• Nortek, a General Oceans subsidiary, cut its global workforce by approximately 10% in a reorganization to support underwater navigation growth.
• One-time restructuring costs are expected to total approximately NOK 8 million across Q3 and Q4 2026.
• Growing navigation demand is primarily driven by naval defense investment.
• The restructuring lowers Nortek's cost base amid an approximately 10% decline in the average USD/NOK exchange rate.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. General Oceans ASA published the original content used to generate this news brief via NewsWeb, the disclosure sustem operated by Euronext Oslo (Ref. ID: 202611030200OSLOBORSNEWS__EN_FE1D3A69D5939AF712A00A1615FC8FF), on November 03, 2026, and is solely responsible for the information contained therein.