Equinor — Capital/Financing Update 2016

Aug 29, 2016

Statoil ASA: Publication of prospectus and commencement of subscription period for the Dividend Issue for the first quarter 2016 under the Scrip Dividend Programme - FOR SHAREHOLDERS IN NORWAY

Statoil ASA: Publication of prospectus and commencement of subscription period for the Dividend Issue for the first quarter 2016 under the Scrip Dividend Programme - FOR SHAREHOLDERS IN NORWAY

Reference is made to the previous announcements by Statoil ASA (OSE:STL,

NYSE:STO, the "Company") regarding the resolution made by the annual general

meeting on 11 May 2016 to approve the two year scrip dividend programme

commencing from the fourth quarter 2015 (the "Scrip Dividend Programme") and to

distribute a dividend of USD 0.2201 (NOK 1.8255, as announced 17 August 2016)

per share for the first quarter of 2016 that shareholders can choose to receive

either in new shares of the Company ("Dividend Shares") or in cash.

In connection with the Scrip Dividend Programme for the first quarter 2016 (the

"Dividend Issue"), the Company will issue up to 60,000,000 Dividend Shares, each

with a nominal value of NOK 2.50 per share, for subscription by Existing

Shareholders (as described below).

Approved Prospectus:

The Norwegian Financial Supervisory Authority (Finanstilsynet) approved on 27

August 2016 the prospectus for the offering of the Dividend Shares to Existing

Shareholders in Norway.

The Prospectus is available at www.statoil.com/scrip, where hard copies may also

be ordered.

Subscription period:

The subscription period for the Dividend Issue will commence at 09:00 a.m. CEST

on 29 August 2016 and expire at 23:59 p.m. CEST on 9 September 2016 (the

"Subscription Period").

Existing Shareholders who have not subscribed for Dividend Shares at the time of

expiry of the Subscription Period will receive their dividend in cash without

any action on their part on or about 23 September 2016.

Subscription price:

The subscription price will be set as the volume-weighted average share price

over the last two trading days on Oslo Børs (the "Oslo Stock Exchange") of the

Subscription Period for the Dividend Issue, with a deduction for a discount of

5%. The subscription price is expected to be announced on or about 12 September

Subscription procedures:

Subscriptions for Dividend Shares can be made electronically via VPS' online

subscription system. A link to the subscription system can be found on

www.statoil.com/scrip. Existing Shareholders who are considered eligible to

subscribe for Dividend Shares have or will receive a letter from the Company

with personal log in details to the VPS subscription system.

Eligibility to participate in the Dividend Issue:

Shareholders of the Company holding shares as of 9 August 2016 and who were

registered with the Company's shareholder register in the Norwegian central

security depository (VPS) as of close of business 11 August 2016 (the record

date) ("Existing Shareholders") are entitled to elect to either subscribe for

Dividend Shares during the Subscription Period or receive their dividend in

cash.

The subscription for Dividend Shares by persons located in, or resident of

countries other than Norway, may be affected by the laws of the relevant

jurisdiction. The Dividend Shares may not be subscribed for by Existing

Shareholders located in or resident of, jurisdictions in which the subscription

for Dividend Shares would be unlawful. Existing Shareholders located in, or

resident of, countries other than Norway, should inform themselves as to whether

restrictions apply to the Dividend Issues and consult their professional

advisors if they are in any doubt about any of the contents or application of

these restrictions.

Settlement:

The issue of the Dividend Shares is expected to take place on or about 22

September 2016, and the delivery of the Dividend Shares on Oslo Børs is expected

to take place on or about 23 September 2016. Delivery of the ADRs representing

Dividend Shares is expected to take place on or about 26 September 2016. Trading

in the Dividend Shares on Oslo Børs and in the ADRs representing Dividend Shares

on NYSE is expected to commence on or about 26 September 2016.

Cash payment of the dividend to holders of ordinary shares on Oslo Børs is

expected to be on or about 23 September 2016. Cash payment of the dividend to

holders of ADRs is expected to be on or about 26 September 2016.

Interests held through financial intermediaries:

Shareholders, who are eligible for participation in the Dividend Issue and who

hold their Shares through a financial intermediary and wish to subscribe for

Dividend Shares in the Dividend Issue, should instruct their financial

intermediary to subscribe for Dividend Shares in accordance with the applicable

instructions received from such financial intermediary. The financial

intermediary will be responsible for collecting exercise instructions from the

shareholders and for informing the Company of their subscription instructions.

DNB Bank ASA, Registrars Department (tel.: +47 23 26 80 20) is acting as

Receiving Agent for the Dividend Issue.

Contact persons:

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

This information is subject of the disclosure requirements acc. to § 5-12 vphl

(Norwegian Securities Trading Act)

This announcement and the information contained herein does not constitute or

form a part of, and should not be construed as, an offer for sale or

subscription for or solicitation or invitation of any offer to subscribe for or

purchase of dividend shares or any other securities of the Company and cannot be

relied on for any investment contract or decision.

It may be unlawful to distribute this announcement in certain jurisdictions.

This announcement is not for distribution in any jurisdiction in which prior

registration or approval is required for that purpose. No steps have been taken

or will be taken in any jurisdiction outside of Norway in which such steps would

be required. No competent authority or any other regulatory body has passed upon

the adequacy of this document or approved or disapproved the distribution of

dividend shares outside of Norway. Any representation to the contrary may be a

criminal offense.