Dno Asa Class A · OSL:DNO
Dno Asa Class A — Merger or Acquisition (March 2025)
13 slides from Dno Asa Class A's merger presentation, Mar 7, 2025
Slide 1: Acquisition of Sval Energi Group AS
Acquisition of Sval Energi Group AS 7 March 2025
Slide 2: Sval Energi acquisition is transformational for DNO
Sval Energi acquisition is transformational for DNO Sval Energi Overview Key figures1 • USD 1.6 billion acquisition of Sval Energi Group AS from HitecVision • Non-operated interests in 16 Norwegian Continental Shelf (NCS) producing fields including in Greater Ekofisk and Gjøa areas and Martin Linge
Slide 3: Sval Energi's portfolio fits like a glove on DNO's hand
Sval Energi’s portfolio fits like a glove on DNO’s hand • Sval Energi is a rare opportunity to acquire a portfolio of high-quality oil and gas NCS assets • And DNO has moved fast to capture it • Brings scale and diversification to the Company • Boosts global production by two thirds to around 140,00
Slide 4: Propels DNO to the upper ranks of NCS companies
Propels DNO to the upper ranks of NCS companies NCS production 2024 per company NCS reserves yearend 2024 per company Thousand boepd MMboe 600 200 500 400 150 300 100 +5.4x 200 +3.8x 50 100 - - Source: Norwegian Offshore Directorate Page 4 Acquisition of Sval Energi AS
Slide 5: Highly complementary North Sea portfolios
Highly complementary North Sea portfolios DNO North Sea Sval Energi Combined North Sea 48 192 102 243 435 189 MMboe MMboe 246 MMboe 141 144 2P reserves 2C resources 2P reserves 2C resources 2P reserves 2C resources 2P reserves 2C resources Source: DNO preliminary 2024 yearend figures. Sval Energi’s
Slide 6: Active program to maintain the higher North Sea output
Active program to maintain the higher North Sea output • Step change acquisition of Sval Energi follows the Net production (thousand boepd) 2024 Arran and Norne area acquisitions in the 100 North Sea • Post acquisition, DNO will have multiple ongoing field developments including Andvare, Verdande, B
Slide 7: Sval Energi portfolio overview
Sval Energi portfolio overview Area Field Stake Operator Reserves and Status 1 resources1 Maria 20% 17.5 Producing 1 Fenja 17.5% 9.6 Producing Norwegian Sea Dvalin 10% 8.6 Producing Dvalin North 10% 8.4 Development Kvitebjørn 19% 21.0 Producing 2 Nova 45% 30.2 Producing 2 Duva & Cerisa 10% 5.5 Produ
Slide 8: Solidifying DNO's position as a leading European independent
Solidifying DNO's position as a leading European independent Production 2024 per company1,2 Reported 2P reserves per company1,3 Thousand boepd MMboe 965 886 141 +1.8x 530 493 118 114 106 423 +1.5x 366 340 77 282 65 61 229 47 186 175 41 39 165 35 34 33 140 28 114 104 25 93 20 89 88 18 18 10 35 1) Eur
Slide 9: Transformative impact on DNO across key metrics
Transformative impact on DNO across key metrics EBITDAX (USD million) 422 1,428 +4.4x CFFO (USD million) 432 565 +2.3x Production (boepd) 77,300 64,100 +1.8x 2P reserves (MMboe) 282 141 +1.5x Fields 21 19 +1.9x 0% 20% 40% 60% 80% 100% DNO Sval Energi CFFO (Cash flow from operations) includes net wor
Slide 10: Acquisition increases scale and rebalances portfolio
Acquisition increases scale and rebalances portfolio Production 2024 2P reserves Thousand boepd MMboe +1.8x 141 +1.5x 423 189 79 282 77 48 15 234 234 62 62 Pre Sval Post Sval Pre Sval Post Sval Kurdistan & Côte d’Ivoire North Sea Kurdistan & Côte d’Ivoire North Sea Source: DNO 2P reserves based on p
Slide 11: Highlights
Highlights • DNO moved fast to capture a rare opportunity to acquire Sval Energi’s portfolio of high-quality oil and gas assets • Bringing scale and diversification to DNO • Boosts global production by two thirds to around 140,000 boepd and 2P reserves by 50 percent to 423 million boe • At 80,000 bo
Slide 12: 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 13: Slide 13