OKEA ASA

Related Party Transaction • Jul 14, 2022

OKEA ASA - Initiation of share acquisitions by primary insiders

OKEA ASA - Initiation of share acquisitions by primary insiders

Trondheim, 14 July 2022

Primary insiders of OKEA ASA (OSE:OKEA) have mandated a third party to carry out

a collective share purchase for an amount of up to approximately NOK 900,000.

The collective share purchase will start today and is expected to be terminated

on 15 July 2022 at the latest. The share acquisitions are made in accordance

with the resolution from the company's general meeting 12 May 2022 on additional

compensation to the company's board of directors with an obligation to purchase

shares (item 12). The shares will be subject to a 12-month lock-up period from

the date of purchase.

All share purchases will be executed on Euronext Oslo Børs. The execution of any

purchases will depend on market conditions, the share acquisitions may be

discontinued at any time, and it may be resolved to terminate the purchases

before the threshold set above is reached.

For further information, please contact:

CFO, Birte Norheim, + 47 952 93 321

VP Legal, Marit Moen Vik-Langlie, +47 407 63 671

About OKEA

OKEA ASA is a leading mid- to late-life operator on the Norwegian continental

shelf (NCS). OKEA finds value where others divest and has an ambitious strategy

built on growth, value creation and capital discipline.

OKEA is listed on the Oslo Stock Exchange (OSE:OKEA)

More information at www.okea.no