OKEA ASA - Share Issue/Capital Change 2021

OKEA ASA - New share capital registered

Reference is made to the stock exchange notice published on 24 March 2021

regarding the issuance of new shares in OKEA ASA (the "Company"). The share

capital increase related to the issuance of 502,700 new shares in connection

with a long-term retention incentive program for selected senior management and

key employees in the Company has now been registered with the Norwegian Register

of Business Enterprises.

The Company's new share capital is NOK 10,300,535.00 divided into 103,005,350

shares, each with a par value of NOK 0.10.

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

-12 of the Norwegian Securities Trading Act.

The stock exchange announcement was published by Trond Omdal, VP Investor

Relations, OKEA ASA.

For further information, please contact:

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

Trond Omdal, VP Investor Relations, +47 915 32 578

About OKEA ASA

OKEA ASA is an independent Exploration and Production (E&P) company and operator

on the NCS with a current production of ~16,000 boepd. OKEA targets profitable

production growth within the current portfolio combined with an opportunistic

approach to M&A.

OKEA ASA is listed on the Oslo Stock Exchange under the ticker "OKEA". More

information on www.okea.no

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