Transactions Under DNO's Share Buyback Program

23 Jan 2023 08:00 CET

Oslo, 23 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) |
+------------------------------------------------------------------------------+
|16.1.2023 310,000 12.5356 3,886,036 |
| |
|17.1.2023 800,000 12.6191 10,095,280 |
| |
|18.1.2023 700,000 12.7960 8,957,200 |
| |
|19.1.2023 518,514 12.5162 6,489,825 |
| |
|20.1.2023 740,000 12.8183 9,485,542 |
+------------------------------------------------------------------------------+
|        |
+------------------------------------------------------------------------------+
|Previously disclosed |
|buyback under the |
|Program (accumulated) 18,228,834 12.0833 220,264,313 |
+------------------------------------------------------------------------------+
|        |
+------------------------------------------------------------------------------+
|Accumulated buyback |
|under the Program 21,297,348 12.1695 259,178,196 |
+------------------------------------------------------------------------------+



Following the above transactions, the Company owns a total of 47,566,531 own
shares, corresponding to 4.51 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

580522_DNO Share Buyback Individual Transaction Overview - 23012023.pdf
580522_Release.pdf