North Energy ASA — M&A Activity 2019

Nov 13, 2019

Completion of the intra-group merger between North Energy ASA and North Energy Norge AS

Completion of the intra-group merger between North Energy ASA and North Energy Norge AS

Oslo, 13 November 2019

Reference is made to the stock exchange notice of 26 September 2019 where the

Board of Directors in North Energy ASA and North Energy Norge AS approved the

merger between the companies.

The creditor notice period has expired and the completion of the merger has now

been registered with the Norwegian Register of Business Enterprises.

The merger has been conducted as a parent company merger pursuant to the

simplified rules for intra-group mergers as set out in Section 13-24 of the

Public Limited Companies Act.

The registration implies that all of North Energy Norge AS' employees, assets,

rights and obligations have been transferred to North Energy ASA without

consideration and North Energy Norge AS has been dissolved and deleted from the

Norwegian Register of Business Enterprises.

For further information, please contact:

Knut Sæberg, CEO

(+47) 918 00 720 | Email: knut.saeberg@northenergy.no

(mailto:knut.saeberg@northenergy.no)

This information is subject to the disclosure requirements pursuant to section

5 -12 of the Norwegian Securities Trading Act.