DNO ASA — Director's Dealing 2023

May 26, 2023

Form of notification – Award of synthetic shares under the synthetic share incentive program in DNO ASA

1.	Details of the person discharging managerialresponsibilities/person closely associated
a)	Name	Najmedin Meshkati
2.	Reason for the notification
a)	Position /status	Board member
b)	Initial notification / amendment	Initial notification

3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer, or auction monitor
a)	Name	DNO ASA
b)	LEI	5967007LIEEXZXH3K072

	Details of the transaction(s)
	section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where
4.	transactions have been conducted
	Description of the financialinstrument,
	type of instrument	Synthetic shares under the synthetic share incentive program in DNO ASA. The synthetic
		shares have no separate identification code and track the ordinary shares of DNO ASA,
a)	Identification code	ISIN NO0003921009.
		Award of synthetic shares to members of the issuer's board of directors pursuant to its
b)	Nature of the transaction	synthetic share incentive program, which was approved by the issuer's annual general
		meeting on 25 May 2023.
		Price(s)	Volume(s)
c)	Price(s) and volume(s)	NOK 0*	19,272
	Aggregated information
	— Aggregated volume	N/A transaction relates to one-time award of synthetic shares
		Price: NOK 0
		Volume: 19,272
d)	— Price	Total value NOK 0*
e)	Date of the transaction	2023-05-25; 10:30 CEST
f)	Place of the transaction	XOFF - Outside a trading venue

* No payment has been made. Najmedin Meshkati was awarded synthetic shares for a market value of NOK 196,000 by the annual general meeting in DNO ASA on 25 May 2023. The number of synthetic shares was determined by dividing said amount by the closing price of the issuer's shares on the Oslo Stock Exchange on the last business day prior to the 2023 Annual General Meeting, being NOK 10.17. The synthetic shares shall be cash settled through compulsory realisation based on the closing price of the issuer's shares on the Oslo Stock Exchange the first business day after its publication of the interim report for Q1 2025.