Seaway 7 ASA

Share Issue/Capital Change • Dec 21, 2020

OHT ASA: NEW SHARE CAPITAL REGISTERED

OHT ASA: NEW SHARE CAPITAL REGISTERED

Reference is made to the stock exchange announcement on 3 December 2020 regarding the resolution to increase the share capital of OHT ASA ("OHT" or the "Company") by NOK 138,948.70, from NOK 12,084,803.40 to NOK 12,223,752.10 through the issuance of 1,389,487 new shares, each with a nominal value of NOK 0.10.

The share capital increase relating to the 347,372 new shares subscribed for by the Company's CEO, Torgeir E. Ramstad, has today, 21 December 2020, been registered with the Norwegian Register of Business Enterprises. Following such registration, the new share capital of the Company is NOK 12,223,752.10, divided into 122,237,521 shares, each with a nominal value of NOK 0.10.

Following the issuance of the new shares, Torgeir E. Ramstad holds 397,372 shares in the Company, corresponding to approximately 0.33% of the total shares and votes in the Company.

For further information, please contact:

Torgeir E. Ramstad, Chief Executive Officer

Phone: +47 915 98 690

Email: tr@oht.no

Tom E. Jebsen, Chief Financial Officer

Phone: +47 907 47 997

Email: tj@blystad.no

About OHT ASA | www.oht.no

OHT is a Norwegian based supplier of special heavy transportation services to the ship transportation/cargo industry, the oil service industry and the offshore wind industry, such as drilling rigs, offshore modules and offshore windfarm foundations. Through its wholly-owned subsidiaries, the group owns five HTVs and will take delivery of a custom-built semi submersible offshore wind foundation installation vessel at the end of 2021 and an offshore wind turbine installation vessel in 2023.