Regulatory press release

GEOS: Acquisition by Blue Ocean of 39% stake in Golden Energy Offshore Services from Oaktree completed

Ålesund 16.05.2024

Reference is made to the stock exchange notices dated 23 April 2024 regarding
that Blue Ocean GEOS MI LLC ("Blue Ocean") had entered into a binding share
purchase agreement to acquire 195,796,161 shares in Golden Energy Offshore
Services AS ("GEOS") from funds managed by Oaktree Capital Management, L.P. for
a total consideration of USD 39,500,000.

The transaction was completed today and Blue Ocean has accordingly become the
owner of 195,796,161 shares in GEOS, representing approximately 39.03% of the
issued share capital in GEOS.