OKEA ASA — Capital/Financing Update 2020

Jul 2, 2020

Denne melding til obligasjonseierne er kun utarbeidet på engelsk. For informasjon vennligst kontakt Nordic Trustee AS

To the bondholders in:

ISIN NO0010869175 - OKEA ASA Senior Secured Bond Issue 2019/2024 (the "OKEA03 Bond Issue")

Oslo, 1 July 2020

Withdrawal of summons to Bondholders' Meeting

Nordic Trustee AS (the "Bond Trustee") is the appointed bond trustee for the holders of the bonds (the "Bondholders") in the abovementioned bond issue issued by OKEA ASA.

Defined terms used in this withdrawal shall have the meaning given to them in the Bond Terms for the OKEA03 Bond Issue unless otherwise set out herein or required by the context.

On 23 June 2020 the Bond Trustee issued a summons to a Bondholders' Meeting (the "Ad Hoc Bondholders Summons") pursuant to a written request from the Ad Hoc Bondholders (as defined in the Ad Hoc Bondholders Summons), in accordance with the terms of the Bond Terms.

The Ad Hoc Bondholders have now instructed the Bond Trustee to withdraw the Ad Hoc Bondholders Summons. The Bondholder's Meeting scheduled for 7 July 2020 will thus be cancelled.

Yours sincerely Nordic Trustee AS

Ellen Søiland