BlueNord ASA – Award of Performance Shares under LTI-Program

Oslo, 11 August 2024: Reference is made to the stock exchange notices of 12 July 2023 and 4 December 2024 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 second award of performance shares under the LTI program has been made today, and the Company’s board of directors has resolved to issue a total of 14,444 new shares in the Company to be delivered to the participants in the LTI program, at a subscription price of the nominal value of NOK 0,5398295 per share, pursuant to the authorization to the board to issue new shares as granted by the Company's annual general meeting on 14 May 2024.

The following members of the Executive Management of the Company have today been allocated the following number of shares under the LTI program:

• Euan Shirlaw, Chief Executive Officer, was awarded 3,099 shares. Following this award, Euan Shirlaw owns a total of 7,096 shares in the Company. In addition, Shirlaw has the right to receive maximum up to 15,096 shares in the Company under the LTI program and 60,014 retention shares in the Company.
• Jacqueline Lindmark Boye, Chief Financial Officer, was awarded 403 shares. Following this award, Jacqueline Lindmark Boye owns a total of 955 shares in the Company. In addition, Boye has the right to receive maximum up to 2,147 shares in the Company under the LTI program.
• Miriam Lykke, Chief Operating Officer, was awarded 609 shares. Following this award, Miriam Lykke owns a total of 1,017 shares in the Company. In addition, Lykke has the right to receive maximum up to 3,383 shares in the Company under the LTI program.
• Cathrine Torgersen, Chief Corporate Affairs Officer, was awarded 1,533 shares. Following this award, Cathrine Torgersen owns a total of 5,715 shares in the Company. In addition, Torgersen has the right to receive maximum up to 7,781 shares in the Company under the LTI program and 20,404 retention shares in the Company.

The number of vested shares applicable for the award 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. The award is adjusted for the KPI performance applicable for the 2022 LTI program and the shares are awarded net of tax based on the share price of NOK 499.50 at the time of award.

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.

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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.