OKEA ASA

Notice of Dividend Amount • May 23, 2022

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

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

(Trondheim, 23 May 2022) OKEA ASA (OSE: OKEA) OKEA has today announced that the

company will pay a dividend in the total amount of NOK 93 483 315 (NOK 0.90 per

share) to its shareholders payable on or about 15 June 2022. The bond terms in

OKEA02 (ISIN NO 0010826852) requires that OKEA offers to all bondholders to

acquire bonds up to an aggregate nominal amount equivalent to the dividend

payment at a price of 103% (plus accrued interest) prior to the date of making

such distribution.

For further details we refer to the distribution event notice to bondholders as

attached to this announcement and published via Stamdata today.

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 Wintershall Dea transaction as announced earlier today). 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