Review of financial reporting - BlueNord ASA

17 Mar 2025 16:35 CET

Finanstilsynet has reviewed certain matters relating to the financial reporting
of BlueNord ASA.

Finanstilsynet observed during its review of the company's annual financial
statements for 2023 that no information regarding climate-related matters was
provided, neither of a general nature nor in relation to specific items. In
Finanstilsynet's opinion there are several indicators which suggest that
BlueNord, in accordance with IAS 1, paragraph 31 and 1.112 c), should have
disclosed that climate-related matters have not had a material impact on the
company's financial position and results, and explained why. As part of its
future financial reporting, BlueNord will include a note in the financial
statements addressing climate-related risks and their potential implications.
Finanstilsynet takes note of this.

During the review, Finanstilsynet also pointed out deficiencies in the
disclosures and sensitivities concerning the expected timing of decommissioning
related to asset retirement obligations, as well as in the company's assessment
of the effects of climate-related goals and transition plans on the company's
financial position, results, and disclosures. Finanstilsynet takes note that the
company will rectify these issues in future financial reports.

With this letter, Finanstilsynet considers the review to be closed.

Finanstilsynet's letter is available in Norwegian only.

If you have any questions, please contact:

Lars Jacob Braarud, Head of section, +47 22 93 97 53 / +47 91 34 52 73 (mobile).

More information:
Access the news on Oslo Bors NewsWeb site

641479_Kontroll av finansiell rapportering - BlueNord ASA.pdf