DNO ASA — Capital/Financing Update 2022

Jul 25, 2022

DNO ASA: DNO03 Bond Buyback

DNO ASA: DNO03 Bond Buyback

Oslo, 25 July 2022 - DNO ASA,  the Norwegian oil and gas operator, has completed

buybacks in the DNO03 bond (ISIN: NO0010852643) totaling USD 25.2 million. The

purchased bonds will be cancelled. Following cancellation, the outstanding

amount of the DNO03 bond will be USD 150.9 million. 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.