20 August 2025: The investment and royalty company releases its financial report
for the first half and the second quarter of 2025.

Highlights of the quarter and near-term outlook:

o Hermana Holding ASA ("Hermana", "the Group") received in May a payment of NOK
44.9 million from Magnora ASA settling approximately half of the demerger
receivable established in 2024 tied to licensing rights. This was the first of
two expected payments related to a license agreement with Shell concerning the
Shell Penguins FPSO.

o Hermana is entitled to another payment of USD 4.3 million when the Shell
Penguins FPSO has produced its first 4 million barrels of oil, a milestone
forecasted to be reached in Q4 2025. This represents the remaining demerger
receivable from Magnora ASA concerning the Shell Penguins FPSO.

o Hermana is also entitled to USD 0.50 per barrel produced and offloaded from
the Western Isles FPSO for the lifetime of the vessel, which is currently at
yard awaiting redeployment. Public information indicates that the owners are
considering alternatives due to regulatory uncertainty in the UK, but that the
so-called windfall tax is expected to be determined this fall and may be in an
acceptable range for UK oil and gas operators to prioritise continued and new
investments. 

o The design royalty rights related to the Western Isles FPSO represent an
expected large and long-term revenue for the Group. The FPSO remains a very
versatile asset, as it also can operate in harsh weather environments and can
use electric power sources due to its circular shape.

o The Group had NOK 0.4 million in operating revenue during the second quarter
2025 (NOK 1.3 million in Q2 2024). Operating expenses for the quarter were NOK
1.6 million (NOK 6.6 million in Q2 2024). Annual operating expenses are
forecasted at NOK 7.5-10 million and may be reduced if revenues are delayed or
activity level is low.

o As of 30 June 2025, cash and cash equivalents were NOK 59.8 million (NOK 23.4
million in Q2 2024). Cash generated from operating activities was a positive NOK
0.4 million. Cash generated from investing activities was a positive NOK 44.9
million. There was no new financing during the quarter.

o As of 30 June 2025, the Group had no debt and total assets were NOK 111.9
million (NOK 125.2 million same date last year).

o During the first half of 2025, Hermana established a structured investment
process and evaluated a number of possible investments of which several are of
interest. Hermana maintains continuous contact with banks, other investors,
business owners, and other parties that are sources and discussion partners
regarding opportunities that may meet Hermana's investment criteria. 

About Hermana Holding
Hermana Holding ASA is an investment and royalty company, listed on the main
list of the Oslo Stock Exchange since 2024. The company has revenues from FPSO
design rights previously owned by Sevan Marine ASA and later Magnora ASA.
Hermana has a pragmatic and opportunity-driven approach to the allocation of the
current funds and the royalty revenues.