Interim Report - Second Quarter 2025

NORDEN reports net profit of USD 52 million (DKK 342 million) in Q2 2025

NORDEN CEO, Jan Rindbo, comments:
“In Q2 2025, NORDEN generated a net profit of USD 52 million and a ROIC of 10%, driven by profitable
contract cover and sales gains in weaker spot markets. Having year-to-date sold 20 vessels and added 18
vessels through new leasing agreements with purchase options, we are realising significant asset values
while optimising our fleet portfolio with the most fuel-efficient vessels available in the market today.”

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Contact Investor Relations

Therese Möllevinge, Head of Investor Relations
Tel.: +45 41 37 16 38
E-mail: thm@norden.com