The board of directors has decided to make adjustments to the dividend policy in order to establish a more predictable dividend level going forward. The
new policy does not imply any change in the long-term dividend level, including potential share buy-backs, compared to the previous policy. The ambition is
to grow the annual cash dividend, measured in NOK per share, in line with long-term underlying earnings. When proposing the annual dividend level, the
board of directors will take into consideration expected cash flow, capital expenditure plans, financing requirements and appropriate financial flexibility.

In 2008, ordinary dividend was NOK 4.40 per share, as well as NOK 2.85 per share in special dividend for a total of NOK 7.25 per share and an aggregate
total of NOK 23.1 billion.

The Statoil share price development reflected the growing economic optimism as the share price is showing an upward trend during 2009, starting out 2
January 2009 at NOK 118.40, ending up at NOK 144.80 at the end of 2009.