DNO ASA

Possible Participation in Resumption of Exports Through the Iraq-Türkiye Pipeline

Oslo, 23 September 2025 - DNO ASA, the Norwegian oil and gas operator, today

announced that it welcomes the reports that agreements have been reached between

the Federal Government of Iraq, the Kurdistan Regional Government and a group of

international oil companies to resume exports of crude oil produced in Kurdistan

through the Iraq-Türkiye Pipeline.

DNO has consistently stated that it is eager to resume exports but pursuant to

agreements that ensure payment surety for both past arrears and future exports

based on the legal, economic and commercial terms of the production sharing

contracts the Company holds with Kurdistan.

"DNO's exposure is different than that of other international oil companies"

said Executive Chairman Bijan Mossavar-Rahmani. "Importantly, as the largest

producer, the arrears owed to us by the KRG dwarf those of many of the others,"

he said, "which also means that our exposure to future payment risk is also

substantially higher than any other company." Mr. Mossavar-Rahmani added that

DNO has made proposals to Erbil to address this matter through, in his words,

"easy fixes that can be quickly agreed."

DNO and its joint venture partner Genel Energy International Limited have

stepped up spending towards repairs to the damage to the Tawke and Peshkabir

fields following drone attacks in July 2025. Further investments are planned to

drill eight wells in the Tawke license in 2026 targeting gross operated

production of up to 100,000 barrels a day.

Currently, DNO's net entitlement share of oil is sold on a cash and carry basis

and transported by traders by road tanker to local refineries at a per barrel

price in the low USD 30s.

For further information, please contact:

DNO ASA is a Norwegian oil and gas operator active in the Middle East, the North

Sea and West Africa. Founded in 1971 and listed on the Oslo Stock Exchange, the

Company holds stakes in onshore and offshore licenses at various stages of

exploration, development and production in the Kurdistan region of Iraq, Norway,

the United Kingdom, Côte d'Ivoire, Netherlands and Yemen. More information is

available at www.dno.no.

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

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