BlueNord ASA

BlueNord ASA: Announcement of Cash Dividend and Buyback of Shares

Oslo, 18 June 2025: Reference is made to the stock exchange notice published by

BlueNord ASA ("BlueNord" or the "Company") on 10 June 2025 where the Company

announced its intention to declare a USD 253 million distribution in connection

with the Tyra Completion Test being met, as further described therein.

Pursuant to the authorization to the board of directors to pay dividends granted

by the annual general meeting of the Company on 22 May 2025, the board of

directors has today resolved to declare a cash dividend payment of USD 203

million, NOK 76.05 per share, to shareholders registered in the Company's

shareholder register on 25 June 2025 (record date). Consequently, BlueNord's

shares will be traded ex-dividend as of 24 June 2025. Payment date is 4 July

2025. For Norwegian tax purposes, the dividend is considered repayment of paid

-in capital. In addition, the Company intends to buy back shares of up to USD 50

million, expected to take place following BlueNord's Q2 results on 10 July 2025.

To the extent the Company elects to buy back less than USD 50 million, the

remaining amount will be paid to shareholders as a dividend. Further details and

structure related to a buyback will be announced in due course.

This information is subject to the disclosure requirements pursuant to section 5

-12 of the Norwegian Securities Trading Act and in accordance with the

requirements of the Continuing Obligations.

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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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