DNO Receives 10 Awards in Norway's APA Licensing Round

Oslo, 19 January 2021 – DNO ASA, the Norwegian oil and gas operator, today announced that its wholly-owned subsidiary DNO Norge AS has been awarded participation in 10 exploration licenses, of which 4 are operatorships, under Norway's Awards in Predefined Areas (APA) 2020 licensing round.

Of the 10 new licenses, six are in the North Sea and four in the Norwegian Sea. Prior to today's announcement, DNO held interests in 76 licenses offshore Norway, of which 19 are operated by the Company.

The new awards under the APA 2020 licensing round include:

PL836 SB: Wintershall DEA Norge AS (operator), Spirit Energy Norway AS, DNO Norge AS (30%)

PL1084: Lundin Energy Norway AS (operator), DNO Norge AS (40%)

PL1086: DNO Norge AS (operator, 50%), Petoro AS, Source Energy AS

PL1102: Lundin Energy Norway AS (operator), DNO Norge AS (40%)

PL1106: DNO Norge AS (operator, 40%), Petoro AS, Petrolia Noco AS, Lundin Energy Norway AS

PL1108: DNO Norge AS (operator, 40%), Pandion Energy AS, OKEA ASA

PL1109: OMV (Norge) AS (operator), ONE-Dyas Norge AS, DNO Norge AS (30%)

PL1112: A/S Norske Shell (operator), Neptune Energy Norge AS, Spirit Energy Norge AS, DNO Norge AS (20%)

PL1120: DNO Norge AS (operator, 40%), Equinor Energy AS, Vår Energy AS, Wintershall DEA Norge AS

PL1127: Equinor Energy AS (operator), Total E&P Norge AS, DNO Norge AS (20%)

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DNO ASA is a Norwegian oil and gas operator focused on the Middle East and the North Sea. 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, Netherlands, Ireland and Yemen.

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