Article of association

Articles of Association for NBT AS (per 2nd August 2018)

 1. The company’s name is NBT AS.

 2. The company’s registered address is in Oslo.

 3. The company’s purpose is development of renewable energy production, including taking ownership in
     companies within renewable energy or associates areas of businesses. The company may also take part in
     import/export of equipment and services within renewable energy, including investments in companies with
     technology and competence within renewable energy or associated areas of business.

 4. The company’s share capital is NOK 3,376,715.60 with 33,767,156 shares with par value of NOK 0.10.

 5. The company’s Board of Directors shall consist of 3-7 members.

 6. Authorized signatories on behalf of the company are the Chairman of the Board together with the
     Chief Executive Officer, and the Chairman of the Board and the Chief Executive Officer together with
     one Board Member.

 7. The company’s shares are freely transferable.

 8. The Annual General Meeting shall consider and resolve on the following matters:
i.    Approve the annual accounts and the Board of Directors Annual Report, including distribution of dividends.  
ii.   Election of members to the Board of Directors
iii.  Approving the compensation to the members of the Board of Directors
iv.  Approving the compensation to the company’s accountant
v.   Other matters which according to law or the Articles of Association shall be dealt with by the
General Meeting

 9. The company’s shares shall be registered in the Norwegian Registry of Securities (VPS).