BlueNord ASA

BlueNord: Update on the Tyra Redevelopment Project and Revision of Tyra Production Guidance for Q1 2025

Oslo 10 March 2025: Reference is made to stock exchange notice published by

BlueNord ASA ("BlueNord" or the "Company") on 28 February 2025 relating to the

Tyra Redevelopment Project (Tyra II") achieving a gas export rate above 200

mmscfpd. BlueNord has been informed by the operator, TotalEnergies, that an

operational occurrence is temporarily impacting the maximum production potential

of Tyra II.

As a result of a breaker failure in the electrical high-voltage system, parts of

the power supply have been temporarily cut. This reduced power supply impacts

production at the fields within the Tyra hub. Based on the expected delivery

time for necessary replacement parts, full operational capacity is expected to

be reached within the next four weeks. Gas export will continue in the interim

period from the Harald field.

The Tyra hub, which produced 15.1 mboepd in February, is now expected to produce

8.0 - 10.0 mboepd during Q1 2025 compared to previous guidance of 17.0 - 20.0

mboepd.

" Although this operational setback is of course disappointing, the operator has

now fully assessed the situation and put in place a plan to implement the

necessary corrective measures. We expect to restore full capacity within the

next four weeks once the required parts are in place, and we fully believe that

this one-off event does not undermine the long-term value and potential of Tyra

II to our shareholders," said Miriam Lykke, Chief Operating Officer in BlueNord.

This information is subject to disclosure requirements pursuant to section 5-12

of the Norwegian Securities Trading Act.

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Contact:

Cathrine Torgersen, Chief Corporate Affairs Officer

Phone: +47 915 28 501

About BlueNord ASA

BlueNord is a strategically important European oil and gas company that

specialises in producing and developing energy resources, and in activities

which support the energy transition. The Company has a 36.8 percent interest in

the Danish Underground Consortium (DUC) that is responsible for oil and gas

production in the Danish North Sea. BlueNord is listed on the Oslo Stock

Exchange and trades under the ticker "BNOR". For further information, please

visit: www.bluenord.com.

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