OKEA ASA

Remuneration Information • Jun 8, 2022

OKEA ASA - Initiation of share acquisitions by primary insiders

OKEA ASA - Initiation of share acquisitions by primary insiders

Trondheim, 8 June 2022

Primary insiders and certain other employees of OKEA ASA (the "Company", ticker:

"OKEA") have mandated Pareto Securities to carry out a collective purchase of up

to 156,050 shares in the Company, in connection with settlement of shares under

the established long-term incentive program for senior management and certain

other employees. The collective share purchase will start today and is expected

to be terminated on 10 June 2022 at the latest.

Shares awarded under the Company's long term incentive plan have ordinarily been

issued to participants by the Company at par value, however, the board of

directors has resolved that the share awards will instead be settled in cash

that the participant's shall use to acquire shares in the market. The shares

will be subject to a 12-month lock-up period from the date of purchase.

All share purchases will be executed on Euronext Oslo Børs. The execution of any

purchases will depend on market conditions, the share acquisitions may be

discontinued at any time and it may be resolved to terminate the purchases

before the threshold set above is reached.

For further information, please contact:

CFO, Birte Norheim, + 47 952 93 321

VP Legal, Marit Moen Vik-Langlie, +47 407 63 671

About OKEA

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

shelf (NCS) with a current target production of 18,500 - 20,000 boe per day in

2022. 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