Registration of Share Capital Increase

Oslo, 13 October 2022 – DNO ASA, the Norwegian oil and gas operator, refers to the 11 October 2022 announcement on the closing of the transaction with RAK Petroleum plc ("RAK Petroleum”) by which the Company will acquire assets in West Africa.

Pursuant to the approval given by DNO’s Extraordinary General Meeting of 13 September 2022, the Company has issued 78,943,763 new shares to RAK Petroleum as consideration for the asset transfer between the companies. The new shares have today been registered with the Norwegian Register of Business Enterprises (Brønnøysundregistrene).

Following the registration, DNO’s share capital is NOK 263,594,127.25 divided into 1,054,376,509 shares, each with a nominal value of NOK 0.25.

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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 the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.