Statoil ASA: Subscription Price Set for the Dividend Issue for the Third Quarter 2017 Under the Scrip Dividend Programme

Reference is made to the announcement made on 26 October 2017 by Statoil ASA (OSE:STL, NYSE:STO) regarding the dividend issue for the third quarter 2017 ("the Dividend Issue").

The subscription price shall, in accordance with the resolution made by the annual general meeting on 11 May 2017, be equal to the volume-weighted average share price over the last two trading days) on Oslo Børs ("Oslo Stock Exchange") of the subscription period for the Dividend Issue (8 and 9 March 2018) , with a deduction of a discount of 5%.

The volume-weighted average share price for the respective trading days was NOK 177.85. The subscription price per share is consequently NOK 168.95.

The subscription price for the ADR holders will be equal to the Subscription Price converted into USD using the Central Bank of Norway's average closing exchange rate of the last two trading days of the Subscription Period (8 and 9 March 2018). The average exchange rate for these respective days was 7.8133. The subscription price per share for ADR-holders is consequently USD 21.62.

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