Verdal, 16 February 2026) As part of a board-led strategic update, Ocean GeoLoop
AS (Ocean GeoLoop, OSE: OGL) announces the launch of a new business line focused
on standalone, energy-efficient industrial cooling. This addition to the OGL
business is grounded in the continued advancement of a series of inventions by
founder Hans Gude Gudesen, which are now ready for commercialization. More
specifically, this new business line addresses a significant portion of AI
datacenter power demand, where cooling drives up to 40% of total electricity use
with CO2 as a common byproduct. By providing a clean, standalone cooling
solution, OGL continues its mission to tackle climate change through innovative
technology.  

Following several years of focused technology development, industrial piloting
and third-party validation in its carbon capture business, Ocean GeoLoop is
entering a new strategic phase. The coming strategy period will be defined by
commercial execution, disciplined capital allocation and a clear path to revenue
growth. The company's energy efficient carbon capture technology is already a
key competitive differentiator, as industrial customers seek lower total cost of
carbon captured and abated. 

In parallel, founder Hans Gude Gudesen and his team have continued to advance
the e-Loop platform, further strengthening the group's position in
energy-energy-efficient carbon capture. It is through this development that the
cooling application of the e-Loop technology has evolved, creating a competitive
energy efficient position for OGL in carbon capture and cooling.

"Leveraging upon these results, the Board has decided to reorganize Ocean
GeoLoop into a holding structure with two dedicated subsidiaries: one focused on
Carbon Capture and one focused on Industrial Cooling. Together with Energi
Teknikk AS, in which the company is already the main shareholder, this
constitutes an exciting portfolio of companies with great growth potential.
Given short implementation cycles and strong structural demand for
energy-efficient cooling solutions, the Board expects the cooling business to
reach commercial phase in a relatively short time. We look forward to presenting
this in greater detail at our planned Capital Markets Day in March," says Anders
Onarheim, Chairman of the Board of Ocean GeoLoop.

The Board is pleased to announce that Katherine (KC) Littlefield has accepted
the position of Chief Executive Officer of the newly established industrial
cooling subsidiary. Littlefield previously served as General Manager of
Technology and Investment Commercialization for CCUS at Chevron New Energies.

"Industrials, especially datacenters, are challenged to keep pace with growth
while also sourcing firm, clean power for their operation. The eLoop cooling
technology can significantly reduce energy consumption and related emissions.
Our ambition is to lead the shift toward energy efficient-cooling solutions in
partnership with industry leaders. Together, we can accelerate the transition to
more efficient datacenter and industrial energy use," says Littlefield. 

As a result of the reorganization, current Chairman of the Board Anders Onarheim
will assume the role of Interim group CEO. Odd-Geir Lademo will continue to lead
the Carbon Capture subsidiary.

"I am impressed by the speed and discipline with which the company has advanced
its technology in recent years. We are in a solid position for commercial
scaling in global carbon markets. I would like to thank Odd-Geir Lademo and his
team for their dedication in building what I consider a world-leading carbon
capture platform. Lademo will continue to lead the commercialization of our
carbon capture business, including the development and deployment of modular
solutions, as we move into the next phase," Onarheim continues.

"We see a multitude of market opportunities for our now well-proven, unique,
clean and disruptive carbon capture technology. The climate challenge remains,
even as other crises currently dominate the global agenda. We have strengthened
and formalized our international network and will continue to navigate multiple
market opportunities and deliver our solution to the global markets. The
organizational change and our new corporate structure add competences and
capacities to secure the right commercial focus and to broaden our geographical
presence," says Odd-Geir Lademo. 

Ocean GeoLoop will invite investors to a Capital Markets Day Tuesday 3rd March
2026. The event will provide insights into the company's commercial strategy and
financial ambitions for 2026-2028, the next phase of its carbon capture
commercialization roadmap, further details regarding the structure and
leadership of the industrial cooling business, and the group's strategic
priorities for the coming period. The event will include presentations from
founder and inventor Hans Gude Gudesen, Anders Onarheim, KC Littlefield,
Odd-Geir Lademo and Iver Båtvik.

ENDS

For further information, please contact:
- Anders Onarheim, Chairman of the Board Ocean GeoLoop, phone: +47 97 40 15 11
- Odd-Geir Lademo, CEO Ocean GeoLoop, phone: +47 92 05 29 01
 
About Ocean GeoLoop | www.oceangeoloop.com
Ocean GeoLoop AS uses nature's own way to solve the challenges of our time in a
circular way. The company has introduced the GeoLoop CC technology that captures
CO2 from point source emissions using natural and harmless processes. Ocean
GeoLoop will help companies and countries achieve their goals of reduced
emissions and access to renewable electricity for the green transition. The
company is listed on the Oslo Stock Exchange Euronext Growth under the ticker
OCEAN.
Visit Ocean GeoLoop on LinkedIn/OceanGeoLoop.

This information is considered to include 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. This stock exchange
announcement was published by Viggo Iversen, Chief Operating Officer, at 16
February 2026, 08:00.