DNO ASA - Capital/Financing Update 2025

Prospectus Approved for Listing of DNO's USD 400 Million Hybrid Bonds on Oslo Stock Exchange

Oslo, 24 October 2025 - DNO ASA, the Norwegian oil and gas operator, today

announced that the Financial Supervisory Authority of Norway on 23 October 2025

approved the prospectus prepared in connection with the listing on the Oslo

Stock Exchange of the Company's 10.75 percent USD 400 million subordinated

hybrid callable bonds issued on 17 June 2025 with maturity in June 2085 (ISIN:

NO0013582627). Trading in the bonds is expected to commence today.

The prospectus dated 23 October 2025 is available on the Company's website

www.dno.no.

For further information, please contact:

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 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.

This release does not constitute any offer or solicitation to sell or purchase

any securities.

The release may not be released, published or distributed in the United States

of America or any other jurisdiction where release, publication or distribution

would be prohibited or require any registration or filing acts or similar.

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