Disclosure of Shareholdings by PDMRs and a Close Associate

United Kingdom, 11 October 2022 Reference is made to the announcement by RAK Petroleum plc (the “Company”) earlier today regarding the successful completion of the plan to transfer the Company’s interest in Mondoil Enterprises LLC to DNO ASA (“DNO”) for 78,943,763 new DNO shares, following which the Company will distribute all its DNO shares and USD 20 million in cash to its shareholders through a UK court-approved capital repayment (the "Capital Repayment"). The completion of the Capital Repayment has triggered obligations to disclose shareholdings by Persons Discharging Managerial Responsibilities (PDMRs) in the Company and their close associates. Bijan Mossavar-Rahmani, Executive Chairman, Bjørn Dale, board member, Kevin Toner, Managing Director and General Counsel, and Shelley Watson, Chief Operating Officer and Chief Financial Officer, are PDMRs with regard to the Company. DNO ASA is considered a close associate. Please see the forms of notification and public disclosure by PDMRs and their close associate attached. This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. For further queries, please contact the Company's Managing Director, Kevin Toner: kevin.toner@rakpetroleum.uk About RAK Petroleum plc: RAK Petroleum plc is an Oslo Stock Exchange listed oil and gas investment company established under the laws of England and Wales as a public limited company. As disclosed in a prior announcement today, today is the last day of trading of the Company’s Class A Shares on the Oslo Stock Exchange.