Withdrawal of NOR13 Ruling

16 Dec 2022 21:03 CET

Oslo, 16 December 2022: Reference is made to the announcement made by Norwegian
Energy Company ASA ("Noreco" or the "Company") on 29 November 2022 regarding the
temporary injunction ("Ruling") related to amendments to Noreco's convertible
bond issue NOR13 with ISIN NO 0010851520  as described therein ("NOR13
Amendments").

Noreco has been informed by the plaintiffs Astaris Special Situations Master
Fund Limited and Gertjan Koomen that they have filed a request to the Oslo
District Court to have the Ruling withdrawn.

Noreco continues to be focused on ensuring that its capital structure is set for
current and future priorities and is looking forward to continuing a
constructive relationship with all its stakeholders, including Astaris and
Koomen.


Noreco will revert when the Ruling is confirmed lifted and the effects this will
have for the NOR13 Amendments.


Contact:
Cathrine Torgersen, EVP Investor Relations & ESG
Email: ct@noreco.com
Phone: + 47 915 28 501

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About Norwegian Energy Company ASA
Noreco is a publicly owned company with focus on the oil, gas and offshore
industry. The Company's shares are listed on the Oslo Stock Exchange (ticker
NOR). For further information, please visit: www.noreco.com.

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