Edda Wind AS — Share Issue/Capital Change 2021

Nov 16, 2021

Edda Wind ASA – Applications by primary insiders

Edda Wind ASA – Applications by primary insiders

Reference is made to the announcement by Edda Wind ASA (the “Company” or “Edda Wind”, OSE ticker “EWIND”) on 16 November 2021, regarding the commencement of the bookbuilding and application period in the initial public offering of shares in the Company (the “Offering”).

The following primary insiders of the Company and close associates of primary insiders have today, 16 November 2021, applied for offer shares in the Offering in accordance with the terms and conditions set out in the prospectus dated 15 November 2021 (the “Prospectus”):

* Håvard Framnes (Chair of the Board of Directors), has applied for 21,680 offer shares for a total consideration of NOK 499,995, through his closely associated party Framnes Holding AS, at a price of NOK 23.0625 per share.

* Martha Kold Bakkevig (Board member), has applied for 21,680 offer shares for a total consideration of NOK 499,995, through her closely associated party Kold Invest AS, at a price of NOK 23.0625 per share.

* Toril Eidesvik (Board member), has applied for 21,680 offer shares for a total consideration of NOK 499,995, at a price of NOK 23.0625 per share.

* Jan Eyvin Wang (Board member), has applied for 21,680 offer shares for a total consideration of NOK 499,995, at a price of NOK 23.0625 per share.

* Kenneth Walland (Chief Executive Officer), has applied for 260,162 offer shares for a total consideration of NOK 5,999,986.125, through his closely associated party Kenneth Walland AS, at a price of NOK 23.0625 per share.

* Tom Johan Austrheim (Chief Financial Officer), has applied for 151,761 offer shares for a total consideration of NOK 3,499,988.0625, through his closely associated party Lungo Invest AS, at a price of NOK 23.0625 per share.

* Håkon Vevang (Chief Commercial Officer), has applied for 54,200 offer shares for a total consideration of NOK 1,249,987.50, at a price of NOK 23.0625 per share.

In addition, Adrian Geelmuyden and Cecilie Serck-Hanssen, elected as board members conditional upon, and with effect from, the admission of trading of the Company’s shares on the Oslo Stock Exchange, have today applied for offer shares in the Offering as follows:

* Adrian Geelmuyden has applied for 21,680 offer shares for a total consideration of NOK 499,995, at a price of NOK 23.0625 per share.

* Cecilie Serck-Hanssen has applied for 4,336 offer shares for a total consideration of NOK 99,999, at a price of NOK 23.0625 per share.

As described in the Prospectus, the above-mentioned persons were, pursuant to the Company’s incentive program, able to subscribe for shares in the Offering at a price 25% lower than the offer price of NOK 30.75 in the Offering, against having three years lock-up on such shares. Furthermore, as also stated in the Prospectus, members of the Board of Directors and Management applying for shares through the Offering pursuant to the Company’s incentive program shall receive full allocation for their applications up to a set maximum amount.

In addition, Jan Eyvin Wang has applied for shares in the Offering for a total consideration of NOK 499,995, at a price of NOK 30.75 per share, and the allocation of any such shares will be determined in the final allocation of shares in the Offering. Any allocation of shares to primary insiders in the Offering outside the incentive program will be subject to a 12 month lock-up period.

This information is subject to the disclosure requirements in Article 19 of the Market Abuse Regulation and section 5-12 of the Norwegian Securities Trading Act.

ADVISORS

ABG Sundal Collier ASA and DNB Markets, a part of DNB Bank ASA, are acting jointly as joint global coordinators and joint bookrunners (collectively, the "Joint Global Coordinators"). Clarksons Platou Securities AS is acting as joint bookrunner together with the Joint Global Coordinators (collectively, the "Managers").

Advokatfirmaet BAHR AS is acting as legal advisor to the Company. Advokatfirmaet Wiersholm AS is acting as legal advisor to the Managers.

For further queries, please contact:

Kenneth Walland, CEO Edda Wind

Phone: +47 916 93 418

E-mail: kenneth.walland@eddawind.com

Håvard Framnes, Chair Edda Wind

Phone: +47 993 86 430 E-mail: havard.framnes@ostensjo.no

ABOUT EDDA WIND

Edda Wind is a leading pure play offshore wind service company headquartered in Haugesund, Norway. The Company develops, builds, owns and operates purpose-built Service Operation Vessels (“SOV”) and Commissioning Service Operation Vessels (“CSOV”) for offshore wind farms worldwide. Edda Wind is creating the next generation of offshore wind service vessels and works closely with partners to develop new technologies to reduce emissions without compromising operational capabilities or cost competitiveness. As of today, the Company owns and operates two purpose-built offshore wind SOVs, operates one chartered frontrunner, and has six dedicated offshore wind vessels under construction – two offshore wind SOVs and four offshore wind CSOVs – with delivery from 2022. All newbuild vessels are prepared for zero-emission utilising liquid organic hydrogen carrier as an energy source.