Partial Bond Cancellation Completed

Oslo, 30 August 2022 – DNO ASA, the Norwegian oil and gas operator, has completed cancellation of USD 25,431,004 in DNO03 bonds (ISIN: NO0010852643). Following cancellation, the outstanding amount of the DNO03 bond is USD 150,727,996.

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For further information, please contact:
Media: media@dno.no
Investors: investor.relations@dno.no

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DNO ASA is a Norwegian oil and gas operator focused on the Middle East and the
North Sea. Founded in 1971 and listed on the Oslo Stock Exchange, the Company
holds stakes in onshore and offshore licenses at various stages of exploration,
development and production in the Kurdistan region of Iraq, Norway, the United
Kingdom, Netherlands and Yemen.

This information is subject to disclosure pursuant to section 5-12 of the
Norwegian Securities Trading Act and section 6.2.2 (2) of Euronext Oslo Rulebook
II.