DNO ASA

Director's Dealing • Jun 6, 2024

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	Bijan Mossavar-Rahmani
2.	Reason for the notification
a)	Position /status	Executive Chairman
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

4.	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 transactions have been conducted
a)	Description of the financialinstrument, type of instrument Identification code	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, ISIN NO 0003921009.
b)	Nature of the transaction	Award of synthetic shares to members of the issuer's board of directors pursuant to its synthetic share incentive program, which was approved by the issuer's annual general meeting on 6 June 2024.
		Price(s)	Volume(s)
c)	Price(s) and volume(s)	NOK 0*	344 333
	Aggregated information
	— Aggregated volume	N/A transaction relates to one-time award of synthetic shares
		Price: NOK 0
		Volume: 344 333
d)	— Price	Total value NOK 0*
e)	Date of the transaction	2024-06-06; 14:40 CEST
f)	Place of the transaction	XOFF - Outside a trading venue

* No payment has been made. Bijan Mossavar-Rahmani was awarded synthetic shares for a market value of USD 360,000 by the annual general meeting in DNO ASA on 6 June 2024. The number of synthetic shares was determined by dividing the NOK equivalent of said amount (using the latest available USD-NOK exchange rate published by the central bank of Norway) by the closing price of the issuer's shares on the Oslo Stock Exchange on the last business day prior to the 2024 Annual General Meeting, being NOK 11.03. 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.