DNO ASA - Capital/Financing Update 2022

DNO ASA - Key information relating to partial redemption of bond loan

Please see the following key information regarding partial redemption of DNO

ASA's bond loan with ISIN NO0010852643 (the "Bond Loan"):

Issuer: DNO ASA

ISIN of bond loan: NO0010852643

Date of redemption: 30 May 2022

Record date: 25 May 2022

Redemption amount: USD 200 million

Outstanding loan amount after redemption: USD 176,159,000

Redemption price: 103.35% of the Nominal Amount, plus accrued interest.

Other information: DNO ASA currently owns bonds issued under the Bond Loan in an

amount of USD 23,841,000, all of which will be cancelled before the partial

redemption of the Bond Loan is carried out.

This information is considered to be inside information pursuant to the EU

Market Abuse Regulation and is subject to the disclosure requirements pursuant

to Section 5-12 of the Norwegian Securities Trading Act. This announcement was

published by Jostein Løvås, Communication Manager, DNO ASA on 11 May 2022 at

16:00 CEST.

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