Transactions Under DNO's Share Buyback Program

16 Jan 2023 08:00 CET

Oslo, 16 January 2023 - DNO ASA, the Norwegian oil and gas operator, today
reported the below transactions made under the Company's share buyback program,
which commenced 9 December 2022 and will end no later than 30 April 2023. For
further information regarding the program, please see the Company's stock
exchange notification from 8 December 2022.

Overview of transactions:

+------------------------------------------------------------------------------+
| Aggregate daily Weighted average |
|Date volume (number of share price Total transaction |
| shares) (NOK) value (NOK) |
+------------------------------------------------------------------------------+
|9.1.2023 760,000 12.4677 9,475,452 |
| |
|10.1.2023 700,000 12.3756 8,662,920 |
| |
|11.1.2023 503,834 12.2974 6,195,848 |
| |
|12.1.2023 575,000 12.3856 7,121,720 |
| |
|13.1.2023 580,000 12.5136 7,257,888 |
+------------------------------------------------------------------------------+
|        |
+------------------------------------------------------------------------------+
|Previously disclosed |
|buyback under the |
|Program (accumulated)  15,110,000 12.0153  181,550,485  |
+------------------------------------------------------------------------------+
|        |
+------------------------------------------------------------------------------+
|Accumulated buyback |
|under the Program 18,228,834 12.0833 220,264,313 |
+------------------------------------------------------------------------------+

Following the above transactions, the Company owns a total of 44,498,017 own
shares, corresponding to 4.22 percent of its share capital.

An overview of all the completed transactions under the program for the dates
specified above is attached to this notification and available on
www.newsweb.no.

-

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

-

DNO ASA is a Norwegian oil and gas operator active in the Middle East, the North
Sea and West Africa. 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, Côte d'Ivoire, Netherlands and Yemen.

This information is subject to the disclosure requirements pursuant to §5-12 of
the Norwegian Securities Trading Act and the EU Market Abuse Regulation.

More information:
Access the news on Oslo Bors NewsWeb site

580178_DNO Share Buyback Individual Transaction Overview - 16012023.pdf
580178_Release.pdf