Norwegian Energy Company ASA - Mandatory Notification of Trade

29 Dec 2022 15:19 CET

Oslo, 29 December 2022: Reference is made to the Exchange Offer regarding NOR13
and NOR15 convertible bonds issued by Norwegian Energy Company ASA ("Noreco" or
the "Company") as announced by the Company, including the resolution made by the
Extraordinary General Meeting of Noreco on 28 December 2022.

Funds managed by Taconic Capital Advisors UK LLP have accepted the Exchange
Offer corresponding to the full amount of its previous ownership in NOR13.

Please see attached notification form in accordance with the Market Abuse
Regulation article 19.

This information is subject to the disclosure requirements pursuant to Section 5
-12 the Norwegian Securities Trading Act.

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579346_PDMR_notification_form_Taconic.pdf