Approval of the intra-group merger between North Energy ASA and North Energy Capital AS

28.5.2020 11:50:12 CEST | North Energy ASA | Additional regulated information
required to be disclosed under the laws of a member state

Reference is made to the stock exchange notice of 24 April 2020 and the
announcement of the merger plan of 27 April 2020 by the Norwegian Register of
Business Enterprises. The Board of Directors in North Energy ASA and North
Energy Capital AS have approved the merger between the companies.

The merger will be conducted as a parent company merger pursuant to the
simplified rules for intra-group mergers as set out in Section 13-24 of the
Public Limited Companies Act.

The merger is expected to enter into force after the end of the six weeks'
notice period for creditors and before the end of the year.

The merger plan including all attachments can be found on the website
www.northenergy.no [http://www.northenergy.no].

DISCLAIMER

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

CONTACTS

* Knut Sæberg, CEO, +47 918 00 720, knut.saeberg@northenergy.no