OKEA ASA — Capital/Financing Update 2021

Aug 5, 2021

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