Forward looking statements

This presentation material contains certain forward-looking statements that involve risks and These forward-looking statements reflect current views about future events and are, by uncertainties. In some cases, we use words such as "ambition", "continue", "could", "estimate", their nature, subject to significant risks and uncertainties because they relate to events "expect", "focus", "likely", "may", "outlook", "plan", "strategy", "will", "guidance" and similar and depend on circumstances that will occur in the future. There are a number of factors expressions to identify forward-looking statements. All statements other than statements of that could cause actual results and developments to differ materially from those historical fact, including, among others, statements regarding future financial position, results of expressed or implied by these forward-looking statements, including levels of industry operations and cash flows; changes in the fair value of derivatives; future financial ratios and product supply, demand and pricing; price and availability of alternative fuels; currency information; future financial or operational portfolio or performance; future market position and exchange rate and interest rate fluctuations; the political and economic policies of Norway conditions; business strategy; growth strategy; future impact of accounting policy judgments; and other oil-producing countries; EU directives; general economic conditions; political sales, trading and market strategies; research and development initiatives and strategy; market and social stability and economic growth in relevant areas of the world; Euro-zone outlook and future economic projections and assumptions; competitive position; projected uncertainty; global political events and actions, including war, terrorism and sanctions; regularity and performance levels; expectations related to our recent transactions, projects and security breaches, including breaches of our digital infrastructure (cybersecurity); changes discoveries, such as the Wintershall agreement, the agreement with OMV and discoveries in the or uncertainty in or non-compliance with laws and governmental regulations; the timing of Bay du Nord prospect in the Flemish Pass Basin offshore Newfoundland as well as on the NCS; bringing new fields on stream; an inability to exploit growth or investment opportunities; the termination of the full-scale carbon capture project at Mongstad; Statoil's interest in the material differences from reserves estimates; unsuccessful drilling; an inability to find and OMV-operated Wisting Central oil discovery in the Hoop area; completion and results of develop reserves; ineffectiveness of crisis management systems; adverse changes in tax acquisitions, disposals and other contractual arrangements; reserve information; future margins; regimes; the development and use of new technology; geological or technical difficulties; projected returns; future levels, timing or development of capacity, reserves or resources; future operational problems; operator error; inadequate insurance coverage; the lack of decline of mature fields; planned maintenance (and the effects thereof); oil and gas production necessary transportation infrastructure when a field is in a remote location and other forecasts and reporting; domestic and international growth, expectations and development of transportation problems; the actions of competitors; the actions of field partners; the production, projects, pipelines or resources; estimates related to production and development actions of governments (including the Norwegian state as majority shareholder); levels and dates; operational expectations, estimates, schedules and costs; exploration and counterparty defaults; natural disasters and adverse weather conditions, climate change, development activities, plans and expectations; projections and expectations for upstream and and other changes to business conditions; failure to meet our ethical and social downstream activities; oil, gas, alternative fuel and energy prices; oil, gas, alternative fuel and standards; an inability to attract and retain personnel; relevant governmental approvals energy supply and demand; natural gas contract prices; timing of gas off-take; technological (including in relation to the agreement with Wintershall); industrial actions by workers and innovation, implementation, position and expectations; projected operational costs or savings; other factors discussed elsewhere in this report. Additional information, including projected unit of production cost; our ability to create or improve value; future sources of information on factors that may affect Statoil's business, is contained in Statoil's Annual financing; exploration and project development expenditure; effectiveness of our internal policies Report on Form 20-F for the year ended December 31, 2012, filed with the U.S. Securities and plans; our ability to manage our risk exposure; our liquidity levels and management; and Exchange Commission, which can be found on Statoil's website at www.statoil.com. estimated or future liabilities, obligations or expenses and how such liabilities, obligations and expenses are structured; expected impact of currency and interest rate fluctuations; Although we believe that the expectations reflected in the forward-looking statements are expectations related to contractual or financial counterparties; capital expenditure estimates and reasonable, we cannot assure you that our future results, level of activity, performance or expectations; projected outcome, objectives of management for future operations; impact of PSA achievements will meet these expectations. Moreover, neither we nor any other person effects; projected impact or timing of administrative or governmental rules, standards, decisions, assumes responsibility for the accuracy and completeness of the forward-looking standards or laws (including taxation laws); estimated costs of removal and abandonment; statements. Unless we are required by law to update these statements, we will not estimated lease payments and gas transport commitments are forward-looking statements. You necessarily update any of these statements after the date of this report, either to make should not place undue reliance on these forward-looking statements. Our actual results could them conform to actual results or changes in our expectations. differ materially from those anticipated in the forward-looking statements for many reasons, including the risks described above in "Financial Risk update".

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Oil and gas prices – volatility is part of the game Higher oil prices and gas prices in Europe, decoupled gas in North America

Oil price Gas prices Brent blend (USD/bbl, 2013 prices) Henry Hub and NBP (USD/MMBtu, 2013 prices)

150 20 Actual NBP actual 120 Historical average NBP Historical average 15 HH actual HH historical average 90 10 60

5 30

0 0 1970 1980 1990 2000 2010 1975 1985 1995 2005

4 Kilder: Reuters EcoWin, Statoil. Uncertainty is something we are always facing … which makes predictions valuable and disagreements profitable …

Dow Jones Industrial Average Dow Jones Industrial Average Dow Jones Industrial Average Monthly change (%)

18000 100000 50

16000 40 10000 14000 30 12000 20 1000 10000 10 8000 100 0 6000 -10 4000 10 2000 -20

0 1 -30

1900 1912 1924 1936 1948 1960 1972 1984 1996 2008

1926 1900 1913 1939 1952 1965 1978 1991 2004

1900 1913 1926 1939 1952 1965 1978 1991 2004

5 Source: Reuters EcoWin

A strong trend affecting economics and energy Economic gravity moves (back) to the east, and so does energy demand

The global economic centre of gravity Shifting energy demand Based on geographical weighting of GDP Share in global energy demand, %

100

75

50

25

0 2000 2010 2020 2030 2040 Rest of world India China OECD Pacific OECD Europe OECD North America

6 Source: McKinsey (map), IEA, Statoil Growth, efficiency and energy demand Non-OECD driving growth, energy efficiency to improve by almost 40%

Economic growth Growth and energy intensity Global energy demand Annual change in GDP (%) Growth (%) and toe/million 2005-USD TPED, bn toe

'91-00 '01-10 11-20 20 8 21-30 '31-40 8 300 International bunkers Other non-OECD Non-OECD Asia OECD 6 15 4 200

4 10

0 100 2 5 TPED GDP 0 Energy intensity (rhs) OECD Non- Other -4 0 0 OECD non- 1990 2000 2010 2020 2030 2040 1990 2000 2010 2020 2030 2040 Asia OECD

7 Source: IHS Global Insight and IEA, Statoil Fossil fuels are here to stay Emerging economies drive demand growth – oil demand peaks ~ 2030

Global oil demand Global gas demand ex bio fuels, mbd 1000 bcm

150 6 International bunkers International bunkers Other non-OECD 125 Non-OECD Asia 5 Other non-OECD OECD Non-OECD Asia 100 4 OECD

75 3

50 2

25 1

0 0 1990 2000 2010 2020 2030 2040 1990 2000 2010 2020 2030 2040

8 Source: IEA, Statoil Global economy: cautious improvement Slow and uneven growth, but still on track for a gradual acceleration

Economic growth 2000-2015 • US economy Annual change in GDP (%) – Some GDP loss from shutdown expected 15 OECD in 4Q 2013, but still on track for stronger Non-OECD USA growth China – Debt ceiling looms in 2014 10 • Eurozone – Out of record long recession, finally 5 – Will continue to grow over the final quarter of 2013 and beyond, but growth will be muted 0 • Japan sees temporary boom China’s recent uptick underpinned by -5 • 2000 2005 2010 2015 policy support and improved exports • Risk and uncertainty remain elevated

9 Source: IHS Global Insight and Statoil Classification: 9 Oil price action and global gas price dynamics Medium-term oil price stability, persistent regional differences in gas pricing

Brent Crude Oil Natural Gas and LNG Prices USD/bbl USD/MMBtu

130 Dated Brent ICE Brent Dec 2017

120

110

100

90

80 Oct 10 Apr 11 Oct 11 Apr 12 Oct 12 Apr 13 Oct 13

10 The fruits of the Arab Spring: oil at USD 110+ Mounting supply loss in MENA neutralises the US tight oil revolution

Crude supply losses US onshore growth mbd mbd

4.0 4.0 Yemen Nigeria 3.5 3.5 Syria Sudans 3.0 Iraq Iran 3.0 Libya 2.5 2.5

2.0 2.0

1.5 1.5

1.0 1.0

0.5 0.5

0.0 0.0 July 10 July 11 July 12 July 13 July 10 July 11 July 12 July 13

11 Medium-term weakness in oil markets Strong North American supply growth dominates market for years to come

Global oil balance Annual non-Opec supply growth Supply capacity, demand and Opec spare (mb/d) mb/d

105 8 1.5 100 Supply capacity 7

95 6 1.0 Demand 90 5 0.5 85 4

80 3 0.0 Opec spare 75 capacity (rhs) 2 -0.5 Rest Non-Opec 70 1 North America

65 0 -1.0 2005 2007 2009 2011 2013 2015 2017 2019

12 The long-term supply challenge remains The supply sources that will replace declining production are not cheap

Crude oil supply, by status Estimates of long-term breakeven costs mbd

90

80

70

60

50

40 Yet to find 30 Discovered, not started 20 New fields 10 Base production 0 2010 2015 2020 2025 2030 2035

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A major gas player with Europe as gravity point

• Recent highlights NCS − Major gas discoveries offshore Tanzania Caspian − Aasta Hansteen and Polarled – developing a new NCS gas province TAP SCP

TANAP Shah − Long term sales agreements for Shah Deniz Deniz gas − Innovative gas to power contract with Stadtwerke Düsseldorf − Deliveries of Marcellus gas to Toronto and New York City Toronto Production area

New York City

Statoil pipelines to premium markets US shale gas Tanzania

Statoil offices with Natural Gas business activities

16 Market prices remain high

• Very strong 2012 average invoiced gas European gas prices* prices, downward correction this year NOK/SM3 USD/MMBtu 3.50 14 3.00 12 NBP day- 2.50 10 ahead 2.00 8 1.50 6 • Reduced NCS volumes vs 2012 1.00 4 ICE NBP 0.50 2 FW @ 1 Nov. 2013

− Lower output from Troll 0.00 0

Jul-12

Apr-11 Oct-13

Jan-10 Jun-10

Mar-14

Feb-12

Nov-10 Sep-11 Dec-12 Aug-14 − Asset divestments May-13

Entitlement gas sales** • NCS reduction offset by higher US (mcm/day)

147 volumes 136 131 122 119 107 113 114 107 114 109

2008 2009 2010 2011 Q1 Q2 Q3 Q4 Q1 Q2 Q3

2012 2013 YTD 129 mcm/d 119 mcm/d

17 Sources: *ICE, ICIS Heren, **Statoil Robust outlook for European gas demand

• Gas demand to recover post 2020 Power sector drives demand recovery bcm − Stable demand in heating and industry − Coal phase-out will increase need for gas 700 power for baseload and back-up 600

− Increased use of gas for ships and heavy 500 trucks 400

300 • Uncertainties 200 100 − Continued competition from cheap coal 0 and subsidised renewables 2010 2012 2015 2020 2025 2030 − Growth in power demand Other Res/Com Industry Power Transport − Energy efficiency in heating sector

18 Source: IHS CERA A European supply gap is emerging

• Europe will require new gas supplies European supply gap towards 2030 bcm − Demand recovery − Falling indigenous production 700 − Strong competition for LNG 600

− Few low-cost options for new supply 500

400

• Uncertainties 300 − US LNG supplies to Europe 200 − European shale gas 100 0 − Russian exports Demand Decline Demand Supply gap 2012 indigenous growth 2030 production

19 Sources: IHS CERA, Statoil Statoil’s sales strategy

• Liberalisation gives access to new Relative change in Statoil’s sales customers and sales channels channel mix in Europe − Increasing short-term sales on liquid European hubs ~25% − New relationships with end users ~10%

~65% • Maintaining and modernising long-term contracts − Indexes reflecting market realities − Entering into new partnerships

Traded markets Sales directly to end users Sales through long-term contracts

20 Source: Statoil Trading: utilizing flexibility to capture value

• Strong marketing and trading competence to leverage market opportunities

• Upstream and downstream flexibility adding value on European hubs

• Trading LNG cargoes to maximize value

Melkøya LNG

21 Sources: Oxford Institute of Energy Studies, Statoil New opportunities in new segments

• Expanding direct sales to new customer segments − Power plants − Large industries − Distribution companies

• Recent gas sale to Stadtwerke Düsseldorf − 600 mcm/year 2016-2030 − Enables construction of a highly efficient CHP gas plant − Risk and reward sharing through element of electricity indexing

Stadtwerke Düsseldorf delivers energy and other public services to a city of 600 000 inhabitants

22 Source: Stadtwerke Düsseldorf Caspian gas – new supply corridor to Europe

• Shah Deniz stage 2 Shah Deniz Consortium − Final Investment Decision planned late 2013 Statoil BP − 16 bcm/y to Europe from 2019 SOCAR Total Lukoil NICO • 25 year contract for gas to Europe TPAO − Nine different customers − Greece and Bulgaria (2 bcm/y) − Italy (8 bcm/y)

SCP TAP TANAP • Trans Adriatic Pipeline (TAP) selected Turkey Shah Deniz as access point

23 Source: Statoil Capturing value in the US gas market

• Large price spreads between Marcellus production basin and consumer markets • Securing capacity rights to growth markets − Toronto region from November 2012 − New York City from November 2013 • Exploring new mid- and downstream opportunities for Southern Marcellus Price spread vs production area reference (TGP Zone 4 Marcellus) − Sales of gas liquids − Options to reach premium markets 8 7 Toronto (ECDA) 6 5 New York 4 (Transco Z6) 3 2

(USD/mmbtu) 1 0 Price spread vs TGP Z4 TGP vs spread Price Feb-12 Feb-13 Feb-14 Feb-15

Sources: Platts, NGX, Kiodex, Statoil Analysis. 24 The reference forward curve for TGP Z4 is a proxy price based on quotes from various brokers Concluding remarks

• The European gas market is recovering and outlook is robust • Statoil’s marketing and trading strategy is designed to capture new opportunities in a changing market • Developing new gas value chains to expand the global gas portfolio

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Statoil procurement Strategy

• Utilise the global supplier market Principles

• Competition • Transparency • Non discrimination • Equality

Expectations • Safety • Quality and high standards • Social Responsibility

28 Supplier industry importance Statoil procurement 2012: ~BNOK 145

BNOK 150 ~145 Business 124.1 18 32.5 support 26.3 Capital 39 100 projects CAPEX OPEX Drilling 44 & well 50 97.8 111.1 Maintenance DRILLEX 44 and modifications

2011 2012 Procurement international Procurement in Norway

29 Upstream operator capital intensity has risen sharply

• Change in unit cost level, due to: - Higher input prices Change in cost level - Higher margins of suppliers - Lower efficiency & productivity of suppliers

Change in efficiency and productivity Change in project • Change in unit quantity, due to: complexity - More activity Change in activity level - Higher complexity - Lower efficiency & productivity

2003 2013

30 3 0 Important strategic evaluations

• Global, regional, local sourcing?

• Bundle or segment?

• Do or buy potential?

• Supplier relation – competence and capacity?

• Benchmarks – availability and use

31 Holistic approach

Category Specific Request Evaluation Supplier strategy strategy and awards follow-up

• Contracts’ • Suppliers’ • Long term • Request and • Evaluation of specific strategy performance strategy contract bids • Market • Improvement • Demand documents • Negotiations/ approach agenda management • Dialogue/ clarifications • Pre-qualification • Contract • Market clarifications • Contract • Familiarisation/ administration knowledge with supplier awards contract • Change orders/ • Lessons meetings additional learned from • Estimate and elements other projects benchmarking • Assessment of

• Lessons learned any issuance of

from other options

projects • Requirements

• Supplier list and garanties

• Lessons learned

32 Supplier relationship is key

Supplier Relationship Management is an ongoing process of engaging with suppliers to Supplier improve business relationships and performance Relationship Management

Supplier Performance Management enables Statoil to evaluate suppliers in a consistent way Supplier and provide the information necessary to make Performance informed decisions Management

Contract Management concerns central handling of supplier contract creation, finalization, Contract monitoring, follow up and and termination Management • Relationship • Performance • Administration

33 The «optimal» Statoil supplier

• Safe and sustainable as a foundation for high performance

• Internal targets aligned with Statoil

• Use benchmarks and productivity measurements in continous improvement

• Accountability

«One performance standard»

34 Pursuing further standardisation and industrialisation

Relevant business cases Ambitions and potentials to be achieved Fast track Johan Castberg

Improvements within reach: Systems and equipment standardised • 50% reduction on time for re-use on Johan Sverdrup. • 30% reduction on cost Pilot for simplification of technical requirements and documentation. Floating Storage Units [FSU] 5-10% reduced cost per FSU Johan Sverdrup Projects and concept synergies Conceptual standardisation, and re-use of systems and equipment Purchasing coordination, follow-up from Johan Castberg coordination, synergies and cooperation across the projects. Experience transfer and increased learning Next projects Standardisation an integral part of Cat D and Cat J management systems and culture 20% more efficient drilling

35 35 World class project portfolio

GUDRUN VALEMON TANZANIA BLOCK 2 MARINER • Solid pipeline Short term production Short term production High-impact Heavy oil field contribution contribution discoveries project of projects

• High ownership share in strategic Statoil share 51% Statoil share 54% Statoil share 65% Statoil share 65% Start up 2014 Start up 2014 Start up 2017 projects Capacity boe/d Capacity boe/d Capacity boe/d 65.000* 50.000* 50.000*

• Robust production GINA KROG AASTA HANSTEEN JOHAN SVERDRUP JOHAN CASTBERG Supporting the AND POLARED Production horizon Door opener to a Sleipner area strategy Pioneer in deep beyond 2050 new core area outlook water area

Statoil share 59% Statoil share 75%/50% Statoil share 40% Statoil share 50% Start up 2017 Start up 2017 Start up 2018 Capacity boe/d Capacity boe/d 70.000* 110.000* * Statoil share

36 Statoil procurement Strategy

• Utilise the global supplier market Principles

• Competition • Transparency • Non discrimination • Equality

Expectations • Safety • Quality and high standards • Social Responsibility

37