DNO ASA - Share Issue/Capital Change 2023

DNO Completes Share Capital Reduction

Oslo, 17 August 2023 - DNO ASA, the Norwegian oil and gas operator, today

announced that the cancellation of all 79,376,509 own shares held by the

Company, representing 7.53 percent of shares outstanding, has been completed.

This reduction of share capital was approved by shareholders at the Annual

General Meeting on 25 May 2023.

The creditor notice period for the share capital reduction expired on 19 July

2023 and the new share capital has been registered with the Norwegian Register

of Business Enterprises.

The Company's new registered share capital is NOK 243,750,000 divided on

975,000,000 shares, each with a nominal value of NOK 0.25.

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.

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

AI assistant