OKEA ASA

Share Issue/Capital Change • Feb 13, 2024

Initiation of share acquisitions by employees in OKEA ASA

Trondheim, 13 February 2024

In connection with the share-based bonus program in OKEA ASA (the "Company", ticker: "OKEA"), DNB has been mandated to purchase shares in the market for an aggregate amount of up to NOK 27,890,842 in the Company on behalf of 440 employees, including primary insiders. The collective share purchase will commence today and is expected to be completed on 28 February 2024 at the latest.

Shares awarded under the Company's share-based bonus program 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, and 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:

VP IR & Communication, Anca Jalba anca.jalba@okea.no +47 41 08 79 88

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 is available at ww.okea.no