OKEA ASA

OKEA ASA: Fixed Income Investor Meetings for Contemplated Senior Secured Bond

(Trondheim, 25 April, 2024): OKEA ASA (OSE: OKEA) ("OKEA" or the "Company") has

mandated DNB Markets, a part of DNB Bank ASA, and Pareto Securities AS as Joint

Global Coordinators and Joint Bookrunners and Arctic Securities AS as Joint

Bookrunner to arrange a series of fixed income investor meetings commencing

today.

A new 4-year senior secured bond with an initial issue amount of USD 125 million

may follow, subject to inter alia market conditions. Net proceeds from the

contemplated bond issue will be used to fund planned investments related to the

recently sanctioned Bestla (previously named Brasse) development and general

corporate purposes. In connection with the bond issue, the Company expects to

increase its super senior revolving credit facility from USD 25 million to USD

37.5 million (the "SSRCF"). No amounts are currently drawn under the SSRCF.

This information is considered to be inside information pursuant to Regulation

EU 596/2014 (MAR) and is subject to the disclosure requirements pursuant to MAR

article 17 and section 5-12 of the Norwegian Securities Trading Act. The

information was submitted for publication by Anca Jalba, VP Investor Relations,

OKEA ASA on 25 April 2024 at 06:00.

For further information, please contact:

Birte Norheim, CFO

+47 952 93 321

Anca Jalba, VP Investor Relations

+47 410 87 988

About OKEA

OKEA ASA is a leading mid- to late-life operator on the Norwegian continental

shelf (NCS). OKEA finds value where others divest and has an ambitious strategy

built on growth, value creation and capital discipline.

OKEA is listed on the Oslo Stock Exchange (OSE: OKEA).

More information at www.okea.no

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