Notification of large shareholding

20 Dec 2022 15:09 CET

Church Bay Trust Co. Ltd ("Church Bay") has on 20 December 2022 decided that
6,075,079 shares in OKEA ASA ("OKEA"), equal to 5.85% of the total issued shares
of OKEA, shall be distributed in specie to beneficiaries of a trust (the
"Trust") for which Church Bay is a trustee (the "Distribution"). The
Distribution will be completed on 20 December 2022.

Following the Distribution, Church Bay and the Trust will not hold any shares,
voting rights, rights to shares or other financial instruments directly or
indirectly in OKEA.

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