OKEA ASA – NOK 1.00 dividend payment payable on or about 15 June

(Trondheim, 4 May 2023) - OKEA ASA (OSE: OKEA): On 12 May 2022 the annual general meeting of OKEA granted the board of directors an authorisation to approve distribution of dividends based on the company's annual accounts for 2021. The board of directors has now approved a cash dividend of NOK 1.00 per share which will be paid in June. The board of directors also reaffirms its intention to distribute NOK 1.00 per share in each of the coming quarters of 2023.

Dividend payment in Q2 2023

The board has resolved to distribute a cash dividend payment of NOK 103.9 million (NOK 1.00 per share) in June 2023. Ex-dividend date is 2 June 2023, and record date is 5 June 2022. Payment is expected on or about 15 June 2023.

Dividend plan for 2023

The board is also reaffirming its intention to distribute NOK 1.00 per share in each of the coming quarters of 2023 for a total intended dividend payment of NOK 4.00 per share in 2023. Future dividend payments in 2023 are subject to an authorisation from the general meeting and may be revised due to changes in the market environment, company situation and/or value accretive opportunities available.

For further information, please contact: VP IR & Communication, Anca Jalba, + 47 410 87 988.

The information pertaining to dividend for Q2 2023 is subject to the disclosure requirements of Oslo Rule Book II section 4.2.4.

About OKEA

OKEA ASA is a leading mid- to late-life operator on the Norwegian continental shelf (NCS). OKEA finds value where others divest and has an ambitious strategy built on growth, value creation and capital discipline.

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

More information at www.okea.no