North Energy ASA – Results for the second quarter and first half year 2022

North Energy ASA ("North Energy" or "Company") recorded a comprehensive income of NOK 23.0 million in the second quarter of 2022 compared to a comprehensive loss of NOK 20.8 million in the same quarter last year. The income reported this quarter is mostly driven by income from investments in associated companies.

At the end of the second quarter 2022, North Energy's total investment portfolio had a market value NOK 357.1 million, up from NOK 287.0 million at the end of same quarter last year. The portfolio consists of industrial holdings, listed financial investments and other financial investments.

The report for the second quarter and first half year 2022 is attached and available on the Company's website, www.northenergy.no.