(Bergen, 7 May 2026): Bergen Carbon Solutions AS (BCS, OSE:BCS) 

Bergen Carbon Solutions AS (BCS), the pure-play carbon capture and utilization
(CCU) company, today provides an operational update and financial results for
the first quarter of 2026.

Throughout the quarter, the company enhanced its process platform, increased
testing capacity, and began external validation of its CCU-based conductive
carbon materials designed for batteries.

In Q1 2026, the company further improved process understanding and operational
stability and continued to optimise key parameters to support more consistent
material quality and gradually higher test volumes. 

Samples of carbon materials were distributed to selected industrial partners and
research environments to build a broader dataset and verify performance in
relevant battery systems. 

Internal testing continued across multiple chemistries, including LFP (lithium
iron phosphate) and Li-S (lithium-sulphur). Third-party academic partners have
reproduced BCS' positive results in Li-S coin cells.

The company commissioned a second electrolysis scale cell, doubling test
capacity and material yield to enable faster iteration, larger sample volumes,
and better reproducibility documentation.

The Company operates efficiently with a lean structure and targeted initiatives,
and during the quarter received NOK 10.3 million in grants from Innovation
Norway. This contributes to enhanced financial flexibility.

"The first quarter confirms that we are executing according to plan. We have
established a stable and repeatable process platform, increased our test
capacity and taken an important step by initiating external testing together
with selected partners. This is key to documenting performance in industrial
battery systems and progressing towards industrialisation," says Odd Strømsnes,
CEO of Bergen Carbon Solutions.

Presentation:
The company will host an operational live update presentation today at 08:00.
You are welcome to join the presentation online. A recording of the presentation
will be available on our website after the session.

Presentation details:
- Date: Thursday 7th of May 2026 at 08:00 a.m. (CEST) 
- Language: English
- Q&A: may be submitted in advance to [email protected]
or live during the session.

Link to webcast:
https://teams.microsoft.com/l/meetup-join/19%3ameeting_OTc1NTAyNzctMmEwOS00Y2E2L
WI1ZGEtMTMxMzdkMjMwNzZm%40thread.v2/0?context=%7B%22Tid%22%3A%22f0ee7061-9c20-48
8c-9a91-03d921b62ad7%22%2C%22Oid%22%3A%223a948f76-463c-48bb-affe-872e52f97509%22
%2C%22IsBroadcastMeeting%22%3Atrue%2C%22role%22%3A%22a%22%7D&btype=a&role=a

The presentation and financial report for Q1 2026 are enclosed.

END

For further information please contact:
Odd Strømsnes, CEO, [email protected], +47 480 88 571
Karina Brudeseth, CFO, [email protected], +47 413 43 38

About Bergen Carbon Solutions:
Bergen Carbon Solutions is a technology company in the field of carbon
utilisation. The company is working to make CO2 a valuable resource, using
energy to turn the excessive greenhouse gas into solid carbon. With its
groundbreaking, proven process for carbon capture and utilization (CCU), Bergen
Carbon Solutions is enabling clean carbon for the battery industry. The
technology may provide stable delivery of carbon nanotubes and graphite, helping
manufacturers to be less exposed to the raw material risks of geopolitical
rivalry. Established in 2016, based in Norway and listed on Euronext Growth,
Bergen Carbon Solutions is targeting the fast-growing battery industry globally,
and other carbon intensive industries looking to replace conventional,
fossil-based solutions to stay relevant in their markets. 
Follow us on https://www.linkedin.com/company/berge-carbon-solutions-as/
Bergen Carbon Solutions | www.bergencarbonsolutions.com