Ocean GeoLoop: Annual report and 2025 financial results

Verdal, 21 May 2026) Ocean GeoLoop AS (Ocean GeoLoop, OSE: OCEAN) today
announces 2025 revenues of NOK 204.9 million, compared to NOK 235,7 million in
2024. In 2025, the company continued its carbon capture business development
programme, including work related to energy efficiency, process optimisation and
the e-Loop technology. Subsequent to year-end, the Group has taken significant
steps to reduce costs, preserve value and refocus resource allocation. COOL AS
has been established as a separate business area, focusing on industrial cooling
opportunities. CAPTURED AS' operating activities are being scaled down.

Ocean GeoLoop reported revenues in 2025 of NOK 204.9 million,  a decrease from
NOK 235.7 million from 2024, with Energi Teknikk AS being the primary revenue
contributor. Operating profit (EBIT) was negative NOK 141.6 million, compared to
negative NOK 58.0 million in 2024 Cash and cash equivalents amounted to NOK 20.6
million at year-end. 

During 2025, Ocean GeoLoop  continued to build on the technical achievements
reported in 2024, including the development of its water-based carbon capture
process and related  energy effciency work. The company also worked to establish
strategic relationships with stakeholders across the industry, EPC, operations
and maintenance, logistics, transport, and CO2 storage.  At the same time, the
market environment for carbon capture remained challenging, strongly dependent
on industrial project decisions, public funding, regulatory incentives and
access to capital. 

Throughout the year, the Board and management  evaluated the Company's capital
strategy, including   strategic partnerships, project financing and access to
funding. Given the challenging business environment, in 2026 the Company
sharpened its focus on capital discipline. With strengthened financial
leadership, the Board and management decided not to take the NorFraKalk carbon
capture project forward in its planned form, and to reallocate resources towards
energy regeneration and industrial cooling. 

In light of the scale-down of the carbon capture business, and a challenging
environment for Energi Teknikk which is very much related to the uncertainties
around the resource rent taxation, the Board has taken a prudent approach and
implemented significant write-downs of the Company's financial, tangible, and
intangible assets. 

The annual report 2025 for Ocean GeoLoop is enclosed.

ENDS

For further information, please contact:

Anders Onarheim, Chairman of the Board Ocean GeoLoop AS, phone: +47 97 40 15 11
Viggo Iversen, CEO Ocean GeoLoop AS, phone: +47 474 56 601
Iver Båtvik, CFO Ocean GeoLoop AS, phone +971 585 32 33 17


About Ocean GeoLoop | www.oceangeoloop.com
Ocean GeoLoop AS uses nature's own way to solve the challenges of our time in a
circular way. The group is organized around COOL, which develops
energy-efficient cooling solutions for AI data centers and industrial
applications, and Energi Teknikk AS, a full-service provider of equipment and
services for small hydropower plants. CAPTURED, which developed the GeoLoop
carbon capture technology, is being scaled down. Ocean GeoLoop is listed on
Euronext Growth Oslo under the ticker OCEAN.

This information is considered to include inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 of the Norwegian Securities Trading Act. This stock exchange
announcement was published by Viggo Iversen, CEO, at 21 May 2026, 08:20.
s Trading Act. This stock exchange\
announcement was published by Viggo Iversen\, CEO\, at 21 May 2026\, 08:20.\