Equinor — AGM Information 2017

May 11, 2017

Statoil ASA: Annual general meeting approves dividend of USD 0.2201 per share for fourth quarter 2016 and continuation of the two-year scrip programme through third quarter 2017

Statoil ASA: Annual general meeting approves dividend of USD 0.2201 per share for fourth quarter 2016 and continuation of the two-year scrip programme through third quarter 2017

On 11 May 2017, the annual general meeting of shareholders in Statoil ASA (OSE:

STL, NYSE: STO) approved the annual report and accounts for Statoil ASA for

2016, as proposed by the board of directors.

The annual accounts and the annual report for Statoil ASA and the Statoil group

for 2016 were approved, and a dividend of USD 0.2201 per share will be

distributed for the fourth quarter of 2016. The dividend accrues to the holders

of the American Depository Receipts (ADRs) listed on the New York Stock Exchange

as of 10 May 2017. The dividend accrues to the company's shareholders on Oslo

Stock Exchange (Oslo Børs) as of 11 May 2017.

As of 11 May 2017, ADRs listed on the New York Stock Exchange will be traded ex-

dividend. Statoil's shares listed on the Oslo Børs will be traded ex-dividend as

of 12 May 2017. The expected dividend payment date for Statoil's shares on Oslo

Børs is 23 June 2017. The expected payment date for dividends in USD under the

ADR program is 26 June 2017.The general meeting authorised the board of

directors to resolve quarterly dividend payments until the next ordinary annual

general meeting.

The general meeting approved to continue the two-year scrip dividend programme

through third quarter 2017. The scrip dividend programme offers shareholders the

option to receive all or part of the quarterly dividend in cash or in newly

issued shares in Statoil. Under the programme, the general meeting resolved a

share capital increase for dividend related to fourth quarter 2016, and gave

authorisation to the board of directors to increase the share capital in

connection with payment of dividend for first quarter to third quarter 2017.

In the dividend issue relating to the dividend for the fourth quarter of 2016,

up to 160,000,000 new shares will be issued. There will be a subscription period

of at least ten days for the dividend issue, expected to commence in the end of

May. The subscription price shall be set to the volume-weighted average share

price on Oslo Børs of the last two trading days of the subscription period for

the dividend issue, with a deduction for a discount of 5%. Further information

will be provided prior to the commencement of the subscription period.

The general meeting endorsed the board's report on Corporate Governance.

Furthermore, the general meeting endorsed the board's declaration on stipulation

of salary and other remuneration for executive management, and approved the

parts of the proposal related to remuneration linked to the development of the

company's share price. Remuneration to the company's external auditor was also

approved.

The general meeting authorised the board to acquire shares in Statoil ASA in the

market in order to continue the share saving plan for employees. The general

meeting also authorised the board to acquire shares in Statoil ASA in the market

for subsequent annulment.

The annual general meeting approved that adjustments in the Marketing

Instruction for Statoil ASA, adopted by the annual general meeting on 25 May

2001, can be made to the provisions concerning applicable pricing- and

allocation principles for natural gas, and in particular LNG, so that Statoil

has the necessary incentives to maximize the total value of the State's and

Statoil's petroleum and ensure fair distribution at any time. The adjustments

are made by the Norwegian State represented by the Ministry of Petroleum and

Energy.

Prior to the AGM, a shareholder had proposed that Statoil refrains from drilling

exploration wells in PL859 (Korpfjell) and PL855 (Gemini North) whilst the

question of whether the licenses granted in the 23rd licensing round are illegal

and violate the Norwegian Constitution is still pending in the courts. The

shareholder's proposal was not adopted.

A proposal from a shareholder had been submitted in advance, suggesting that the

board presents a revised strategy reflecting the company's joint responsibility

for helping meet the current energy demand within the framework of national and

international climate targets. This proposal was not adopted.

Another proposal also submitted by a shareholder was that Statoil would

establish a risk management investigation committee. This proposal was not

adopted.

A shareholder had proposed that the board of Statoil ASA presents a strategy for

and environmental impact assessment of, full discontinuation of all new

exploration activities and test drilling for fossil energy resources. The

shareholder's proposal was not adopted.

A shareholder had proposed that the board of directors of Statoil ASA, in their

risk management oversight functions, should direct Statoil Management to appoint

a new Chief Geologist with a clear mandate to reinstate updated versions of pre-

merger actuarial based risk management processes. The shareholder's proposal was

not adopted

Please find enclosed the complete minutes of the annual general meeting.

Contact persons:

Investor relations

Peter Hutton, senior vice president for investor relations,

tel: +44 7881 918 792

Morten Sven Johannessen, vice president for investor relations USA,

tel: + 1 203 570 2524

Press

Bård Glad Pedersen, vice president for media relations,

tel: +47 91 80 17 91

This information is subject to the disclosure requirements pursuant to section

5 -12 of the Norwegian Securities Trading Act.