North Energy ASA - Proxy Solicitation & Information Statement 2016

North Energy ASA: Proxy Rights at Extraordinary General Meeting

Oslo, 13 May 2016

Anders Onarheim, Chairman of the Board of North Energy ASA, has in connection

with the upcoming Extraordinary General Meeting on 18 May 2016, received proxy

rights from shareholders representing 14,293,891 shares in the company, equal to

12.01 per cent of the voting rights. Anders Onarheim owns as per the

registration date for the EGM 10,578,274 shares, equal to 8.89 per cent of the

voting rights, via his fully owned company AB Investment AS. Anders Onarheim

will also represent Isfjorden AS on the EGM. Isfjorden AS owns 8,570,651 shares,

equal to 7.20 per cent of the voting rights. After the receipt of the above-

mentioned proxies, Onarheim represents a total of 33,442,816 shares, equal to

28.09 per cent of the voting rights at the extraordinary General meeting in

North Energy ASA.

For further information:

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#2012595]

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