Disclosure of Large Shareholding

02 Feb 2023 10:36 CET

Oslo, 2 February 2023 - DNO ASA, the Norwegian oil and gas operator, today
reported that it has passed the five percent threshold for disclosure of large
shareholdings following own share purchases as part of the Company's ongoing
share buyback program. Further information regarding the program appears in the
Company's stock exchange notification of 8 December 2022 and subsequent weekly
notifications providing details of transactions under the program.

As of 2 February 2023, the Company holds a total of 52,719,531 own shares,
corresponding to 5.00 percent of its share capital.

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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 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 §§ 4-2
and 5-12 of the Norwegian Securities Trading Act.

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