Reference is made to the announcement made on 29 August 2016 by Statoil ASA (OSE:STL, NYSE:STO) regarding the dividend issue for the first quarter 2016 (“the Dividend Issue”).

The subscription price shall, in accordance with the resolution made by the board of directors on 26 July 2016,be equal to the volume-weighted average share price over the last two trading days (8 and 9 September 2016) on Oslo Børs (“Oslo Stock Exchange”) of the subscription period for the Dividend Issue, with a deduction of a discount of 5%.

The volume-weighted average share price for the respective trading days was NOK 133.23. The subscription price per share is consequently NOK 126.57.

For holders of American Depositary Receipts, the applicable USDNOK exchange rate has been defined as the average of the Central Bank of Norway's exchange rate over the last two trading days of the Subscription Period for the Dividend Issue. The average exchange rate for these respective days was 8.1732. The subscription price per share for ADR-holders is consequently USD 15.49.