Entra

Share Issue/Capital Change • Nov 14, 2014

STABILISATION NOTICE AND EXERCISE OF OVER-ALLOTMENT OPTION

STABILISATION NOTICE AND EXERCISE OF OVER-ALLOTMENT OPTION

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR

INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA,

AUSTRALIA, THE HONG KONG SPECIAL ADMINISTRATIVE

REGION OF THE PEOPLE'S REPUBLIC OF CHINA, SOUTH

AFRICA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH

THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. OTHER

RESTRICTIONS ARE APPLICABLE. PLEASE SEE THE IMPORTANT

INFORMATION AT THE END OF THE ANNOUNCEMENT.

14 November 2014. Reference is made to the stock

exchange announcement published on 17 October 2014

concerning potential stabilisation activities in

respect of shares in Entra ASA ("Entra",

the "Company", ticker code: "ENTRA") from 17 October

2014 to and including today, 14 November 2014

(the "Stabilisation Period") in connection with

Entra's initial public offering (the "Offering").

Goldman Sachs International (the "Stabilisation

Manager") (contact: John Bentinck; telephone: +44 (0)

20 7774 1000) hereby gives notice that during the

Stabilisation Period, stabilisation was undertaken in

relation to the Offering as set out below. For each

of the dates during which stabilisation transactions

were carried out, the price range was as follows:

Date

17 October 2014

Lowest price

NOK 65

Highest price

NOK 65

Number of shares acquired

474,389

In order to permit the redelivery of shares in Entra

which was borrowed and over-allotted in the Offering,

the Stabilisation Manager, on behalf of the Managers,

has exercised its option to purchase from the

Norwegian Government, represented by the Ministry of

Trade, Industry and Fisheries (the "Selling

Shareholder"), 11,595,845 shares in Entra, for which

the redelivery obligation has not been satisfied by

delivery of the 474,389 shares purchased during the

Stabilisation Period.

ABG Sundal Collier Norge ASA, Goldman Sachs

International and Swedbank are acting as Joint Global

Coordinators and Joint Bookrunners for the Offering.

Danske Bank, Handelsbanken Capital Markets and Kempen

& Co are acting as Co-Lead Managers for the Offering.

The Joint Global Coordinators and Joint Bookrunners

and the Co-Lead Managers are herein referred to as

the "Managers". DNB Markets is acting as financial

advisor to the Selling Shareholder.

For further queries, please contact:

Goldman Sachs International: John Bentinck; Tel: +44

(0)20 7774 1000

IMPORTANT INFORMATION

United States

These materials may not be published, distributed or

transmitted in the United States, Canada, Australia,

the Hong Kong Special Administrative Region of the

People's Republic of China, South Africa or Japan.

These materials do not constitute an offer of

securities for sale or a solicitation of an offer to

purchase securities (the "Shares") of Entra ASA

(the "Company") in the United States, Norway or any

other jurisdiction. The Shares of the Company may not

be offered or sold in the United States absent

registration or an exemption from registration under

the U.S. Securities Act of 1933, as amended

(the "Securities Act"). The Shares of the Company

have not been, and will not be, registered under the

Securities Act. Any sale in the United States of the

securities mentioned in this communication will be

made solely to "qualified institutional buyers" as

defined in Rule 144A under the Securities Act.

European Economic Area

Any offering of securities will be made by means of a

prospectus to be published that may be obtained from

the issuer or selling security holder, once

published, and that will contain detailed information

about the Company and its management, as well as

financial statements.

These materials are an advertisement and not a

prospectus for the purposes of Directive 2003/71/EC,

as amended (together with any applicable implementing

measures in any Member State, the "Prospectus

Directive"). Investors should not subscribe for any

securities referred to in these materials except on

the basis of information contained in the prospectus.

In any EEA Member State other than Norway (from the

time the prospectus has been approved by the

Financial Supervisory Authority of Norway, in its

capacity as the competent authority in Norway, and

published in accordance with the Prospectus Directive

as implemented in Norway) that has implemented the

Prospectus Directive, this communication is only

addressed to and is only directed at "qualified

investors" in that Member State within the meaning of

Article 2(1)(e) of the Prospectus Directive

("Qualified Investors"), i.e., only to investors to

whom an offer of securities may be made without the

requirement for the Company to publish a prospectus

pursuant to Article 3 of the Prospectus Directive in

such EEA Member State.

United Kingdom

In the United Kingdom, these materials are only being

distributed to and are only directed at Qualified

Investors who (i) are investment professionals

falling within Article 19(5) of the Financial

Services and Markets Act 2000 (Financial Promotion)

Order 2005 (as amended) (the "Order") or (ii) are

persons falling within Article 49(2)(a) to (d) of the

Order (high net worth companies, unincorporated

associations, etc.) (all such persons together being

referred to as "Relevant Persons"). These materials

are directed only at Relevant Persons and must not be

acted on or relied on by persons who are not Relevant

Persons. Any investment or investment activity to

which this document relates is available only to

Relevant Persons and will be engaged in only with

Relevant Persons.