Oslo, 19 September 2025: Reference is made to the stock exchange announcement made by BlueNord ASA ("BlueNord" or the "Company") on 19 September 2022 regarding the establishment of a one-off retention scheme for the Company's Executive Management (the "Retention Scheme"), whereby the previous existing options issued to members of Executive Management team were cancelled and translated into retention shares that vest in full after three years (the "Retention Shares").

 
The three-year vesting period has ended, and the Retention Shares shall be delivered to the relevant participants free of charge, calculated net after tax. The following members of the current Executive Management team shall be delivered Retention Shares:

• Euan Shirlaw, Chief Executive Officer, shall be delivered 31,553 shares free of charge. Following such delivery, Euan Shirlaw owns a total of 45,114 shares in the Company. In addition, Shirlaw has the right to receive maximum up to 23,229 shares in the Company under the LTI program before tax.
• Cathrine F. Torgersen, Chief Corporate Affairs Officer, shall be delivered 10,522 shares. Following such delivery, Cathrine Torgersen owns a total of 19,507 shares in the Company. In addition, Torgersen has the right to receive maximum up to 10,435 shares in the Company under the LTI program before tax.
   

The Retention Shares shall be delivered from the Company's holding of treasury shares. Following delivery, the Company will hold 931,438 treasury shares.

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 of the Norwegian Securities Trading Act.

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