Nel ASA — Major Shareholding Notification 2015

Feb 27, 2015

Mandatory notification of trade and disclosure of large shareholding in NEL ASA

Mandatory notification of trade and disclosure of large shareholding in NEL ASA

Board of Directors of Saga Invest Holding AS, a wholly

owned subsidiary of Saga Tankers ASA, and Strata Marine &

Offshore AS have on 26 February 20145 approved and signed a

merger plan. The merger is subject to approval by the

general meeting in the respective companies on or about 27

March 2015.

If the transaction is completed Saga Invest Holding AS

ownership in NEL ASA will be increased by 43 989 439 shares

corresponding to 11%.

If the transaction is completed Strata Marine & Offshore AS

ownership in NEL ASA will be reduced by 43 989 439 shares

corresponding to 11%.

After the transaction Øystein Stray Spetalen, board member

of NEL ASA, and associated companies will have a holding of

75 066 362 shares, corresponding to 18.8% of the company.