COTIZACIÓN INTERNACIONAL

As of May 10, 2007, the Norwegian State owned 1,535,712,598 shares, representing 70.9% of the total number of ordinary shares of Statoil authorized and issued and 71.1% of the total shares of Statoil outstanding (excluding treasury shares). In addition, as of May 10, 2007, the Norwegian State owned 33,596,992 shares through the State Pension Fund, which is an administrative body forming part of the Norwegian State. These shares represent 1.55% of the total number of ordinary shares of Statoil and 1.56% of the total shares of Statoil outstanding. Statoil has not been notified of any other beneficial owners of five percent of more of Statoil’s ordinary shares as of May 10, 2007.

Following the merger, the Norwegian State will own through the Ministry of Petroleum and Energy (‘‘MPE’’) approximately 62.5 per cent of the ordinary shares of the merged company. The Norwegian State has made public its objective to remain a long-term shareholder in the merged company and the intention to increase over time its ownership interest in the merged company following the merger to 67 per cent.

For more information with respect to the relationships between the Norwegian State and Statoil please refer to Item 7 — Major Shareholders and Related Party Transactions of Statoil’’ in the Statoil 2006 Form 20-F incorporated by reference in this circular/prospectus.

Certain Information Concerning the Relationship of Norsk Hydro and the Norwegian State

As of May 10, 2007, the Norwegian State owned directly 563,773,605 shares, representing 43.8 per cent of the total number of ordinary shares of Norsk Hydro authorized and issued and 46 per cent of the total shares of Norsk Hydro outstanding (excluding non-voting treasury shares). In addition, as of May 10, 2007, the Norwegian State owned 47,868,635 Norsk Hydro shares through the State Pension Fund, which is an administrative body forming part of the Norwegian State. These shares represented 3.7 per cent of the total number of ordinary shares of Norsk Hydro authorized and issued and 3.9 per cent of the total shares of Norsk Hydro outstanding (excluding non-voting treasury shares). Consequently, the Norwegian State held 49.9 per cent of the voting rights for shares outstanding of Norsk Hydro as of May 10, 2007. The Norwegian State is the only person or entity known to Norsk Hydro to own beneficially, directly or indirectly, more than 5 per cent of Norsk Hydro’s outstanding shares. There are no different voting rights associated with the ordinary shares held by the Norwegian State. As of May 10, 2007, there were a total of 40,344 registered holders of Norsk Hydro’s shares resident in Norway.

The Norwegian State acquired most of its interest (47.7 per cent) in Norsk Hydro in 1945. From 1971, when the Norwegian State acquired shares and increased its ownership stake, and until July 1999, the Norwegian State owned 51 per cent of the total number of ordinary shares issued and outstanding. Ordinary shares issued in connection with the acquisition of Saga Petroleum ASA in July 1999 increased the total number of shares issued and outstanding with a corresponding decrease in the Norwegian State’s percentage ownership interest. Since 1945, the Norwegian State has not disposed of any of the ordinary shares owned by it, except when participating in the share buyback programs. However, there can be no assurance that it will not do so in the future. The Norwegian Ministry of Trade and Industry represents the Norwegian government in exercising the Norwegian State’s voting rights relating to the shares it holds directly. Acting through the Norwegian government, the Norwegian State, in its capacity as a shareholder, has never taken an active role in the day-to-day management of Norsk Hydro. However, since 1999 the total shareholder representation at the general meetings has not exceeded 65% and accordingly the State has exercised in excess of two thirds of the votes cast at the meetings. Following the demerger of Hydro Petroleum, the Norwegian State (excluding the State Pension Fund) will continue to have an ownership interest of 43.8 per cent of the total number of ordinary shares authorized and issued in Norsk Hydro.

Norsk Hydro’s annual general meeting on May 9, 2006 authorized the Norsk Hydro board to repurchase up to 22,470,482 shares in the market for subsequent cancellation. In connection therewith, the Norwegian State agreed to the redemption and the cancellation of a number of its shares proportional to the number of Norsk Hydro shares that are repurchased and cancelled. As a result, the Norwegian State’s ownership interest will remain unchanged following such repurchase and cancellation. The Norwegian State has undertaken to vote in favor of such cancellation and redemption at the extraordinary general meeting. Pursuant to the buyback agreement, the compensation to the Norwegian State for the redeemed shares will be determined by the volume weighted average price paid in the market under the buyback, plus interest at NIBOR + 1 per cent per annum, calculated from the dates of each purchase of shares until the time of cancellation. In accordance with the existing authorization and in reliance on the agreement with the Norwegian State, Norsk Hydro has acquired 21,627,000 treasury shares through purchases in the market. The board of directors of Norsk Hydro proposes, subject to the

approval by the extraordinary general meeting, that the company’s share capital be reduced by NOK 140,904,531.96 by (i) cancellation of such treasury shares and (ii) redemption of 16,871,506 shares owned by the Norwegian State against payment of an amount calculated as described above. See ‘‘The Norsk Hydro Extraordinary General Meeting’’.

During 2006, Norsk Hydro also redeemed 3,644,685 shares held by the Norwegian State at an average price of NOK 129.30 per share as part of a buyback authorization approved by the extraordinary general meeting on December 1, 2004. At the same time, Norsk Hydro executed a capital reduction by canceling 8,316,685 shares.