Preliminary assessment of COOL test data

(Verdal, 7 September 2026) Ocean GeoLoop ASA (Ocean GeoLoop, OSE:OCEAN) has during the summer executed a comprehensive test program together with SINTEF for the OGL subsidiary COOL’s cooling technology. In relation to this, SINTEF is preparing a report which is expected to be completed during September.

Reference is made to the company’s announcement of 25 June 2026 where the company informed that it had initiated testing of the COOL technology, developed by the company founder, Hans Gude Gudesen.

The abstract in the preliminary report states:

"As an element of the Ocean Geoloop cooling technology, an experimental loop has been built and operated at the SINTEF Multiphase Flow Laboratory.

A model for the loop has been developed and compared to experimental data from the experimental campaign. The model and data are consistent, and the experimental loop operates as intended. The current report contains a theoretical assessment of the experimental campaign during the summer 2026 and a verification of the test results against simulated results".

The cooling technology aims at achieving full cooling of industrial processes using only the customer’s own waste heat. This will potentially reduce the power consumption of e.g. AI data centres substantially in the future.

ENDS

For further information, please contact: Kristian G. Lundkvist, Chair of the Board, COOL AS and Ocean GeoLoop ASA, cell: +47 977 77 177 Ole Magnus Svarva, Chief Technology Officer, COOL AS, cell: +47 952 04 007

About Ocean GeoLoop | www.oceangeoloop.no Ocean GeoLoop ASA uses nature’s own way to solve the challenges of our time in a circular way. The Group is organised around COOL, which develops energy-efficient cooling solutions for AI data centres 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.