Golden Energy Offshore Services

Earnings Release • Dec 4, 2023

Commercial update November 2023

Commercial update November 2023

Ålesund, Norway, December 4 2023

For November 2023, Golden Energy Offshore Services AS (GEOS) achieved time

charter equivalent earnings of approximately USD 20 800 per day for the 5

vessels in operation in the month. Fleet utilization was 96,7% .

GEOS had in November 2023 five PSVs in the market. Energy Swan is contracted

on term business in the Norwegian continental shelf now firm until 1st March 2024 and 2 months options in Charterers remain , Energy Empress is contracted on term

business in the Caribbean now firm until 24th April 2024 and 6 months options in Charterers favour remain, Energy Paradise is contracted on short term business in the North Sea now firm until 1st January 2024 and 1 month option in Charterers favor and Energy Duchess, and Energy Passion are trading spot/short term with high utilization.

Energy Sugar;

Reference is made to the announcement 27. September 2023 informing about the agreement

for the sale of the SSV to be acquired as part of the transaction announced 4 august 2023.

Following delivery from Vroon Holding B.V. to GEOS on the 27th November 2023, the buyer inspected the vessel and subject was lifted together with completion of delivery to the new buyer on 1 December 2023. The sales price is as set out in the 27 September announcement. The profit will be recorded as a gain in Q4/2023.

The market continues to improve in multiple regions and the Energy Duchess,

Energy Paradise and Energy Passion are well positioned to capitalize on several

attractive business opportunities going forward.

For further information, please contact:

Per Ivar Fagervoll

CEO

Email pif@geoff.no

Phone +47 97428884