DNO ASA — Environmental & Social Information 2021

Mar 18, 2021

Country-by-Country Report 2020

In line with the Norwegian Accounting Act and Norwegian Securities Trading Act, the Company has prepared a country-by-country report for its activities in the extractive industries, including information on investments, revenue, production, cost and the number of employees in each country of operation by subsidiary. Among other requirements, total payments to governmental bodies during the financial year must be broken down by country and by payment type.

Additional information regarding the Group's performance in each geographic area can be found in Note 2 of the DNO ASA's 2020 Annual Accounts. A complete list of the Group's oil and gas license portfolio is disclosed in Note 24 to the Annual Accounts.

(USD million)											Net inter
License, legal entity level	Country of		Net				Corporate Special Area Contractual Invest-					company Profit/-loss Tax income/			Number of
and country/region of operation1	incorporation2 Royalty3		production4	income tax5	tax6	fee7				bonuses8 ments9 Revenue10 Expenditure12 interest13 before tax10			-expense11		Equity10 employees14
Tawke		-116.5	77 749	-	-452.3 -0.1		-1.3	-	-	-	-	-	-	-
Erbil		-	-	-	-	-	-0.6	-	-	-	-	-	-	-
Baeshiqa		-	-	-	-	-	-0.4	-	-	-	-	-	-	-
DNO Iraq AS Total Kurdistan region of Iraq	Norway	- -116.5	- 77 749	- -	- -452.3 -0.1	-	-	93.5 -2.3 93.5	369.1 369.1	-337.5 -337.5	- -	15.7 15.7	- -	1 004.2 1 004.2	997
DNO North Sea (Norge) AS	Norway	-	-		16.2 41.2	-	-	-	-	-0.0	4.4	5.2	-0.6	6.9
DNO Norge AS	Norway	-	16 465		45.7 123.3 -4.3		-	153.8	234.6	-276.0	-19.5	-124.9	80.1	50.5
Total Norway (NCS)		-	16 465		61.9 164.6 -4.3		-	153.8	234.6	-276.0	-15.1	-119.7	79.6	57.4	114
DNO North Sea (U.K.) Limited	UK	-	764	-	-	-0.1	-	-4.3	10.8	-13.0	-	-18.2	-7.7	-193.4
DNO North Sea (ROGB) Limited	UK	-	123	6.1		3.7 -0.0	-	-2.1	1.8	-1.4	-	0.5	1.9	-72.6
DNO Exploration UK Limited	UK	-	-	-	-	-	-	-	-	0.6	-	0.6	-	-1.5
Total United Kingdom (UKCS)		-	887	6.1		3.7 -0.1	-	-6.4	12.6	-13.8	-	-17.1	-5.9	-267.5	-
Block 47		-	-	-	-	-	-	-	-	-	-	-	-	-
DNO Yemen AS	Norway	-	-	-	-	-	-	-	-	-4.2	-	-4.2	0.5	-48.4
Total Yemen		-	-	-	-	-	-	-	-	-4.2	-	-4.2	0.5	-48.4	3
DNO Mena AS	Norway	-	-	-	-	-	-	-	-	-0.0	-	0.0	-	3.9
DNO ASA	Norway	-	-	-	-	-	-	1.1	22.9	-25.2	0.2	-319.4	-	139.6	57
DNO Technical Services AS	Norway	-	-	-	-	-	-	1.9	18.2	-18.2	-	-0.0	-	5.3	67
DNO North Sea plc	UK	-	-	-	-	-	-	0.9	-	-1.3	13.7	356.0	-	713.3	19
Other		-	-	-	-	-	-	-	-	-1.3	1.2	0.1	-	-1.6
Other *		-	-	-	-	-	-	4.0	41.1	-46.0	15.1	36.8	-	860.6	143
Eliminations/ Intercompany									-42.6	24.2	0.0	-337.1	65.7	-760.7
GRAND TOTAL		-116.5	95 101		68.0 -284.0 -4.4			-2.3 244.9	614.9	-653.5	0.0	-425.7	139.8	845.6	1 257

* Other includes subsidiaries of DNO ASA that did not hold oil and gas licenses during the year.

1 Country/region of operation is the country where the company carries out its main activity.

2 Country of incorporation is the jurisdiction in which the legal entity is registered.

3 Royalty is a fee payable to the Kurdistan Regional Government before distribution of cost oil and profit oil.

4 5 Company working interest production in barrels of oil equivalent per day (boepd). Corporate tax received/-paid during the year. In Norway, corporate income tax relate to a tax refund of exploration costs and tax losses.

In the UK, corporate income tax received relate to carry back of decommissioning loss.

6 Special tax received/-paid during the year. In Kurdistan, special tax represent Group's share of government take.

In Norway, the special tax relate to a tax refund of exploration costs and tax losses. In the UK, special tax relate to carry back of decommissioning loss.

7 Area fee in Kurdistan and Norway.

8 Contractual bonuses include environment funds, training funds and rental fees.

9 Investments as presented in the consolidated financial statements and include estimate changes in asset retirement obligations.

10 Revenues, expenditure, profit/-loss before tax and equity at entity level in accordance with the accounting principles in the consolidated financial statements and include

11 intercompany transactions. Audit of statutory financial statements has not been completed at the time of issuing this report. Tax income/-expense for the year.

12 Expenditure as presented in accordance with the accounting principles in the consolidated financial statements and includes cost of goods sold, administrative expenses,

other operating expenses and exploration costs expensed including intercompany transactions.

13 14 Number of employees at yearend. Net intercompany interest expense/-income to/from Group companies incorporated in another jurisdiction.

Country-by-Country Report 2020 DNO