Norsk Hydro ASA — Director's Dealing 2017

Apr 3, 2017

Norsk Hydro: Primary insiders purchase shares under Long Term Incentive program and shares to employees

Norsk Hydro: Primary insiders purchase shares under Long Term Incentive program and shares to employees

Norsk Hydro ASA has a share-based Long Term Incentive (LTI) in the form of a

remuneration of 30 percent and 25 percent of annual base salary for the

President and CEO and the other members of the Corporate Management Board

respectively. The LTI payment requires that Hydro had a positive underlying EBIT

in the previous year. The participants will be required to invest the net amount

after tax in Hydro shares and such shares must be held for at least three years.

The terms of the LTI-plan are changing in 2017, to a potential of 30%

remuneration for all members of the CMB and payments will hereafter be based

partly on achieved return on capital employed, and partly on return on capital

employed measured against a weighted average of return on capital employed from

comparable companies.

The following primary insiders have on April 3rd 2017, acquired Hydro shares

under the above-mentioned program at NOK 48.83 per share.

+-----------------------------------+---------------+--------------------------+

|Name |Acquired shares|Holding after LTI purchase|

+-----------------------------------+---------------+--------------------------+

|President and CEO Svein Richard |20 351 |230 964 |

|Brandtzæg  | | |

+-----------------------------------+---------------+--------------------------+

|Executive Vice President and CFO |8 222 |50 024 |

|Eivind Kallevik | | |

+-----------------------------------+---------------+--------------------------+

|Executive Vice President Arvid Moss|8 222 |146 692 |

+-----------------------------------+---------------+--------------------------+

|Executive Vice President Hilde |8 833 |81 776 |

|Merete Aasheim  | | |

+-----------------------------------+---------------+--------------------------+

|Executive Vice President Kjetil |8 715 |47 346 |

|Ebbesberg  | | |

+-----------------------------------+---------------+--------------------------+

|Executive Vice President Anne-Lene |6 571 |20 710 |

|Midseim | | |

+-----------------------------------+---------------+--------------------------+

|Executive Vice President Inger |6 012 |18 673 |

|Sethov  | | |

+-----------------------------------+---------------+--------------------------+

|Executive Vice President Hanne |6 571 |19 135 |

|Karine Simensen  | | |

+-----------------------------------+---------------+--------------------------+

A total of 73 497 shares have been sold by Hydro to the participants in the Long

Term Incentive program. Hydro holds 26 030 663 own shares after this transaction

and the number of outstanding shares are 2 042 967 613.

In addition, all employees employed by Norsk Hydro in Norway have been offered

to purchase shares valued at NOK 25 000, with a 50 percent discount, under a

general arrangement offered each year. For employees taking part in this

arrangement, the share price is NOK 24.41 per share, for 511 shares, which will

be sold from Hydro's position of treasury shares by the start of May 2017.

The following primary insiders have under the scheme each agreed to purchase

511 shares:

- President and CEO Svein Richard Brandtzæg

- Executive Vice President and CFO Eivind Kallevik

- Executive Vice President Arvid Moss

- Executive Vice President Hilde Merete Aasheim

- Executive Vice President Kjetil Ebbesberg

- Executive Vice President Anne-Lene Midseim

- Executive Vice President Inger Sethov

- Executive Vice President Hanne Simensen

- Employee representative to the Board of Directors Billy Fredagsvik

- Employee representative to the Board of Directors Ove Ellefsen

- Employee representative to the Board of Directors Sten Roar Martinsen

- Company Secretary Ingeborg Margrethe Liahjell

Investor contact

Contact Stian Hasle

Cellular +47 97736022

E-mail Stian.Hasle@hydro.com

Press contact

Contact Halvor Molland

Cellular +47 92979797

E-mail Halvor.Molland@hydro.com

Cautionary note

Certain statements included in this announcement contain forward-looking

information, including, without limitation, information relating to (a)

forecasts, projections and estimates, (b) statements of Hydro management

concerning plans, objectives and strategies, such as planned expansions,

investments, divestments, curtailments or other projects, (c) targeted

production volumes and costs, capacities or rates, start-up costs, cost

reductions and profit objectives, (d) various expectations about future

developments in Hydro's markets, particularly prices, supply and demand and

competition, (e) results of operations, (f) margins, (g) growth rates, (h) risk

management, and (i) qualified statements such as "expected", "scheduled",

"targeted", "planned", "proposed", "intended" or similar.

Although we believe that the expectations reflected in such forward-looking

statements are reasonable, these forward-looking statements are based on a

number of assumptions and forecasts that, by their nature, involve risk and

uncertainty. Various factors could cause our actual results to differ materially

from those projected in a forward-looking statement or affect the extent to

which a particular projection is realized. Factors that could cause these

differences include, but are not limited to: our continued ability to reposition

and restructure our upstream and downstream businesses; changes in availability

and cost of energy and raw materials; global supply and demand for aluminium and

aluminium products; world economic growth, including rates of inflation and

industrial production; changes in the relative value of currencies and the value

of commodity contracts; trends in Hydro's key markets and competition; and

legislative, regulatory and political factors.

No assurance can be given that such expectations will prove to have been

correct.  Hydro disclaims any obligation to update or revise any forward-looking

statements, whether as a result of new information, future events or otherwise.

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.