DNO ASA — Capital/Financing Update 2022

Sep 28, 2022

DNO03 Bond Buyback

DNO03 Bond Buyback

Oslo, 28 September 2022 - DNO ASA,  the Norwegian oil and gas operator, has

completed buybacks in the DNO03 bond (ISIN: NO0010852643) totaling USD

19,565,657. The purchased bonds will be cancelled. Following cancellation, the

outstanding amount of the DNO03 bond will be USD 131,162,339. The buybacks do

not change the fixed maturity date of the DNO03 bond.

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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 focused on the Middle East and the

North Sea. Founded in 1971 and listed on the Oslo Stock Exchange, 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, Netherlands and Yemen.

This information is subject to disclosure pursuant to section 5-12 of the

Norwegian Securities Trading Act and section 6.2.2 (2) of Euronext Oslo Rulebook

II.