North Energy ASA - Director's Dealing 2016

NORTH ENERGY - MANDATORY NOTIFICATION OF TRADE AND DISCLOSURE OF SHAREHOLDING

Oslo, 30 June 2016

With reference to the stock exchange notice published on June 24(th) regarding a

resolution by the general meeting of Isfjorden AS to distribute 100% of its

shares held in North Energy ASA to shareholders.

Subsequently to the distribution of shares by Isfjorden AS, Mr Didrik Leikvang,

financial advisor to North Energy and primary insider, has entered into an

agreement with existing shareholders to acquire 100% ownership in Isfjorden AS.

Subsequently to Mr Leikvang acquiring 100% ownership in the company, Isfjorden

AS has entered into an agreement with Kharybdis AS, a company also 100% owned by

Mr Leikvang, to acquire 2,003,737 shares in North Energy ASA from Kharybdis AS

at a price of NOK 1.30 per share. After acquiring the shares, Isfjorden AS will

hold 2,003,737 shares in North Energy ASA, equal to 1.68% ownership in North

Energy ASA and Kharybdis AS will hold no shares in North Energy ASA.

After completing the transactions, the number of shares beneficially owned by Mr

Leikvang is unchanged at 2,168,108, equal to 1.82% ownership in North Energy

ASA.

For further information, please contact:

Knut Sæberg, CEO

(+47) 918 00 720 | Email: [email protected]

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#2024581]

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