BlueNord ASA

Earnings Release • Jun 23, 2025

BlueNord: Trading Update for Second Quarter 2025

BlueNord: Trading Update for Second Quarter 2025

Oslo, 23 June 2025: BlueNord ASA («BlueNord» or the "Company")'s results for the

second quarter 2025 are scheduled, as per the Company's current financial

calendar, to be announced by the Company on 10 July 2025 and to be approved by

the Board of Directors of the Company prior to such announcement. Due to the

proximity of the contemplated bond offering and BNOR15 buy-back, as further

described in a separate announcement from the Company today, BlueNord provides

the following selected, preliminary and estimated figures related to the

Company's Q2 2025 results:

· Preliminary production for month-to-date June 2025: 44.5 mboepd of which

21.7 mboepd is from the base assets Dan, Gorm and Halfdan and c.22.8 mboepd is

from the Tyra hub. Highest production seen from Tyra per 23 June 2025 is c.28

mboepd.

· Estimated and preliminary EBITDA for Q2 2025 of c. USD 131 million.

· Estimated and preliminary Operating Cash Flow for Q2 2025 of c. USD 53

million.

· Estimated and preliminary Cash on Balance Sheet per 23 June 2025 of c. USD

429 million

The Company provides this information based on the current status of completing

its second quarter 2025 results and report. It is emphasised that the second

quarter 2025 has not ended, and further that the Company has not completed all

its financial reporting and related consolidation, review and control

procedures. The estimates provided in this release are therefore subject to

finalisation and change. Consequently, the second quarter 2025 results finally

approved and released by the Company may deviate from the information included

herein.

The information provided in this release includes certain alternative

performance measures ("APMs"). These APMs are consistent with those used in the

Company's annual and quarterly financial statements and reference is made to the

Company's annual report for 2024 for definition and use of the APMs.

This information is considered to be inside information pursuant to Regulation

EU 596/2014 (MAR) and is subject to the disclosure requirements pursuant to MAR

article 17 and section 5-12 of the Norwegian Securities Trading Act. The

information was submitted for publication by Cathrine Torgersen, Chief Corporate

Affairs Officer, BlueNord ASA at the time and date set out above.

***

Contact:

Cathrine Torgersen, Chief Corporate Affairs Officer

Phone: +47 915 28 501

Email: cathrine.torgersen@bluenord.com

Forward looking information

This document contains forward-looking statements. All statements other than

statements of historical fact included in this information are forward-looking

statements. Forward-looking statements are current expectations and projections

relating to the Company's financial condition, results of operations, plans,

objectives, future performance and business. These statements may include,

without limitation, any statements preceded by, followed by or including words

such as "target,"  "believe," "expect," "aim," "intend," "may," "anticipate,"

"estimate,"  "plan," "project," "will," "can have," "likely," "should," "would,"

"could" and other words and terms of similar meaning or the negative thereof.

Such forward-looking statements involve known and unknown risks, uncertainties

and other important factors beyond the Company's control that could cause the

Company's actual results, performance or achievements to be materially different

from the expected results, performance or achievements expressed or implied by

such forward-looking statements. Such forward-looking statements are based on

numerous assumptions regarding the Company's present and future business

strategies and the environment in which it will operate in the future.

The Company does not provide any guarantees that the assumptions underlying the

forward-looking statements in this announcement are free from errors nor does it

accept any responsibility for the future accuracy of the opinions expressed in

this announcement or any obligation to update or revise the statements in this

announcement to reflect subsequent events. Readers should not place undue

reliance on the forward-looking statements in this document. The information,

opinions and forward-looking statements contained in this announcement speak

only as at its date, and are subject to change without notice. The Company does

not undertake any obligation to review, update, confirm, or to release publicly

any revisions to any forward-looking statements to reflect events that occur or

circumstances that arise in relation to the content of this announcement.

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.