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	Anita Marie Hjerkinn Aarnæs
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, Synthetic shares under the synthetic share incentive program in DNO ASA. The synthetic type of instrument a) Identification code ISIN NO0003921009.
	shares have no separate identification code and track the ordinary shares of DNO ASA,
	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* 16,076
Aggregated information
— Aggregated volume
	N/A transaction relates to one-time award of synthetic shares
Price: NOK 0
Volume: 16,076
Total value: NOK 0* d) — Price
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. Anita Marie Hjerkinn Aarnæs was awarded synthetic shares for a market value of NOK 163,500 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.