SANDNES, Norway 11 December 2023 - Horisont Energi (EURONEXT: HRGI) has signed a
Sales and Purchase Agreement (SPA) where PGNiG Upstream Norway AS (PUN) acquires
a 50% participating interest in the CO2 exploration licence EXL003 Polaris - so
that both companies will hold 50% each. The licence group has at the same time
applied for PUN to be appointed operator.

The effective date of the SPA is 1 December, whereas the completion date will be
no later than 31 December 2023. The SPA is subject to approval by Norwegian
authorities.

-	"The Polaris project has the potential to contribute to emission reductions at
an industrial scale and is representative of the rapid development of the CCS
industry in Norway and Europe. Polaris will also play an integral role in the
Barents Blue clean ammonia project," says Bjørgulf Haukelidsæter Eidesen, CEO of
Horisont Energi 

The licence group has also submitted an application to the Norwegian authorities
for PUN to become the new operator in the licence. 
 
-	"We are embarking on another project aimed at fortifying ORLEN's standing as a
regional leader in the energy transition. CO2 capture and storage will play a
pivotal role in delivering the Group's climate policy, also enabling us to
introduce a new carbon management service. With soaring CO2 allowance prices,
carbon storage becomes crucial for sustaining the competitiveness of certain
industries in Poland and other EU countries. The growing interest in carbon
storage services underscores the significance of today's transaction, granting
the ORLEN Group an interest in the Polaris licence in the Barents Sea,
designated for carbon dioxide injection. The project will enhance our
capabilities and know-how in offshore CO2 storage, a valuable asset that can
also be leveraged in Poland," said Daniel Obajtek, ORLEN CEO and President of
the Management Board.

The application for the Polaris exploration licence EXL003 was submitted in
2021, and formally awarded on June 10, 2022.


For more information: 
Bjørgulf Haukelidsæter Eidesen, CEO 
+47 990 36 892 
bhe@horisontenergi.com 

Leiv Kallestad, CFO
+ 47 958 95 661
Leiv.kallestad@horisontenergi.com 

Siri Melberg, Head of branding & communication
+47 470 35 718
sm@horisontenergi.com

About Horisont Energi:
Horisont Energi (EURONEXT: HRGI) is a Norwegian clean energy company that
provides clean energy and carbon transport and storage services. The company
will transform gas, water and renewable energy into cost-leading clean ammonia
and hydrogen and offer CO2 transportation and storage services using proprietary
technology, paving the way for a low carbon economy. The company was founded in
2019 and is headquartered in Sandnes, Norway. www.horisontenergi.no

You can follow us on: 
https://twitter.com/horisontenergi
https://www.linkedin.com/company/horisontenergi/

About PGNiG Upstream Norway (PUN) and ORLEN 
PGNiG Upstream Norway ranks among the top 10 oil & gas companies operating on
the Norwegian Continental in terms of reserves and output. Its natural gas
production plays a vital role in securing the energy needs of Poland. PGNiG
Upstream Norway is part of the ORLEN Group, the largest energy company in
Central and Eastern Europe, whose operations span the power generation,
refining, petrochemical and retail sectors, among others. Its products are
available in 90 markets, reaching 100 million customers. ORLEN was the region's
first major energy company to announce a target to achieve carbon neutrality by
2050. By 2030, it will spend PLN 120 billion (almost USD 30 billion) on green
investments including offshore and onshore wind farms, photovoltaics, CCS,
biofuel, and green hydrogen production. https://www.orlen.pl/pl
https://norway.pgnig.pl/