OKEA ASA

Capital/Financing Update • Jul 5, 2021

OKEA ASA - Occurrence of Put Option Event

OKEA ASA - Occurrence of Put Option Event

Trondheim 5 July 2021 - OKEA ASA has informed Nordic Trustee AS that an

Extraordinary Put Event (the occurrence of 30 June 2021) and consequently also

a Put Option Event has occurred (both terms as defined in the relevant bond

terms) under the bond issues OKEA02 (with ISIN NO 0010826852) and OKEA03 (with

ISIN NO 0010869175), ref.  Clause 10.3 of the relevant bond terms.The notices to

the bondholders from Nordic Trustee AS are attached.

For further info please contact:

Birte Norheim, CFO, + 47 952 93 321

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

About OKEA

OKEA ASA is an independent Exploration and Production (E&P) company and operator

on the Norwegian Continental Shelf with a current production around 16,000

boepd. OKEA targets profitable production growth within the current portfolio

combined with an opportunistic approach to M&A. OKEA ASA is listed on the Oslo

Stock Exchange under the ticker "OKEA".

More information on

www.okea.no (https://eur01.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww

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