North Energy ASA – Results for the third quarter 2022

North Energy ASA ("North Energy" or "Company") recorded a comprehensive income of NOK 0.9 million in the third quarter of 2022 compared to a comprehensive income of NOK 47.7 million in the same quarter last year. The income reported this quarter is mostly driven by income from investments in associated companies offset by loss on financial investments and operational expenses.

At the end of the third quarter 2022, North Energy's total investment portfolio had a market value NOK 409.1 million, up from NOK 334.3 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 third quarter 2022 is attached and available on the Company's website, www.northenergy.no.