OKEA ASA

Share Issue/Capital Change • Dec 21, 2021

OKEA ASA - New share capital registered

(Trondheim, 21 December 2021) Reference is made to the stock exchange notice published on 10 December 2021 regarding the issuance of new shares in OKEA ASA (the "Company"). The share capital increase related to the issuance of 615,000 shares has now been registered with the Norwegian Register of Business Enterprises. The Company's new share capital is NOK 10,387,035.00 divided into 103,870,350 shares, each with a par value of NOK 0.10.

This information is subject to the disclosure requirements pursuant to Section 5 -12 of the Norwegian Securities Trading Act.

The stock exchange announcement was published by VP Investor Relations, Trond Omdal, OKEA ASA.

For further information, please contact:

VP Investor Relations, Trond Omdal, +47 915 32 578

About OKEA

OKEA ASA is a leading mid-to-late-life operator on the Norwegian continental shelf (NCS) with a current target production of 18 000 - 19 000 boe per day in 2022. OKEA seeks 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