DNO Reports Multi-Asset Swap with Aker BP

05 Nov 2025 07:00 CET

Oslo, 5 November 2025 - DNO ASA, the Norwegian oil and gas operator, today
reported a streamlining of its Norwegian Continental Shelf portfolio through a
multi-asset swap with Aker BP ASA.

The transaction strengthens DNO's portfolio by increasing its stake in the
Verdande field in one of the Company's core areas, Norne in the Norwegian Sea,
from 10.5 to 14 percent. Verdande is currently in advanced development and
scheduled to start production later this year. In exchange, the Company will
transfer its stake in the non-core Vilje field and interests in the Kveikje
discovery and three exploration permits to Aker BP.

The swap is in line with DNO's strategy of highgrading its North Sea portfolio
following the acquisition of Sval Energi AS in June 2025.

The transaction involves no cash consideration and is subject to authorities'
approval.


Changes in interests:

Asset Status Current Interest Post-Deal Interest

Vilje Producing 28.9% -

Verdande Under development 10.5% 14%

Kveikje Discovery 29% 20%

PL1171 (Sunndal) Exploration 50% 34%

PL1175 (Reka) Exploration 30% 20%

PL1204 (Abel) Exploration 60% 40%

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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, DNO is Norway's oldest oil company and the
first to list on the Oslo Stock Exchange in 1981. 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. More information is available at www.dno.no.

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

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