Kistos Energy (Norway) takes FID for Balder Phase VI

18 Jun 2025 15:37 CEST

18 June 2025 – Kistos Energy (Norway) AS (“KENAS”) notes the announcement made
today by Vår Energi, the operator of the Balder Area, regarding a Final
Investment Decision (“FID”) for Phase VI of the Balder Area development taken by
Vår Energi and the Company.

This announcement comes ahead of the expected imminent first production from the
Balder Future project. Once online, the project is expected to increase the
area’s peak daily production by 80,000 barrels of oil equivalent produced per
day (boepd) (gross), a significant increase on the area's current peak daily
production of circa 30,000 boepd (gross).

- ENDS -

For further information, please contact:

Olav Haugland
Chief Financial Officer (Kistos Energy (Norway) AS)
Phone: +47 915 41 809
Email: olav.haugland@kistosplc.com

James Thomson
Chief Financial Officer (Kistos Holdings plc)
Phone: +44 7495 122576
Email: james.thomson@kistosplc.com

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