DNO ASA — Environmental & Social Information 2021

Aug 26, 2021

DNO ASA 2020 Report

Corporate Social Responsibility

Contents Corporate Social Responsibility Highlights 2020

Kurdistan region of Iraq 8 Norway and the UK 11 25 percent year-on-year drop in CO2 intensity to 10 kilograms per barrel of oil produced

Greenhouse gas emissions 7

Social performance 19 Governance 20 Code of Conduct 22 Anti-corruption 24 Continued to diversify workforce (43 nationalities) including stepped-up recruitment of women in management and operational roles

Responsible supply chain 26	Mechanisms for raising concerns		25

Significantly improved reporting on Corporate Social Responsibility performance and targets

Bedrock of DNO's culture remains zero tolerance for unethical business practices. Zero.

DNO || CSR Report 2020 2

Kurdistan region of Iraq

United Arab Emirates

Operational highlights 2020

DNO || CSR Report 2020 3

OPERATED PRODUCTION

Norway

110,300 barrels of oil per day

NET RESERVES

360 million proven and probable barrels of oil equivalent

NET PRODUCTION

100,100 barrels of oil equivalent per day

EMPLOYEES

Mission and values

DNO's mission is to deliver superior returns to our shareholders by finding and producing oil and gas at low cost and with a focus on the Middle East and the North Sea. We meet our commitments efficiently and transparently and expect the same of our host governments, partners, employees, contractors and local communities. We treat these stakeholders fairly and respectfully by adhering to high standards of governance, business conduct and corporate social responsibility (CSR).

CSR starts with identifying and addressing the needs of all key stakeholders. Wherever we operate, we make a concerted effort to create mutually beneficial relationships, balancing stakeholders' interests with our own as a 50-year old public company with some 18,000 shareholders. DNO, Norway's oldest oil and gas company (Golden Jubilee in 2021), is today an international one with respect to our portfolio, with two-thirds of our shares owned by non-Norwegians and with a Board of Directors and executive management representing six nationalities. Even so, we proudly fly the Norwegian flag and carry our home country's best practises wherever we operate, including industry leading health and safety standards, strong ethics and a light environmental footprint.

DNO is characterized by a 'can do' attitude and culture. At DNO, anything is possible. We strive to be first, fair and firm. At DNO, we live our values, not check them at the door.

First

We are pioneers, seizing opportunities where few others venture. We are often among the first companies to explore and develop new frontiers. Our first-mover advantage allows us to quickly develop discoveries. DNO is a company of innovators and entrepreneurs – competent, decisive and visionary individuals who take bold initiatives.

Fair

We treat people with respect and integrity. We are committed to the health and safety of our people, to the development of our host communities and to responsible environmental practices. We adhere to high standards of corporate governance and business conduct. DNO is a company of collaborators. We foster an open, inclusive and diverse culture. We are responsive to employee needs.

Firm

We are resolute and confident and have our foot firmly on the accelerator. We are clearly focused on what we do and determined to do it well. DNO is a company of doers – individuals who execute using resources effectively and efficiently, always keeping in mind strategic priorities. We want to build on DNO's success story, and we also want to help our employees create their own success stories.

CSR risk assessment and mitigation

While general business risks are addressed in the Annual Report, below are key risks facing the Company within the environment, social and governance spheres. We take a bottom-up/top-down approach to identifying and mitigating risks, with the Board of Directors providing strategic input and oversight.

Environment
Risk	Mitigation
-Stranded assets as a consequence of tighter environmental regulations and increased use of renewables - Increased cost of capital from reduced investor appetite for oil and gas	- DNO's low cost, low carbon emissions portfolio provides comparative and competitive advantage against many peer companies - Maintain industry-leading GHG emissions reduction targets - Eliminate fugitive methane emissions and venting - Communicate environmental performance and targets, engage with stakeholders

Social
Risk	Mitigation
- Harm to employees and neighboring communities	- Robust HSSE protocols and environmental monitoring and remediation programs
- Business disruption due to security or other incidents	- Continuously monitor emerging risks and update and amend response procedures
impacting staff and facilities - Difficulty in attracting and retaining talent - Loss of social license to operate	- Outreach to universities to collaborate on research, establish internship and recruitment programs
	- Engage with local communities, provide jobs and support educational, agricultural and infrastructure projects

Governance
Risk	Mitigation
- Misconduct leading to breach of our Code of Conduct and other governance protocols - Inadvertent breach of commercial contracts leading to adverse business outcomes and reputational harm	- Maintain strict policies and procedures and provide ongoing staff training to communicate zero tolerance of illegal or unethical business practices - Improve robustness and effectiveness of legal, compliance, audit, treasury and supply chain functions

Environment

Carbon intensity disclosures, targets

environmental, social and

DNO has worked to reduce the intensity of greenhouse gas (GHG) emissions from its activities and to disclose its GHG emissions performance. Our Greenhouse Gas Emissions Management Standard is developed in accordance with the globally recognized GHG Protocol Corporate Accounting and Reporting Standard and our GHG emissions are verified by a third party.

We report annually to the CDP, a not-for-profit charity that runs a global disclosure system for investors, companies, cities, states and regions to monitor and manage their environmental impacts. Our 2020 CDP climate change disclosure was ranked B for the second consecutive year as we continued to enhance the quantity and quality of our disclosures, including reporting the step change in our GHG emissions reductions in mid-2020.

Notably, our Scope 1 and Scope 2 carbon intensity averaged 10.3 kilograms of CO2 equivalent (kg CO2e) per barrel of oil equivalent (boe) in 2020, down from 13.7 kg CO2e/boe in 2019. This compares to the target set by a group of 12 of the world's largest oil companies comprising the Oil and Gas Climate Initiative (OGCI) to reduce the average carbon intensity of their aggregated upstream oil and gas operations to 20 kg CO2e/boe) by 2025 from a collective baseline of 23 kg CO2e/boe in 2017. While our carbon intensity can vary year to year as new projects are developed and older ones retired, DNO has set an ambitious target to cap its Scope 1 and Scope 2 carbon intensity at one half of the OGCI figure on a five-year moving average basis through 2030.

GHG emissions from DNO-operated activities
Indicator	Unit	2020	2019	2018
Emission intensity	kg CO2e/boe	10.3	13.7	9.6
Scope 1 GHG emissions	tonnes of CO2e	416,231	633,921	411,799
Scope 2 GHG emissions	tonnes of CO2e	662	1,014	1,145

Reducing emissions in Kurdistan

DNO operates two licenses in Kurdistan: Baeshiqa and Tawke containing the Tawke and Peshkabir fields. DNO's Scope 1 and Scope 2 GHG emissions in Kurdistan in 2020 totaled 413,423 tonnes of CO2e, down by 32 percent from 2019, driven by significant reduction in flaring achieved through the USD 110 million Peshkabir-to-Tawke gas capture and injection project in mid-2020.

he environmental, social and governance

Kurdistan's first and still only gas capture and injection scheme gathers, treats and transports gas over 80 kilometers from the Peshkabir field to the Tawke field for injection. The project has thus captured some six billion cubic feet of otherwise flared gas equivalent to 386,214 tonnes of CO2e in its first 14 months of operation from June 2020 through July 2021. With a per barrel CO2e emissions of 10 kilograms in 2020, DNO had the lowest emission intensity of any international oil company in Kurdistan.

On the back of DNO's success, the Government of Kurdistan has recently mandated that all operators must submit plans to significantly reduce gas flaring.

DNO is now progressing other efforts at the Tawke license to further reduce our carbon footprint, including the second phase of capture and injection of gas produced at the Tawke field at a cost of USD 25 million. Gas recycling also provides reservoir pressure support for enhanced oil recovery. Smaller projects are also underway to utilize otherwise flared gas to reduce diesel combustion for process heat and electricity generation.

DNO has eliminated venting of hydrocarbon gases (mainly composed of methane) during routine operations and launched a Leak Detection and Repair (LDAR) initiative to measure, monitor and mitigate fugitive methane emissions; while CO2 emissions from oil and gas operations receive the greatest attention, methane emissions are a significant but underreported source of greenhouse gas with an impact 25 times greater than CO2 on a 100-year horizon.

GHG emissions avoided with gas injection replacing flaring
Unit	2020	2019	2018
tonnes of CO2e	162,983	0	0

Minimizing environmental footprint

ronmental, social and governance

We investigate, rectify and report any leaks and spills. In 2019, accidental damages to buried pipes in Kurdistan during excavation in connection with the Peshkabir-Tawke gas project caused a one-off spike in oil spill volumes. Steps have been taken to avoid such recurrences. Historically, DNO has had a very light environmental footprint from oil and chemical spills and hydrocarbon leaks.

DNO is committed to responsible handling and management of waste consistent with local regulations and our own standards, including to ensure appropriate levels of waste segregation and, where possible, reuse. Drill cuttings represent the majority of hazardous waste generated and are stored onsite for periodic remediation. We report on our waste management practices as part of our Environmental Impact Assessments (EIAs) and Environmental Monitoring and Management Plans (EMMPs).

The Company is constructing a central onsite facility for collection and segregation of waste from the Tawke field. The facility will be operational in 2021. Drilling muds and cuttings, categorized as hazardous waste, are transferred to protected pits for treatment and safe disposal. Following a temporary suspension due to COVID-19, DNO has stepped up its activities on drilling pit remediation and landscape restoration in 2021.

DNO draws water from local watercourses and aquifers for operational purposes. As our requirements grow, we have redoubled our efforts to treat and recycle used water and utilize water efficient drilling technologies.

In addition to its mitigation measures, DNO has upgraded its environmental recording systems in 2021 to better report our environmental performance and achievements.

Waste, leaks and water use
Indicator	Unit	2020	2019	2018
Hazardous waste generated*	tonnes	3,378	n/a	n/a
Hazardous waste recovered	tonnes	13	n/a	n/a
Non-hazardous waste generated	tonnes	1,784	n/a	n/a
Non-hazardous waste recovered	tonnes	44	n/a	n/a
Oil spills	barrels	4	170	37
Chemical spills	barrels	2	27	0
Hydrocarbon leaks	barrels	0	0	0
Total water withdrawal	thousand m3	326	297	210

* Drill cuttings represent the majority of hazardous waste generated. DNO in Kurdistan stores drill cuttings onsite for periodic remediation (conversion to non-hazardous waste and disposal)

Decomissioning efforts in North Sea

ronmental, social and governance

At yearend 2020, DNO held interests in 76 licenses (19 operatorships) in Norway and 16 licenses (3 operatorships) in the United Kingdom (UK). The Norwegian Continental Shelf (NCS) and the United Kingdom Continental Shelf (UKCS) are extensively mapped, analyzed and managed marine areas. Environmental analyses to assess risks and impacts of our activities are mandatory. Discharge permit plans are subject to public hearings and the approval of environmental authorities.

With a few exeptions, DNO's portfolio in Norway and the UK consists of fields and exploration licenses where DNO is a non-operating partner. In 2019, DNO assumed operatorship and working interest in three end-of-life fields whose decommissioning had been deferred by the previous operator, likely for financial reasons. As a prudent operator and consistent with our environmental remediation commitments, DNO commenced decomissioning of the production facilities and plugging and abandonment (P&A) of the wells of the Schooner and Ketch fields on the UK Continental Shelf and of the Oselvar field on the Norwegian Continental Shelf.

The Oselvar campaign involving three wells is expected to be completed by 2022. The Schooner and Ketch campaign involving the permanent and safe plugging of 21 wells plus removal of wellhead platforms is expected to be completed by 2023.

The cost of the decomissioning activities are estimated at USD 217 million (before tax refunds) net to DNO's interest.

North Sea decomissioning expenditures
Indicator	2022/2023 (projected)	2021 (estimated)	2020	2019	Pre 2019
DNO net pre-tax spend (USD million)	62	96	31	22	6

dimensions of our business are essential to how we ope We celebrate diversity in nationality, gender, race, culture, religion and age

he environmental, social and governance

Promoting diversity

People are DNO's most important resource. We are more than 1,200 individuals representing some 43 nationalities of various religious affiliations across the Company, working together to build DNO's position as a leading independent oil and gas exploration and production company.

We celebrate diversity in the DNO family in nationality, gender, race, culture, religion and age and do not discriminate in recruitment, advancement, remuneration or otherwise in the workplace.

In DNO we have honest, direct and challenging discussions to make responsible business decisions in a work environment based on respect, tolerance and nondiscrimination. We do not condone threatening or degrading conduct, nor do we tolerate any behavior which is disrespectful of our differences.

The Company has stepped up recruitment and promotion of women who at yearend 2020 represented 12 percent of the Company's overall workforce and 35 percent of employees in managerial, administrative and other non-field operational positions.

In the Erbil office, women represented 31 percent of all employees; the comparable figure in the Dubai office was 24 percent and 42 percent in the Oslo and Stavanger offices.

Women comprised 40 percent of the DNO Board of Directors.

Diversity in DNO

Local staffing, local content

In Kurdistan, DNO had 980 employees at yearend 2020 of which 83 percent were local hires, many in managerial roles. DNO was the largest employer of Kurds among international oil companies.

he environmental, social and governance

We actively recruit from neighbouring communities. Also, DNO identifies and offers employment to top graduates from local universities. Through mentorship and formal training programs, we support the advancement of Kurdish nationals into more senior roles.

We partner with local companies for such services as inspections, maintenance, civil works, transportation, remediation, catering, health care, security and waste disposal, among others. We work to ensure that our service providers are not just competitive but competent and compliant with internationally recognized human rights protocols.

DNO Kurdistan employees
Indicator	2020	2019	2018
Number of local employees at yearend	809	747	652
Total staff at yearend	980	999	844

Health and safety reporting

As a Norwegian oil and gas company DNO brings best in class Norwegian health and safety standards to its operations everywhere and encourages everyone to take responsibility.

he environmental, social and governance

Incidents and near misses are required to be reported, investigated and corrected. A key metric for assessing and benchmarking the Company's safety performance is the Total Recordable Injury Frequency (TRIF). In 2020, DNO delivered a strong safety performance with TRIF at 0.62 in its operational activities, representing a 38 percent reduction since 2018 and comparing favorably to the International Association of Oil and Gas Producers (IOGP) 2020 oil industry average of 0.70.

As the COVID-19 pandemic hit in early 2020, DNO was quick to react by creating site and operation specific protocols to maintain safe, reliable and uninterrupted operations. International travel restrictions interferred with personnel rotations including from quarantine requirements. Cost of operations also rose from supply chain interruptions. With its COVID-19 protocols in place, DNO was able to prevent uncontrolled outbreaks and fatalities.

Health and safety metrics in operated activities
Indicator	2020	2019	2018
Fatalities	0	0	0
Serious vehicle accidents	1	1	3
Lost time incidents	1	0	2
Lost time incident rate (per million hours worked)	0.21	0	0.39
Exposure hours (thousand hours)	4,860	6,921	5,226
Near misses with high potential	1	2	1
DNO's Total Recordable Injury Frequency (TRIF)*	0.62	0.87	1.00
IOGP oil industry average TRIF	0.70	0.92	0.99

* Defined as the number of fatalities, lost time injuries, substitute work, and other injuries requiring treatment by a medical professional per million hours worked in operated activity. Figures include company and contractor data.

dimensions of our business are essential to how we ope Local communities are more than just stakeholders

he environmental, social and governance

Social impact projects

DNO contributes to the development of local communities in which we operate, mindful of cultural differences and the need to treat these communities with respect and dignity. In Kurdistan, a dedicated DNO team works with community leaders to identify and implement social projects. The types of projects vary year to year but common to all is the deployment of our capabilities to provide services and help develop infrastructure. Over DNO's 17 years of presence in Kurdistan, we have supported various projects in the infrastructure, agriculture, health and education sectors. Examples include:

Public health

In 2020, despite reduced activity resulting from COVID-19 restrictions, DNO expanded support for local communities in the health sector through distributing personal protective products such as face masks.

Water supply and agriculture

To date in Kurdistan, DNO has delivered 16 water projects to local communities, including wells, tanks and distribution facilities. In 2020, DNO expanded support for farmers through purchasing agricultural machinery, seeds and fertilizers.

Building and renovating schools

DNO has built one school and renovated 22 others since entry into Kurdistan. In 2021, DNO will renovate five schools and two kindergartens.

University guest lecturers

In 2020, DNO experts continued to guest lecture at three leading Kurdistan universities to familiarize students with the workings of the oil and gas industry. Through this program interested and promising students are identified for recruitment.

Graduate fellowships

The Middle East-North Africa Graduate Fellowship Fund was created in 2014 with a USD one million gift from DNO to the Harvard University's Kennedy School of Government (HKS). Since 2014, this fellowship has enabled six talented students from Middle East – including three women – to complete their studies at Harvard University.

Research partnerships

We partner with leading universities, including Princeton University and Harvard University, to share sub-surface data in support of graduate research and conduct joint studies.

Governance

DNO || CSR Report 2020 || Social 16

Governance policies

Even though more than three quarters of our operations are international, DNO's governance policies are based on the Norwegian Code of Practice for Corporate Governance. The Articles of Association and the Norwegian Public Limited Liability Companies Act form the legal framework for DNO's business activities. DNO is also subject to, and complies with, the requirements of Norwegian securities legislation.

he environmental, social and governance

Our Company-wide CSR and HSSE policies build on respect for local communities and their interests. DNO does not engage in the political processes of host countries and we do not make contributions to political parties or their representatives.

We respect fundamental human rights and are guided in our business conduct by the United Nations Global Compact.

Risk management is key to successful execution of our business. We review our risk profile on a regular basis, incorporating industry-recognized risk identification, quantification and mitigation processes. Corporate and operational risks are reported to the Board of Directors through its Audit Committee and its Health, Safety, Security and Environment Committee at least on a quarterly basis.

Management has responsibility and accountability for assessing, reporting, controlling and mitigating compliance risks. In these tasks management is supported by dedicated compliance and internal audit teams.

We have adopted an Anti-Corruption Policy that employees are required to follow. The policy is available on the "My DNO Compliance" intranet site. This site brings together all compliance policies, interactive training programs, business hospitality requests and conflict of interest registrations. We require Company-wide training in topics related to business ethics, including anti-bribery and corruption, and will continue to provide such training on an ongoing basis.

Code of Conduct

DNO's Code of Conduct, available on our website, sets out the standards and principles by which we conduct our affairs and which we expect all our employees to follow. Failure to comply with the Code of Conduct may lead to disciplinary action.

he environmental, social and governance

Ultimately, the Code of Conduct benefits all stakeholders, including shareholders, employees, contractors, business partners, local communities and host governments.

DNO's Code of Conduct is built on six principles:

• 1. Comply with laws and regulations
• 1. Ensure a safe working environment
• 1. Treat everyone with respect
• 1. Act in DNO's best interest
• 1. Ensure financial integrity
• 1. Take responsibility

We seek contractors and vendors who respect DNO's Code of Conduct in their dealings with us and are compliant with DNO's Business Partner Code of Conduct when they act on our behalf or provide a service to DNO.

Mechanisms for raising concerns:

We encourage our personnel to raise concerns about unethical or illegal behavior and breaches of DNO's Code of Conduct or other Company policies. The Company also has a confidential channel for those who wish to raise such matters in strict privacy or anonymously.

Environment1
Indicator	Unit	2020	2019	2018
Unplanned releases to sea or land
Oil spills2
Number		14	25	16
Volume	bbl	4	170	37
Chemical spills
Number		9	6	0
Volume	bbl	2	27	0
Hydrocarbon leaks
Number		0	0	0
Volume	bbl	0	0	0
Water use
Freshwater withdrawal3	thousand m3	326	297	210
Effluents
Produced water discharged to sea	m3	0	0	0
Produced water discharged to land	m3	0	0	0
Discharges of oil to water	bbl	0	0	0
Waste
Hazardous waste generated4	tonnes	3,378	n/a	n/a
Hazardous waste recovered	tonnes	13	n/a	n/a
Non-hazardous waste generated	tonnes	1,784	n/a	n/a
Non-hazardous waste recovered	tonnes	44	n/a	n/a

l, social and governance dimen

¹ All data are on an operational basis (100% basis), except emissions fees in Norway which are based on DNO equity share of both operated and non-operated assets.

² Category includes crude oil and diesel spills.

³ Category excludes water use in DNO offices and bottled drinking water use in DNO fields.

⁴ Drill cuttings represent the majority of hazardous waste generated. DNO in Kurdistan stores drill cuttings onsite for periodic remediation (conversion to non-hazardous waste and disposal)

. These are not summed up with

Environment
Indicator	Unit	2020	2019	2018
Energy consumption
Electricity purchased	MWh	989	972	1,028
Energy consumption from renewable sources	MWh	0.0	0.0	0
GHG emissions5
Emission intensity6	kg CO2e/boe	10.3	13.7	9.6
Scope 1 GHG emissions7	tonnes CO2e	416,231	633,921	411,799
Scope 2 GHG emissions8	tonnes CO2e	662	1,014	1,145
Gas flaring emissions
Tawke field	tonnes CO2e	15,028	13,362	49,526
Peshkabir field	tonnes CO2e	288,925	477,309	272,063
Emissions fees (Norway only, DNO equity share)
GHG fees (Norway CO2 tax and EU ETS)9	NOK million	90	75	0

⁵ All data are for total (gross) emissions from operated assets. The GHG reporting is consolidated and presented in accordance with the requirements of The GHG Protocol Corporate Accounting and Reporting Standard. The Scope 1 and Scope 3 emissions are based on IPCC 2006 emission factors. The Scope 2 emissions are based on a conservative emissions factor derived from the average electricity consumption across DNO offices.

⁶ Emission intensity includes Scope 1 and Scope 2 GHG emissions based on operated production.

⁷ Scope 1 accounts for all direct GHG emissions from operated assets and includes emissions from all drilling rigs in the Kurdistan portfolio.

⁸ Scope 2 accounts for indirect emissions from electricity purchased across all DNO locations and offices. 9 Category includes equity share of fees paid under the CO2 tax regime in Norway and costs of buying emissions quotas under European Union's Emissions Trading System (EU ETS) across its portfolio in Norway and the UK (estimated).

Social (health and safety)
Indicator	2020	2019	2018
Health and safety
Fatalities
Employees	0	0	0
Contractors	0	0	0
Total	0	0	0
Lost time incidents
Employees	0	0	0
Contractors	1	0	2
Total	1	0	2
Restricted work incidents
Employees	1	1	1
Contractors	1	1	0
Total	2	2	1
Medical treatment incidents
Employees	0	3	1
Contractors	0	1	0
Total	0	4	1
Vehicle accidents
Serious vehicle accident	1	1	3
Distance driven (million km)	2.41	4.21	3.73
Recordable injuries from vehicle accidents	0	0	0
Lost time incident rate
Employees (per million hours worked)	0	0	0
Contractors (per million hours worked)	0.35	0	0.65
Total (per million hours worked)	0.21	0	0.39
Medical treatment incident rate
Employees (per million hours worked)	0.00	1.15	0.93
Contractors (per million hours worked)	0.00	0.23	0.32
Total (per million hours worked)	0.00	0.58	0.57
Exposure hours
Employees (thousand hours)	2,046	2,617	2,138
Contractors (thousand hours)	2,814	4,304	3,088
Total (thousand hours)	4,860	6,921	5,226
Near misses with high potential	1	2	1
Total Recordable Injury Frequency (TRIF)10	0.62	0.87	1.00
Security
Security incidents	0	1	4

¹⁰ Defined as the number of fatalities, lost time injuries, substitute work, and other injuries requiring treatment by a medical professional per million hours worked.

Social (people and society)
Indicator	2020	2019	2018
People
Total number of employees11	1,257	1,328	1,119
Employee turnover12	20%	7%	8%
Leavers	254	94	91
New hire rate	18%	20%	27%
New joiners	220	265	306
Gender diversity
Number of men	1,109	1,160	989
Number of women	148	149	122
Women in workforce	12%	11%	11%
Women in executive management	20%	18%	14%
Women in board of directors	40%	40%	40%
Employees by age groups
< 30 years	26%	25%	26%
30 - 50 years	59%	57%	55%
> 50 years	16%	17%	18%
Board of directors by age group
> 50 years	80%	80%	80%
Number of nationalities
DNO ASA (corporate head office in Oslo, Norway)	16	19	19
DNO Iraq AS (Kurdistan region of Iraq)	24	28	25
DNO Norge AS (Stavanger, Norway)	14	12	10
DNO North Sea plc (UK)	1	5	1
DNO Technical Services (UAE)	23	27	24
Total number of nationalities	43	48	43
Sickness absence	1.1%	2.0%	1.4%
Government revenue from Tawke license (Kurdistan region of Iraq)
Value of profit oil entitlements (USD million)	606	1,226	1,317
Value of royalties (USD million)	117	232	236
Total value (USD million)	722	1,457	1,554

dimen

mental, social and governance

¹¹ The headcount includes employees and full-time consultants.

¹² The higher turnover in 2020 primarily reflected pandemic related downsizing in Q2 2020.

Governance
	2020	2019	2018
Anti-corruption
Training on anti-corruption for employees13	96%	89%	n/a
Confirmed incidents of corruption
Number of incidents14	0	0	0
Impact on employees	0	0	0
Impact on contractor relations	0	0	0
Compliance
Significant fines15
Number	0	0	0
Value (USD)	0	0	0
Environmental fines
Number	0	0	0
Value (USD)	0	0	0
Non-monetary sanctions
Number	0	0	0
Environmental non-monetary sanctions
Number	0	0	0

¹³ The Company requires company-wide training in topics related to business ethics, including anti-bribery and corruptiony and measures completion rate of online training modules.

¹⁴ Incidents which have led to formal legal actions.

¹⁵ Significant fines are defined as individual fines exceeding USD 10,000.

Disclaimer

This report contains forward-looking statements. Any forward-looking statements and other information contained in this report are solely opinions and forecasts based on the current expectations, estimates and projections of the Company or assumptions based on information currently available to the Company, which are subject to risks, uncertainties and other factors that may cause actual events to differ materially from any anticipated development. Such factors may include, among others: changing oil and gas demand or prices; oil production quotas or other actions that might be imposed by the Organization of the Petroleum Exporting Countries (OPEC) and other producing or consuming countries; public health crises, such as pandemics (including COVID-19), and any related government policies and actions; risks or uncertainties associated with but not limited to the Company's business, operations, strategies, financing, market acceptance and relations with third parties. Should underlying assumptions prove incorrect, actual results may vary materially from those described in this report and as such recipients are cautioned not to place undue reliance on these forward-looking statements.

The data contained in this corporate social responsibility report is non-GAAP and unaudited. Neither the Company nor any other person assumes responsibility for the accuracy and completeness of any of the forward-looking statements contained in, and accepts no liability resulting from the use of, this report. This report does not constitute any recommendation or invitation to buy, sell or otherwise acquire securities in the Company.

This report reflects prevailing conditions and views as of the date of its release. The Company assumes no obligation and does not intend to update these forward-looking statements to reflect actual results, revised assumptions or future developments or events. The Company makes no implication that there has been no change in the affairs of the Company since the report release date.

DNO ASA Dokkveien 1 N-0250 Oslo Norway

Email: dno@dno.no Phone: (+47) 23 23 84 80 Fax: (+47) 23 23 84 81

www.dno.no

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