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Cool Company Ltd. - Formation completed

Cool Company
Cool Company Ltd. ("CoolCo" or the "Company") is pleased to announce today that
it has acquired from Golar Management (Bermuda) Limited the management
organization responsible for the technical and commercial management of its LNG
carriers and the provision of such services to third parties, as contemplated in
the January 2022 Cool Company Ltd. formation update. CoolCo paid the previously
agreed purchase price of $5 million in cash for the shares plus $1.5 million in
working capital. As part of the transaction, approximately 600 maritime and
office-based personnel become employees of CoolCo.

Today, Richard Tyrrell also assumed his position as CEO of CoolCo, replacing
interim CEO Karl Fredrik Staubo.

Richard Tyrrell commented: "CoolCo is delighted to formally welcome the members
of the Golar LNG team that provide first class technical and commercial
management services to our owned fleet of eight LNG carriers, in addition to
providing such services to 20 third party vessels. The acquisition of the
management organization is the last in a series of transactions to establish
CoolCo - a growth oriented LNG carrier company aiming to become the foremost
publicly listed energy shipper."

Contact persons:
Richard Tyrrell, CEO
Email: richard.tyrrell@coolcoltd.com
Phone: +44 2076591111
John Boots, CFO
Email: john.boots@coolcoltd.com
Phone: +44 2076591111

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