The Board of Directors has resolved to establish an employee share purchase plan (“ESPP”) for employees of Sea1 Offshore Inc (the "Company"). Under the ESPP, employees of Sea1 Offshore will purchase a total of 330 000 shares from the Company. Shares purchased under the ESPP will be subject to a 3-year lock-up obligation. The shares will be purchased at NOK 14.91 per share, which represents a discount to the closing price on 23 May 2025, accounting for the cost associated with the lock-up obligation. The sale and purchase of the shares is conditional upon Sea1 Offshore successfully acquiring 330 000 shares under a share buy-back program, which will be launched today (see separate notice).

Furthermore, the Board of Directors has resolved to sell 70,000 shares to Andreas Kjøl, Chief Commercial Officer of Sea1 Offshore, under the long term incentive plan announced on 14 November 2024. The shares will be sold at a price of NOK 14.91 per share, and the sale is conditional upon completion of the share buy-back program referred to above.