DNO ASA

Report Publication Announcement • Oct 14, 2025

Q3 2025 Trading Update and Invitation to Earnings Call

Q3 2025 Trading Update and Invitation to Earnings Call

Oslo, 14 October 2025 - DNO ASA, the Norwegian oil and gas operator, will

publish its Q3 2025 operating and interim financial results on 6 November at

07:00 (CET). A videoconference call with executive management will follow at

10:00 (CET). Today, the Company provides an update on production, sales volumes

and other selected information for the quarter.

Volumes (boepd)

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Gross operated production Q3 2025 Q2 2025 Q3 2024

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Kurdistan 46,572 74,760 84,212

North Sea 11,508 5,526 -

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Net entitlement production Q3 2025 Q2 2025 Q3 2024

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Kurdistan 14,449 18,675 17,607

North Sea 77,323 33,348 11,236

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Sales Q3 2025 Q2 2025 Q3 2024

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Kurdistan 14,449 18,675 17,607

North Sea 79,419 32,393 15,307

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Equity accounted production (net) Q3 2025 Q2 2025 Q3 2024

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Côte d'Ivoire         3,143 3,174 2,842

Selected cash flow items

DNO's share of oil from the Tawke license during the quarter was sold to local

buyers. All payments were made to the Company in advance of oil deliveries.

In the third quarter, DNO paid a dividend of NOK 0.375 per share (totaling USD

36.2 million), which represents NOK 1.50 per share on an annualized basis. DNO

also paid two tax instalments totaling USD 52.9 million in Norway related to

estimated 2025 taxable results on the Norwegian Continental Shelf (NCS).

On the financing side, during the quarter DNO repaid the USD 300 million bank

bridge loan facility which was entered into in June towards the acquisition of

Sval Energi Group AS.

North Sea exploration

DNO participated in two exploration wells on the NCS in the quarter. The Vidsyn

well in PL586 (25 percent interest) was spudded on 14 June, completed on 31 July

and has been announced as a discovery. The Page well in PL1086 (50 percent

operated interest) was spudded on 1 September and drilling was ongoing as of end

of the quarter.

Earnings call login details

Please visit www.dno.no (http://www.dno.no) for login details ahead of the call.

Disclaimer

The information contained in this release is based on a preliminary assessment

of the Company's Q3 2025 operating and interim financial results and may be

subject to change.

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For further information, please contact:

Media: media@dno.no

Investors: investor.relations@dno.no

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DNO ASA is a Norwegian oil and gas operator active in the Middle East, the North

Sea and West Africa. Founded in 1971, DNO is Norway's oldest oil company and the

first to list on the Oslo Stock Exchange in 1981. the Company holds stakes in

onshore and offshore licenses at various stages of exploration, development and

production in the Kurdistan region of Iraq, Norway, the United Kingdom, Côte

d'Ivoire, Netherlands and Yemen. More information is available at www.dno.no

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.