NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.

Reference is made to the subsequent offering (the 'Subsequent Offering') in Norwegian Energy Company ASA (the 'Company') as previously announced, latest on 12 August 2019.

Frederik Rustad, managing director of the Company, has today through his wholly owned company Rhapsodie AS subscribed for 4,500 new shares in the Subsequent Offering, corresponding to the number of subscription rights purchased, at a subscription price of NOK 185 per new share as well as over-subscribed for additional shares. Following this transaction and the issue of the new shares in the Subsequent Offering, Frederik Rustad, and companies controlled by him, will own 4,500 shares, 0 subscription rights and 80,000 options for shares in the Company.

Joakim Adeola Helgesen, secretary to the board of directors, has today through his wholly owned company Alkmaar AS subscribed for 360 new shares in the Subsequent Offering, corresponding to the number of subscription rights which were allocated to him in the Subsequent Offering based on existing shareholding and additional subscription rights purchased, at a subscription price of NOK 185 per new share as well as over-subscribed for additional shares. Following this transaction and the issue of the new shares in the Subsequent Offering, Joakim Adeola Helgesen, and companies controlled by him, will own 460 shares, 0 subscription rights and 15,000 options for shares in the Company.

This information is subject to disclosure requirements pursuant to section 4-2 of the Norwegian Securities Trading Act.

For further information, please contact:

Investor Relations

Tel.: +47 22 33 60 00 or email: ir@noreco.com

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Norwegian Energy Company ASA published this content on 20 August 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 August 2019 16:16:08 UTC