07.03.2019 16:46:51 CET

North Energy ASA - Reminder of share buyback program

Oslo, 7 March 2019

Reference is made to stock exchange notice from 27 February 2019 where North Energy ASA ("North Energy" or the "Company") announced a share buyback program.

This is a reminder of the deadline for accepting the offer, which is Friday 8 March at 1600.

North Energy offers the shareholders to sell the higher of 2,000 shares and 15% of their individual shareholding. Shareholders are free to tender more or all of their shares. If the total buyback exceeds 10% of the outstanding shares in the Company, the allocation will be reduced pro rata based on current ownership. The buyback price is set to NOK 1.90 per share.

The complete offer letter including an acceptance form is attached, and has been distributed to all shareholders by mail following the notice from 27 February 2019.

For further information, please contact:

Knut Sæberg, CEO

Mobile: +47 918 00 720 | E-mail: knut.saeberg@northenergy.no

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

Offer to buyback shares in North Energy ASA
Tilbud om tilbakekjop av egne aksjer i North Energy ASA