Noreco - New Share Capital Registered Following Share Capital Reduction

29 Dec 2022 09:22 CET

Oslo, 29 December 2022: Reference is made to the stock exchange notice published
by Norwegian Energy Company ASA (the "Company") on 19 May 2022 where the Company
announced that it had held its annual general meeting ("AGM").

Pursuant to the AGM minutes, the AGM resolved to reduce the share capital of the
Company with NOK 243,206,086.1579111 by reducing the nominal value of the
shares. The share capital reduction has been registered in the Norwegian
Registry of Business Enterprises on 28 December 2022. Following the share
capital reduction, the Company's share capital is NOK 13,878,165.673708 divided
on 25,708,424 shares, each with a nominal value of NOK 0.5398295.

***

Contact:

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

Important information

The release is not for publication or distribution, in whole or in part directly
or indirectly, in or into Australia, Canada, Japan or the United States
(including its territories and possessions, any state of the United States and
the District of Columbia) or in any other jurisdiction where such publication or
distribution is unlawful. This release is an announcement issued pursuant to
legal information obligations, and is subject of the disclosure requirements
pursuant to section 5-12 of the Norwegian Securities Trading Act. It is issued
for information purposes only, and does not constitute or form part of any offer
or solicitation to purchase or subscribe for securities, in the United States or
in any other jurisdiction. The securities mentioned herein have not been, and
will not be, registered under the United States Securities Act of 1933, as
amended (the "US Securities Act"). The securities may not be offered or sold in
the United States except pursuant to an exemption from the registration
requirements of the US Securities Act. This information is subject to disclosure
requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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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