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OKEA ASA

Capital/Financing Update • Feb 25, 2022

3701_iss_2022-02-25_68e83159-ee59-473c-880d-3a06f68ca4a3.pdf

Capital/Financing Update

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OKEA ASA – BUYBACK OF BONDS

(Trondheim, 25 February 2022) OKEA ASA (OSE: OKEA). Following the company update on 11 February 2022, OKEA has bought back a nominal value of USD 26.4 million in the OKEA02 bond (ISIN NO0010826852) in the market at a price of 103.625.

In total, OKEA has now bought back a total nominal value of USD 68.1 million of the OKEA02 bond, of which USD 6.3 million was cancelled in June 2020.

For further information, please contact

CFO, Birte Norheim, OKEA ASA: ph. +47 95293321

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. OKEA finds value where others divest and has an ambitious growth strategy built on accretive M&A activities, value creation and capital discipline.

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

More information is available at www.okea.no