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OKEA ASA

Earnings Release • Nov 16, 2018

3701_rns_2018-11-16_46eb1efe-96b6-4d62-9ad4-dcac7e028551.html

Earnings Release

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OKEA AS Financial Report for Q3 2018

OKEA AS Total operating income for the third quarter 2018 was NOK 134.9 million, compared to NOK 8.7 million in the same period last year. This includes income of NOK 115 million relating to the Yme insurance settlement. Profit from operating activities were NOK 75.5 million (-13.1). Net loss for the third quarter was -64.4 (-6.4).

Related to bond terms for OKEA01, the tax/shelter ratio was 1.41 for Q3 2018.

Following the Shell transaction, the board of directors in OKEA are of the opinion that the company is well positioned for further growth, both organic and inorganic. The company is actively pursuing new business development opportunities to grow and strengthen the company.