OKEA ASA: Fixed Income Investor Meetings for Contemplated Senior Secured Bond

(Trondheim, 25 April, 2024): OKEA ASA (OSE: OKEA) ("OKEA" or the "Company")hasmandated DNB Markets, a part of DNB Bank ASA, and Pareto Securities AS asJointGlobal Coordinators and Joint Bookrunners and Arctic Securities AS as JointBookrunner to arrange a series of fixed income investor meetings commencingtoday.

A new 4-year senior secured bond with an initial issue amount of USD 125millionmay follow, subject to inter alia market conditions. Net proceeds from thecontemplated bond issue will be used to fund planned investments related totherecently sanctioned Bestla (previously named Brasse) development and generalcorporate purposes. In connection with the bond issue, the Company expects toincrease its super senior revolving credit facility from USD 25 million to USD37.5 million (the "SSRCF"). No amounts are currently drawn under the SSRCF.

This information is considered to be inside information pursuant to RegulationEU 596/2014 (MAR) and is subject to the disclosure requirements pursuant toMARarticle 17 and section 5-12 of the Norwegian Securities Trading Act. Theinformation was submitted for publication by Anca Jalba, VP InvestorRelations,OKEA ASA on 25 April 2024 at 06:00.

For further information, please contact:

Birte Norheim, CFOBirte.norheim@okea.no+47 952 93 321

Anca Jalba, VP Investor RelationsAnca.jalba@okea.no+47 410 87 988

About OKEAOKEA ASA is a leading mid- to late-life operator on the Norwegian continentalshelf (NCS). OKEA finds value where others divest and has an ambitiousstrategybuilt on growth, value creation and capital discipline.

OKEA is listed on the Oslo Stock Exchange (OSE: OKEA).

More information at www.okea.no

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