Dno Asa Class A · OSL:DNO
Dno Asa Class A — Dno Asa Ord — Q2 2026 Earnings Presentation
11 slides from Dno Asa Class A's earnings presentation, Aug 13, 2026
Slide 1: Q2 2026 Interim Results Presentation
Q2 2026 Interim Results Presentation
Slide 2: North Sea turns price rally into record revenue
North Sea turns price rally into record revenue • With Kurdistan production shut in through most of the quarter, net production Net production averaged 88,400 barrels of oil equivalent per day (boepd), of which North Sea thousand boepd 149.7 accounted for 84,900 boepd, West Africa 3,200 boepd and Ku
Slide 3: Strong performance, ups 2026 North Sea output guidance
Strong performance, ups 2026 North Sea output guidance • Strong quarterly production performance, notwithstanding high seasonal North Sea net production split maintenance activity thousand boepd 86.8 • Two new tie-back developments on stream in the quarter, Symra (20 6% percent) and Dvalin North (10
Slide 4: Updated North Sea 2026 exploration program
Updated North Sea 2026 exploration program Pre-drill Chance Chance Post-drill volumes of of DNO 2026 volumes License Name Type (MMboe) Success* Commerciality* interest Q1 Q2 Q3 Q4 (MMboe) 1 PL1148 Carmen Appraisal N/A Discovery Medium 30% 21-107 2 PL293 Afrodite Appraisal N/A Discovery Low 10% 3 PL6
Slide 5: Kurdistan operations update
Kurdistan operations update • As precautionary safety measure, the Company halted production and drilling on its operated Tawke license (75 percent) following the launch of U.S.-Israeli air strikes against Iran on 28 February 2026 • Limited field operations restarted at the Tawke license on 9 April
Slide 6: Providing an attractive opportunity for Genel shareholders
Providing an attractive opportunity for Genel shareholders • On 7 August, DNO announced a possible offer to acquire Genel Energy plc • Indicative offer of 69 pence per share represents a premium of 38 percent to the last closing price prior to the announcement • Provides certainty of value irrespect
Slide 7: Financial results
Financial results Revenues Operating profit Net profit USD million 761 USD million USD million 627 547 482 439 284 258 222 177 86 83 51 20 -7 -34 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Page 7
Slide 8: Cash flow
Cash flow • Q2 2026 operational cash flow of USD 639 million Q2 2026 cash flow (USD 383 million in Q1 2026) USD million • North Sea tax instalments of USD 98 million paid in Q2 2026 (USD 64 million in Q1 2026) 639 • Net investing activities of USD 228 million (USD -98 153 million in Q1 2026) driven
Slide 9: Balance sheet
Balance sheet Total Property, Plant and Equipment Net debt Total equity USD million USD million USD million 3,174 3,029 3,010 2,813 2,746 1,434 1,411 1,329 1,327 1,364 860 886 808 790 553 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Slide 10: Important notice
Important notice This presentation (the “Presentation”) has been prepared and delivered by DNO ASA (“DNO” or the “Company”). Copyright of all published material including photographs, drawings and images in this document remains vested in DNO and third party contributors as appropriate. Accordingly,
Slide 11: Slide 11