OKEA ASA – Update on amendment process

Trondheim, 23 June 2020 - OKEA ASA (“OKEA” or the “Company”) has been informed by the Nordic Trustee that a small group of Bondholders representing in excess of 10% of the outstanding bonds in OKEA03 has requested to put forward a separate summons to a Bondholders’ meeting in OKEA03 to be held on 7 July 2020 (available on www.stamdata.no).

For the avoidance of doubt, the Company confirms that the Bondholders' meetings summoned by the Company will proceed as planned on 29 June 2020. For further information, reference is made to the announcement provided by OKEA on 18 June 2020.

For further information, please contact:

Birte Norheim, CFO OKEA, +47 952 93 321

DNB Markets: +47 24 16 90 17, bond.syndicate@dnb.no