Oslo, 10 July 2025: BlueNord ASA ("BlueNord" or the "Company") today published
its second quarter and First Half 2025 results, highlighting robust base
production, continued progress and significant increased contribution from the
Tyra 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, bringing
the 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, removing future
equity dilution for shareholders
  · Attractive hedges added during the quarter at favourable prices for 2026 and
2027, further securing future cashflow from the Company's operational portfolio
  · Proposed cash dividend of USD 49 million for Q2 2025

Operational
Dan, Gorm and Halfdan continued their stable and reliable production performance
and delivered within guidance.  The Tyra ramp-up is progressing well, having
reached a peak production rate of c.28 mboe/d net to BlueNord, and the hub is
now contributing significantly to the Company's financial results. During the
quarter, the Tyra Completion Test under the Reserve Based Lending facility was
successfully met.  Reservoir performance remains strong, and the focus remains
on ensuring stable operations and improving operational efficiency.

Financial
Stable production from the base assets continued to support strong financial
performance, while the contribution from the Tyra hub increased significantly
quarter-on-quarter. With the Tyra Completion Test met, the Company paid its
first cash distribution to shareholders of USD 203 million on 4 July 2025, and
will launch a share buyback programme of up to USD 50 million early next week.
In addition, the Company successfully refinanced the BNOR15 convertible bond
with a new USD 300 million hybrid bond issue, eliminating potential future
equity dilution and enhancing shareholder value.

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

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

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

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation, and is subject to the disclosure requirements pursuant
to section 5-12 of the Norwegian Securities Trading Act. The stock exchange
announcement was published by Cathrine Torgersen, Chief Corporate Affairs
Officer, BlueNord ASA, at the date and time as set out above.

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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 operates in the Danish NorthSea
with a 36.8 percent interest in the Danish Underground Consortium (DUC).
BlueNord is listed on the Oslo Stock Exchange and trades under the ticker"BNOR".
For further information, please visit: www.bluenord.