BlueNord Announces Second Quarter and First Half 2025: Increased Contribution from Tyra & Proposing Cash Dividend for the Quarter

Operational Dan, Gorm and Halfdan continued their stable and reliable production performance and delivered within guidance.  The Tyra ramp-up is progressing well, having reached a peak production rate of c.28 mboe/d net to BlueNord, and the hub is now contributing significantly to the Company's financial results. During the quarter, the Tyra Completion Test under the Reserve Based Lending facility was successfully met.  Reservoir performance remains strong, and the focus remains on ensuring stable operations and improving operational efficiency.

OSLO, Norway, 10/07/2025 (informazione.news - comunicati stampa - servizi)

Dan, Gorm and Halfdan continued their stable and reliable production performance and delivered within guidance.  The Tyra ramp-up is progressing well, having reached a peak production rate of c.28 mboe/d net to BlueNord, and the hub is now contributing significantly to the Company's financial results. During the quarter, the Tyra Completion Test under the Reserve Based Lending facility was successfully met.  Reservoir performance remains strong, and the focus remains on ensuring stable operations and improving operational efficiency.

Stable production from the base assets continued to support strong financial performance, while the contribution from the Tyra hub increased significantly quarter-on-quarter. With the Tyra Completion Test met, the Company paid its first cash distribution to shareholders of USD 203 million on 4 July 2025 , and will launch a share buyback programme of up to USD 50 million early next week. In addition, the Company successfully refinanced the BNOR15 convertible bond with a new USD 300 million hybrid bond issue, eliminating potential future equity dilution and enhancing shareholder value.  

 said Euan Shirlaw , Chief Executive Officer of BlueNord. 

The report and investor presentation may be downloaded from the Company's website www.bluenord.com or www.newsweb.no. The Company will host a webcast today at 10:00 CEST. To join webcast: https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20250710_2

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

This information is considered to be 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. The stock exchange announcement was published by Cathrine Torgersen , Chief Corporate Affairs Officer, BlueNord ASA, at the date and time as set out above. 

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