Seaway 7 ASA

Share Issue/Capital Change • Oct 4, 2021

OHT ASA: NEW SHARES AND NEW NAME REGISTERED

OHT ASA: NEW SHARES AND NEW NAME REGISTERED

Reference is made to the stock exchange announcements made on 30 September 2021 and 1 October 2021, regarding the resolution to increase the share capital of Seaway 7 ASA (ex OHT ASA) (the "Company") with NOK 31,432,505.40 through issuance of 314,325,054 new shares in a private placement directed against Subsea 7 Blue Space Limited.

The share capital increase related to the issuance of these shares has now been registered with the Norwegian Register of Business Enterprises (Nw. Foretaksregisteret). Following such registration, the new share capital of the Company is NOK 43,656,257.50 divided into 436,562,575 shares, each with a nominal value of NOK 0.10.

Please also note that as from opening of trading hours tomorrow on 5 October 2021, the Company will be traded with updated company information as follows at the Euronext Growth:

Company name: Seaway 7 ASA

Company ticker: SEAW7

Shares outstanding: 436,562,575

For further information, please contact:

Mark Hodgkinson, Chief Financial Officer

Tel: +44 (0) 7788 316 501

E-mail: ir@oht.no