BlueNord ASA - Award of Parts of Previously Granted Performance Shares under LTI-program

04 Dec 2023 19:33 CET

Oslo, 4 December 2023: Reference is made to the stock exchange notice of 12 July
2023 regarding grant of performance shares under the Long-Term Incentive Scheme
("LTI") of BlueNord ASA ("BlueNord" or the "Company") as first announced on 19
September 2022.

The first award of performance shares under the LTI program was made on 21
August 2023, and the following members of the Executive Management of the
Company were allocated and had transferred to them the following number of
shares without payment of consideration for the shares by the employees:

· Euan Shirlaw, Chief Executive Officer, was awarded 3,997 shares. Following
this award, Euan Shirlaw owns a total of 3,997 shares in the Company. In
addition, Shirlaw has the right to receive maximum up to 31,292 shares in the
Company under the LTI program and 60,014 retention shares in the Company.
· Marianne Eide, Chief Operating Officer, was awarded 2,454 shares. Following
this award, Marianne Eide owns a total of 4,254 shares in the Company. In
addition, Eide has the right to receive maximum up to 19,627 shares in the
Company under the LTI program and 26,406 retention shares in the Company.
· Jacqueline Lindmark Boye, Chief Financial Officer, was awarded 552 shares.
Following this award, Jacqueline Lindmark Boye owns a total of 552 shares in the
Company. In addition, Boye has the right to receive maximum up to 8,800 shares
in the Company under the LTI program.
· Cathrine F. Torgersen, Chief Corporate Affairs Officer, was awarded 1,982
shares. Following this award, Cathrine Torgersen owns a total of 4,182 shares in
the Company. In addition, Torgersen has the right to receive maximum up to
16,151 shares in the Company under the LTI program and 20,404 retention shares
in the Company.

The number of awarded shares constitutes 25% of the total number of granted
performance shares as announced by the Company on 19 September 2022 to each of
the primary insiders, multiplied with the share price at the time of award,
being NOK 475.50, net of tax.

Future grants and awards of shares made under the LTI-program shall be announced
if and when made.

Please see attached primary insider notification forms in accordance with the
Market Abuse Regulation article 19.

This information is subject to the disclosure requirements pursuant to Section 5
-12 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 operates in the Danish North
Sea with a 36.8 percent interest in the Danish Underground Consortium (DUC).
BlueNord is listed on the Oslo Stock Exchange and trades under the ticker
"BNOR". For further information, please visit: www.bluenord.com.

More information:
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605660_Primary_insider_notification_forms_11715219_1_.pdf