North Energy ASA - Director's Dealing 2016

North Energy ASA - Mandatory notifications of trade and disclosure of shareholdings

Oslo, 6 May 2016

Anders Onarheim, Chairman of the Board of Directors of North Energy ASA, has

purchased 200,000 shares at NOK 1.22 per share via his fully owned company AB

Investment AS. The total number of shares beneficially owned by Onarheim through

AB Investment AS and Isfjorden AS after the transaction is 12,598,070, which

equals 10.58% ownership in North Energy ASA.

Knut Sæberg, CEO of North Energy ASA, has purchased 25,000 shares at NOK 1.22.

Total number of shares owned after the transaction is 567,869.

Kristen Berli SVP Business Development, has purchased 25,000 shares at NOK

1.22. Total number of shares owned after the transaction is 338,363.

Didrik Leikvang, financial advisor to North Energy ASA and primary insider, has

purchased 100,000 shares at NOK 1.22 per share via his fully owned company

Kharybdis AS. The total number of shares beneficially owned by Leikvang through

Kharybdis AS and Isfjorden AS after the transaction is 1,593,106, which equals

1.34% ownership in North Energy ASA.

Anders Onarheim and Didrik Leikvang are both associated with Isfjorden AS, which

owns a total of 8,570,651 shares (7.2%) in North Energy ASA.

For further information, please contact:

Knut Sæberg, CEO

Mob: (+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#2010265]

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