OKEA ASA

Notice of Dividend Amount • Jun 22, 2022

OKEA ASA - Results of bond buyback offer to OKEA02 bondholders due to dividend distribution event

OKEA ASA - Results of bond buyback offer to OKEA02 bondholders due to dividend distribution event

(Trondheim, 22 June 2022) OKEA ASA (OSE: OKEA): Reference is made to the stock

exchange announcement published by OKEA ASA (the "Company") on 23 May 2022,

regarding a bond buyback offer to all bondholders of the bond loan OKEA02 with

ISIN NO 0010826852.

Under the bond terms, OKEA is required to accept offers up to an aggregate

nominal amount of USD 9,388,137.20 at a price of 103% of the nominal amount

(plus accrued interest) (the "Maximum Put Amount").

The put option period under the bond buyback offer expired today at 16:00 hours

(CEST). The Company has received acceptances for an amount which exceeds the

Maximum Put Amount. As such, there will be a pro rata reduction of the amounts

exercised to the Maximum Put Amount.

The final results of the bond buyback offer will be available through the

Central Securities Depository after settlement. Settlement of the bond buyback

offer will be on or about 7 July 2022.

This information is subject to the disclosure requirements of the Continuing

Obligations.

For further information, please contact: CFO, Birte Norheim, + 47 952 93 321

About OKEA

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

shelf (NCS) with a current target production of 18,500 - 20,000 boe per day in

2022 (before the asset acquisition from Wintershall Dea as announced 23 May

2022). 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