Moreld AS — Capital/Financing Update 2025

Jan 20, 2025

Moreld AS: Resolution on share capital increase in relation to partial exercise of greenshoe option

Moreld AS: Resolution on share capital increase in relation to partial exercise of greenshoe option

Stavanger, 20 January 2025: Reference is made to the stock exchange announcement made by Moreld AS ("Moreld") on 17 January 2025 regarding the end of the stabilisation period following the private placement of new shares in the Company (the "Private Placement") and the subsequent admission to trading on Euronext Growth Oslo.

During the stabilisation period, Pareto Securities AS (the "Stabilisation Manager") purchased a total of 3,472,977 shares in Moreld as part of the stabilisation activities.

In order for the Stabilisation Manager to permit redelivery of the 7,200,000 shares in Moreld that were borrowed from Allard 2 Limited and Sona Credit Master Fund Limited, Sona Capital Solutions II SCSp, and Sona Blue Peak Limited and over-allotted in the Private Placement, the Stabilisation Manager has in part exercised its option to require Moreld to issue new shares at a price of NOK 13.95 per share, equal to the offer price in the Private Placement (the "Greenshoe Option").

On this basis, the board of directors of Moreld has today resolved to increase Moreld's share capital by NOK 372,702.30, by the issuance of 3,727,023 new shares to the Stabilisation Manager at a price of NOK 13.95 per share, pursuant to the board authorisation granted by the extraordinary general meeting on 12 December 2024. Following registration of the share capital increase with the Norwegian Register of Business Enterprises, the share capital of Moreld will be NOK 17,955,511.90, divided into 179,555,119 shares, each with a par value of NOK 0.10.

The shares borrowed from Allard 2 Limited (a close associate of Julian Mcintyre, chair of the board of Moreld) will be redelivered after the expiry of the current closed period pursuant to the EU Market Abuse Regulation, expected on 14 February 2025.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act and the Euronext Growth Oslo Rule Book Part II.

For more information, please contact:

CEO Geir Austigard

Telephone: +47 992 47 500

Email: Geir.austigard@moreld.com

CFO Trond Rosnes

Telephone: +47 404 14 494

Email: Trond.rosnes@moreld.com

About Moreld

Moreld is an industrial multi-disciplinary engineering group offering full-scope services across the offshore energy and marine industries including subsea installations. The group comprises Moreld Apply, Ocean Installer and Global Maritime. Moreld is a major player on the Norwegian continental shelf with an international footprint. The Group is located in 19 countries, giving access to all major offshore markets, and has over 2,800 employees and contractors. For more information, please visit https://moreld.com/.