OKEA ASA

Share Issue/Capital Change • Sep 9, 2019

OKEA - issuance of shares pursuant to incentive programs and warrants. Notifiable trading

OKEA - issuance of shares pursuant to incentive programs and warrants. Notifiable trading

OKEA - issuance of shares pursuant to incentive programs and warrants.

Notifiable trading

The General Meeting in OKEA ASA ("OKEA" or the "company") granted on May 9 2019

an authorization to the board of directors to issue up to 1,650,000 new shares

for the implementation of the company's incentive programs for its employees and

board of directors.

The company has today resolved to establish a long-term share incentive program

for its key employees. The estimated numbers of shares included in the program

during the next 12 months will be limited to an issue of 620,000 new shares. Any

shares subsequently issued under the long-term share incentive program will be

subject to a 12 months lock-up period.

Further, pursuant to the above authorization the board has today resolved to

issue 210,000 new shares in connection with an approved incentive program for

the members of the board.

The program for the board is both related to the successful completion of the

listing of the company's shares in June 2019 and an incentive for continued work

and dedication to the company's development and success. The subscription price

is NOK 0.10 per share. The shares are subject to a lock-up period of 12 months.

The following board members who are primary insiders have subscribed for and

been allocated the following number of shares (the total number of shares in the

company following this issue in brackets):

Chaiwat Kovavisarach, 30,000 shares (30,000 shares), Prisana Praharnkhasuk,

20,000 shares (20,000 shares), Michael William Fischer, 20,000 shares (20,000

shares), Liv Monica Stubholt, 20,000 shares (20 000 shares), Rune Olav Pedersen,

20,000 shares (20 000 shares), Nicola Gordon, 20,000 shares (20,000 shares), Ida

Ianssen Lundh, 20,000 shares (46,280 shares), Finn Haugan, 20,000 (43,535

shares), Jan Atle Johansen, 20,000 shares (31,902 shares) and Anne Lene Rømuld,

20,000 shares (27,142 shares).

In addition to the above, the board has today also approved the issuance of

15,000 new shares pursuant to exercise of warrants held by an employee. The

warrants were issued by the General Meeting on 23 February 2018. The

subscription price in this issue is NOK 17.9 per share.

Following the above share issuances, the total number of outstanding shares in

the company will increase from 101,839,050 shares to 102,064,050 shares. The

company's share capital will increase from NOK 10,183,905 to NOK 10,206,405.00.

Contact persons:

Marit Vik-Langlie, VP Legal, + 47 40763671

Erik Haugane, CEO, +47 90721655