DNO ASA — Capital/Financing Update 2022

Aug 30, 2022

Partial Bond Cancellation Completed

Partial Bond Cancellation Completed

Oslo, 30 August 2022 - DNO ASA, the Norwegian oil and gas operator, has

completed cancellation of USD 25,431,004 in DNO03 bonds (ISIN: NO0010852643).

Following cancellation, the outstanding amount of the DNO03 bond is USD

150,727,996.

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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.