OKEA ASA — M&A Activity 2022

Oct 5, 2022

OKEA ASA - Notification of termination of contemplated divestment of shares by BCPR

OKEA ASA - Notification of termination of contemplated divestment of shares by BCPR

(Trondheim, 5 October 2022) Reference is made to the notice from the company on

8 September 2022, where the company informed of a notification received from its

shareholder BCPR Pte Ltd (BCPR) of a contemplated divestment of shares in OKEA,

representing up to approximately 2.8% of the total outstanding shares in the

company. The company has today been informed by BCPR that the divestment process

has been terminated with immediate effect.

The notification from the shareholder can be found on www.okea.no.

For further information, please contact:

Birte Norheim, OKEA CFO, at +47 95 29 33 21

This information is subject to the disclosure requirements pursuant to section 5

-12 of the Norwegian Securities Trading Act.

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