North Energy ASA ("North Energy" or "Company") recorded a comprehensive loss of
NOK 21.0 million in the fourth quarter of 2023 compared to a comprehensive loss
of NOK 24.3 million in the same quarter last year. The loss reported this
quarter is mostly driven by decrease in the value of financial investments and
operational expenses, partly offset by income from associated companies. For the
full year 2023 North Energy recorded a comprehensive income of NOK 24.6 million
compared to a comprehensive loss last year of NOK 13.1 million.

At the end of 2023, North Energy's total investment portfolio had a market value
NOK 405.1 million, down from NOK 409.8 million at the end last year. The
portfolio consists of industrial holdings, listed financial investments and
other financial investments. 

Last year the Board of Directors adopted a new dividend policy, which states
that "The Company intends to distribute an annual dividend that approximates 3%
of year end Net Asset Value". In accordance with the policy, the Board intends
to propose a dividend of NOK 0.10 per share for 2023 which is at the same level
as last year.

The report for the fourth quarter 2023 is attached and available on the
Company's website, www.northenergy.no.


DISCLOSURE REGULATION

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


CONTACTS

Rune Damm, CFO, (+47) 4166 6685, rune.damm@northenergy.no