Dno Asa Ord

Good morning and welcome to D&O's third quarter 2025 earnings call. My name is Jostein Löfvås and I'm the communication manager here at D&O. Present with me in Oslo this morning are executive chairman Bijan Mozzavaramani, managing director Chris Spencer and outgoing CFO Håkon Sandborg. At first, Bijan will give an introduction. It will be followed by a presentation of the results. After the presentation, we will open up for questions in our unusual Q&A session. As always, shareholders first, but analysts are also welcome to ask questions. Questions, though, will be dealt with afterwards. If you want to ask a question, please raise the tiny virtual hand on top of your screen. When chosen by the organiser, you will be notified on your screen that you are allowed to unmute. After which, you will have to remember to unmute yourself too. With that, I leave the stage to Bijan.

Thank you and good morning, everyone. It's a pleasure to be back with you in one of these quarterly earnings calls or presentations. And we've had a very strong quarter, and we're going to be very pleased to report on it. And again, as Josai mentioned, answer as best we can any questions that you have. Before I start, I'd like to introduce to you, and Håkon needs no introduction, to many of you who follow the company, He has been the company's chief financial officer for the last 24 years. He is, I think, not the oldest DNO employee, but the one who's been here the longest. And he knows the company's history. He's seen the company through many ups and downs, the number of transformations over the past. I think it's now 53 years, the company, or 54, so as you know, as many of you may know, that DNO has been Norway's oldest oil company, the first to be formed, the first to go on the Oslo Stock Exchange, and through much of that history, all of it, and much of it, Hoffman has been a major player in the company. He's decided to step down from his role, And it's been a privilege for all of us, myself especially, to have worked with him in that role. I've learned a lot from Håkon, learned a lot about the history of the company, and he's been a very valuable colleague to me and a leader to, well, the leaders of DNO throughout the period that I've been here and part of my coming here as well. We are sorry to see him go. We wish him well. He's probably best known outside of DNO as the person who initiated, led our very successful run on bond markets. That's not all he's done here. He's been involved on the stock side as well, the stock markets and shareholders and analysts. of 21 successful bond raises over this period of time. And he mentioned to me that he has raised, through these bond raises over these periods, $5 billion, which is quite a large number for a company of our size. Thank you again, Håkon, for all of us. We wish you well, but I know Håkon wanted to have an opportunity to say goodbye to many of you. worked and stayed in touch, so I give the floor to Håkon to say those works to you directly.

Yeah, thank you, thank you Bijan, thank you for those very kind words. Everything in life, you know, has its time and I think now is a good time for me to retire from DNO after 24 years in the company. It's also at the age of 67, it's also a good time to do something else and go on to new chapters in life is my thinking. And looking back, it's been a great journey in many ways. And I am very proud of all the growth we have achieved and the market value that we have built in the company during these years. And I now wish all my colleagues and all our investors the best of luck and continued success and progress staying with D&O. And I am very happy to hand over to our new CFO Birgitte now taking over after me. And I know she will be doing a very good job. So again, thank you everybody and best of luck.