DNO Reports Multi-Asset Swap with Aker BP

Core Viewpoint - DNO ASA has streamlined its Norwegian Continental Shelf portfolio through a multi-asset swap with Aker BP ASA, enhancing its position in key areas while divesting non-core assets [1][2][3]. Group 1: Transaction Details - DNO increased its stake in the Verdande field from 10.5% to 14%, which is in advanced development and set to start production later this year [2]. - In exchange, DNO will transfer its stake in the Vilje field, along with interests in the Kveikje discovery and three exploration permits to Aker BP [2][3]. - The transaction involves no cash consideration and is subject to regulatory approval [3]. Group 2: Portfolio Changes - The swap results in the following changes in interests: - Vilje: Producing, current interest 28.9%, post-deal interest – - Verdande: Under development, current interest 10.5%, post-deal interest 14% - Kveikje: Discovery, current interest 29%, post-deal interest 20% - PL1171 (Sunndal): Exploration, current interest 50%, post-deal interest 34% - PL1175 (Reka): Exploration, current interest 30%, post-deal interest 20% - PL1204 (Abel): Exploration, current interest 60%, post-deal interest 40% [4]. Group 3: Strategic Context - This transaction aligns with DNO's strategy of highgrading its North Sea portfolio, following the acquisition of Sval Energi AS in June 2025 [3].