BlueNord: Invitation Received to Explore an Extension of the DUC License

22 Feb 2026 15:34 CET

Oslo, 21 February 2026: Reference is made to today's announcement by the Danish
Ministry of Climate, Energy and Utilities, in which BlueNord ASA ("BlueNord" or
the "Company") and its partners in the Danish Underground Consortium (the "DUC")
are invited to explore an extension of the DUC license beyond its current 2042
expiry.

BlueNord has maintained a constructive dialogue with the Danish government,
expressing interest in extending the current license to 2050, in accordance with
the 2020 North Sea Agreement, and the Company welcomes today's announcement.

A license extension would be fully aligned with BlueNord's long-standing
objectives: maximising value from the DUC, supporting the future energy needs of
Denmark and Europe, and continuing to make a meaningful contribution to Danish
society.

"We welcome today's announcement and look forward to continuing our dialogue
with the Danish government on how BlueNord, together with our partners in the
DUC, can continue to deliver vital oil and gas volumes to Denmark and the EU
beyond the current DUC license expiry in 2042. Our objective remains to maximise
the value from the DUC - not only for our shareholders, but for Danish society
and the broader European energy market. An extension to 2050 would provide a
tangible contribution to reducing Europe's dependence on imported energy and
strengthening security of supply. Danish North Sea production carries real
strategic importance: it comes with a lower CO? footprint than imported LNG,
contributes meaningfully to the Danish economy through state revenues and
employment, and plays a direct role in safeguarding EU energy security," said
Euan Shirlaw, Chief Executive Officer in BlueNord ASA.

Press release from the Danish Ministry of Climate, Energy and Utilities can be
read here: https://www.kefm.dk/aktuelt/nyheder/2026/feb/regeringen-vil-styrke
-europas-forsyningssikkerhed

BlueNord will announce its fourth quarter 2025 results on 24 February 2026.

This information is subject to disclosure requirements pursuant to section 5-12
of the Norwegian Securities Trading Act.

***

Contact:
Cathrine Torgersen, Chief Corporate Affairs Officer
Phone: +47 915 28 501
Email: cathrine.torgersen@bluenord.com

About BlueNord ASA
BlueNord is a strategically important European oil and gas company that
specialises in producing and developing energy resources, and in activities
which support the energy transition. The Company has a 36.8 percent interest in
the Danish Underground Consortium (DUC) that is responsible for oil and gas
production in the Danish North Sea. BlueNord is listed on the Oslo Stock
Exchange and trades under the ticker "BNOR". For further information, please
visit: www.bluenord.com.

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