Jostein Løvås
Communication Manager

Good morning, and welcome to DNO's First Quarter 2026 Earnings Call. My name is Jostein Lovas, and I am the Communications Manager here at DNO. Present with me here today in Oslo are, as usual, Executive Chairman, Bijan Mossavar-Rahmani; Managing Director, Chris Spencer; and CFO, Birgitte Wendelbo Johansen. In addition, we have a surprise guest, Morten Grini, who is Senior Vice President, responsible for Assets and Project Development in the North Sea business unit. And Morten Grini will wrap up the presentation with a North Sea deep dive. After the presentation, we will open up for questions in the Q&A session and press questions will be dealt with afterwards.

With that, I give the word to Bijan, please.

Bijan Mossavar-Rahmani
Executive Chairman

Good morning, and welcome to our first quarter 2026 results and operational updates, again, with a focus on the North Sea. This is a beautiful spring sunny day in Oslo, clear blue skies. You won't have a chance to see it because we're in an indoor room. My colleagues typically put me in an indoor room away from a window and away from the seagulls that fly over Oslofjord. Those of you in Norway, some of you may understand the reference. But trust me, it's a beautiful day, and our results are similarly sunny and blue skies for the first quarter, and this has continued into the first part of the second quarter.

Much of this has to do with higher oil and gas