, develop and produce oil and gas in the North Sea region. Since incorporation in 2005, the company has grown through license rounds, successful exploration and acquisitions. Noreco operates in Norway, Denmark and United Kingdom, and employs around 70 oil and gas professionals. Noreco is listed on the Oslo Børs (ticker NOR).

For further information, please visit: www.noreco.com