ADS Maritime Holding

Share Issue/Capital Change • Oct 19, 2022

ADS Maritime Holding Plc: Result of Subsequent Offering

ADS Maritime Holding Plc: Result of Subsequent Offering

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE'S REPUBLIC OF CHINA, SOUTH AFRICA, NEW ZEALAND, JAPAN, THE UNITED STATES, THE UNITED KINGDOM OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

Reference is made to the stock exchange announcement by ADS Maritime Holding Plc (the "Company") published on 18 October 2022 regarding the expiry of the application period (the "Application Period") for the subsequent offering (the "Subsequent Offering") of up to up to 34,190,476 existing ordinary shares in the Company (the "Offer Shares") at a price of NOK 2.10 per Offer Share.

The Application Period for the Subsequent Offering expired on 18 October 2022 at 16:30 (CEST). By the end of the Application Period, the Company had received valid applications for a total of 202,209 Offer Shares. A total of 202,209 Offer Shares have been allocated by the Company's board of directors in accordance with the allocation criteria set out in the Company's prospectus dated, 3 October 2022.

Notification of allocated Offer Shares in the Subsequent Offering and the corresponding amount to be paid by each applicant is set out in a separate notification letter to each applicant to whom Offer Shares have been allotted. The due date for payment of allocated Offer Shares is 24 October 2022.

Subject to timely payment, the Offer Shares will be delivered to the VPS accounts of the Applicants to whom they have been allocated on or about 26 October 2022.

Please refer to the attached template regarding the disclosure of B T Larsen & Co Ltd. pursuant to section 19 of the Market Abuse Regulation.

Arctic Securities AS act as the manager and the receiving agent in the Subsequent Offering.

For further information, please contact:

Terje Bodin Larsen, CEO

+47 905 35 543

tbl@ads.no

Dagfinn Andersen, CFO

+47 922 91 001

dagfinn.andersen@ads.no

About ADS Maritime Holding Plc

ADS Maritime Holding Plc is a public limited company listed on the Euronext Growth at the Oslo Stock Exchange (ticker ADS). The Company is incorporated and domiciled in Cyprus and has Norwegian subsidiaries based in Arendal, Norway. For more information, visit www.adsmh.com

Important information

The release is not for publication or distribution, in whole or in part directly or indirectly, in or into Australia, Canada, Japan Hong or any other jurisdiction in which such release, publication or distribution would be unlawfull. This release is an announcement issued pursuant to legal information obligations and is subject to the disclosure requirements of section 5-12 of the Norwegian Securities Trading Act. It is issued for information purposes only and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United States or in any other jurisdiction. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "US Securities Act"). The securities may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the US Securities Act. The Company does not intend to register any portion of any offering of the securities in the United States or to conduct a public offering of the securities in the United States. Copies of this announcement are not being made and may not be distributed or sent into Australia, Canada, Japan or the United States.

The issue, subscription or purchase of shares in the Company is subject to specific legal or regulatory restrictions in certain jurisdictions. Neither the Company nor the Manager assume any responsibility in the event there is a violation by any person of such restrictions. The distribution of this release may in certain jurisdictions be restricted by law. Persons into whose possession this release comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

The Manager is acting for the Company and no one else in connection with the Private Placement in the Company, and will not be responsible to anyone other than the Company providing the protections afforded to its clients or for providing advice in relation to the Private Placement and/or any other matter referred to in this release.

Forward-looking statements: This release and any materials distributed in connection with this release may contain certain forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they reflect the Company's current expectations and assumptions as to future events and circumstances that may not prove accurate. A number of material factors could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.