Golden Energy Offshore Services

Share Issue/Capital Change • Nov 7, 2023

Final result of Subsequent Offering

Final result of Subsequent Offering

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.

Ålesund, 7 November 2023

Reference is made to stock exchange announcement published by Golden Energy Offshore Services AS (the “Company”) on 19 October 2023 regarding the launch of a subsequent offering (the “Subsequent Offering”) of up to 70,000,000 new shares in the Company (the “Offer Shares”), at a subscription price of NOK 1.00 per share.

The subscription period for the Subsequent Offering ended on 6 November 2023 at 16:30 (CET). By the end of the subscription period, the Company had received valid subscriptions for 27,068,449 Offer Shares in the Subsequent Offering. Hence, the Company will, subject to timely payment, issue 27,068,449 Offer Shares at NOK 1.00 per share, raising gross proceeds of NOK 27,068,449.

Investors that are allocated Offer Shares can access information on the number of Offer Shares allocated through VPS. The due date for payment of the Offer Shares is on 9 November 2023.

Subject to duly and timely payment of the Offer Shares, the share capital increase is expected to be registered in the Norwegian Register of Business Enterprises (the “NRBE”) on or about 13 November 2023 and will be delivered to the VPS accounts of the subscribers shortly thereafter. A separate announcement will be made when the share capital increase has been registered in the NRBE.

Arctic Securities AS, Fearnley Securities AS and Pareto Securities AS are acting as managers in the Subsequent Offering. Advokatfirmaet BAHR AS is acting as legal advisor to the Company.

For further information, please contact:

Per Ivar Fagervoll

pif@geoff.no

Mobile: + 47 974 28 884

***

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

This announcement is not and does not form a part of any offer for sale of any securities, and is not for release, publication or distribution, directly or indirectly, in the United States, or any other jurisdiction in which such distribution would be unlawful or would require registration or other measures. Securities may not be sold in the United States absent registration with the United States Securities and Exchange Commission or an exemption from registration under the U.S. Securities Act of 1933, as amended. The Company does not intend to register its securities in the United States.

The distribution of this announcement into jurisdictions other than Norway may be restricted by law. Persons into whose possession this announcement 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. This announcement has not been approved by any regulatory authority.