BlueNord Announces Second Quarter and First Half 2025: Increased Contribution from Tyra & Proposing Cash Dividend for the Quarter

Oslo, 10 July 2025: BlueNord ASA ("BlueNord" or the "Company") today publishedits second quarter and First Half 2025 results, highlighting robust baseproduction, continued progress and significant increased contribution from theTyra hub and a strong liquidity position of USD 718 million. In addition,BlueNord is proposing a cash dividend of USD 49 million for Q2 2025, bringingthe total distributions to USD 302 million.

Highlights:

· Net hydrocarbon production of 37.8 mboe/d in Q2 · Revenues of USD 260 million which is up 52% quarter-on-quarter · EBITDA of USD 133 million, 66% higher than previous quarter · Operating Cash Flow of USD 70 million for the quarter · BNOR15 successfully refinanced with USD 300 million BNOR17, removingfutureequity dilution for shareholders · Attractive hedges added during the quarter at favourable prices for 2026and2027, further securing future cashflow from the Company's operationalportfolio · Proposed cash dividend of USD 49 million for Q2 2025

OperationalDan, Gorm and Halfdan continued their stable and reliable productionperformanceand delivered within guidance.  The Tyra ramp-up is progressing well, havingreached a peak production rate of c.28 mboe/d net to BlueNord, and the hub isnow contributing significantly to the Company's financial results. During thequarter, the Tyra Completion Test under the Reserve Based Lending facility wassuccessfully met.  Reservoir performance remains strong, and the focus remainson ensuring stable operations and improving operational efficiency.

FinancialStable production from the base assets continued to support strong financialperformance, while the contribution from the Tyra hub increased significantlyquarter-on-quarter. With the Tyra Completion Test met, the Company paid itsfirst cash distribution to shareholders of USD 203 million on 4 July 2025, andwill launch a share buyback programme of up to USD 50 million early next week.In addition, the Company successfully refinanced the BNOR15 convertible bondwith a new USD 300 million hybrid bond issue, eliminating potential futureequity dilution and enhancing shareholder value.

"The second quarter of 2025 has been pivotal for BlueNord: not only have wemadesignificant progress in delivering the full value of the Tyra hub, we alsodeclared our first distribution and refinanced an instrument to eliminatesignificant potential equity dilution.  As Tyra continues to move towardsoperating at steady-state levels, our production has increased more than 90%quarter-on-quarter and the hub is driving significant increases inprofitabilityand cash flow.  Our strategy remains clear: maximise cash flow from ourproducing asset base and return a substantial portion of that to shareholders.Backed by a robust capital structure, a low-cost production profile, and alonghorizon for further investment, BlueNord continues to be well positioned todeliver sustainable value to all stakeholders," said Euan Shirlaw, ChiefExecutive Officer of BlueNord.

The report and investor presentation may be downloaded from the Company'swebsite www.bluenord.com or www.newsweb.no. The Company will host a webcasttoday at 10:00 CEST. To joinwebcast: https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20250710_2

Contact:Cathrine F. Torgersen, Chief Corporate Affairs OfficerPhone: +47 915 28 501Email: cathrine.torgersen@bluenord.com

This information is considered to be inside information pursuant to the EUMarket Abuse Regulation, and is subject to the disclosure requirementspursuantto section 5-12 of the Norwegian Securities Trading Act. The stock exchangeannouncement was published by Cathrine Torgersen, Chief Corporate AffairsOfficer, BlueNord ASA, at the date and time as set out above.

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About BlueNord ASABlueNord is a strategically important European oil and gas company thatspecialises in producing and developing energy resources, and in activitieswhich support the energy transition. The Company operates in the DanishNorthSeawith a 36.8 percent interest in the Danish Underground Consortium (DUC).BlueNord is listed on the Oslo Stock Exchange and trades under theticker"BNOR".For further information, please visit: www.bluenord.

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