OKEA ASA

Capital/Financing Update • Aug 5, 2021

OKEA ASA - Put option period ended

OKEA ASA - Put option period ended

Trondheim 5 August 2021 - Reference is made to announcement made on 5 July 2021

regarding the occurrence of a Put Option Event (as defined in the bond terms of

OKEA02 (ISIN NO 001 0826852) and OKEA03 (ISIN NO 001 0869175). The exercise

period expired on 4 August 2021 and OKEA has been notified by the Paying Agent

that no Bondholder has exercised the Put Option.

For further info please contact:

Birte Norheim, CFO, + 47 952 93 321

About OKEA

OKEA ASA is an independent Exploration and Production (E&P) company and operator

on the Norwegian Continental Shelf with a current production around 16,000

boepd. OKEA targets profitable production growth within the current portfolio

combined with an opportunistic approach to M&A. OKEA ASA is listed on the Oslo

Stock Exchange under the ticker "OKEA".

More information on

www.okea.no (https://eur01.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww

.okea.no%2F&data=04%7C01%7Ctrond.omdal%40okea.no%7Cb4e0bb96b5694865fce508d93f28ce

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00&sdata=bev4VURdhcv3lLnkLKmdIB%2BAHSmuHszWqVNrWQu1rf0%3D&reserved=0)