Key information related to the Subsequent Offering

02 Mar 2023 23:08 CET

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, JAPAN, HONG KONG, SOUTH AFRICA OR THE
UNITED STATES, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR
DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER
OF ANY OF THE SECURITIES DESCRIBED HEREIN.

Haugesund, 2 March 2023: Reference is made to the stock exchange announcement by
Edda Wind ASA (“Edda Wind” or the "Company") on 2 March 2023 regarding a
successfully placed private placement of new shares in the Company (the "Private
Placement").

The Board of Directors has resolved to propose to the Company's extraordinary
general meeting that the Company conducts a subsequent offering (the "Subsequent
Offering") with gross proceeds of up to NOK 50,000,000 by issuing up to
2,000,000 new shares at NOK 25 per share, equal to the subscription price in the
Private Placement.

The Subsequent Offering will, on the basis of a prospectus approved by the
Norwegian Financial Supervisory Authority (the "Prospectus"), be directed
towards eligible shareholders in the Company who are shareholders in the Company
as of 2 March 2023, as registered in the Company's register of shareholders with
Euronext Securities Oslo, the central securities depositary in Norway (Nw.
Verdipapirsentralen) (the "VPS") on 6 March 2023, and who (i) are not allocated
new shares in the Private Placement, and (iii) are not resident in a
jurisdiction where such offering would be unlawful or, for jurisdictions other
than Norway, would require any prospectus, filing, registration or similar
action. Such shareholders will be granted non-tradable allocation rights to
subscribe for, and, upon subscription, be allocated new shares.

In accordance with the continuing obligations for companies listed on the Oslo
Stock Exchange, the following key information is given with respect to the
Subsequent Offering:
• Date on which the terms and conditions for the subsequent offering were
announced: 2 March 2023
• Last day of trading in the Company’s shares including subscription right: 2
March 2023
• Ex. date: 3 March 2023
• Record date: 6 March 2023
• Date of approval: 24 March 2023 ("EGM")
• Maximum number of new shares to be issued: 2,000,000
• Subscription price: NOK 25 per share

The Subsequent Offering is subject to certain terms and conditions, including
completion of the Private Placement, approval by the EGM and approval of the
Prospectus. It is expected that the subscription period for the Subsequent
Offering will commence primo April 2023.

See announcement by the Company on 2 March 2023 for further information. The
Company's board of directors may, in its sole discretion, decide that the
Company shall not carry out the Subsequent Offering if the prevailing market
price of the Company's shares is lower than the subscription price in the
Subsequent Offering.

ABG Sundal Collier ASA, Arctic Securities AS, DNB Markets, a part of DNB Bank
ASA, Fearnley Securities AS and Pareto Securities AS (together, the “Managers”)
acted as Joint Bookrunners in the Private Placement. Advokatfirmaet BAHR AS is
acting as legal advisor to the Company in connection with the Private Placement
and Subsequent Offering, and Advokatfirmaet Wiersholm AS is acting as legal
advisor to the Managers.

This information is published in accordance with the requirements of the Oslo
Stock Exchange Continuing Obligations.

For further information, please contact:
Kenneth Walland, CEO Edda Wind
Phone: +47 916 93 418
E-mail: kenneth.walland@eddawind.com

Tom Johan Austrheim, CFO Edda Wind
Phone: +47 982 09 873
E-mail: tom.johan.austrheim@eddawind.com

ABOUT EDDA WIND

Edda Wind is a leading pure play offshore wind service company headquartered in
Haugesund, Norway. The Company develops, builds, owns and operates purpose-built
Service Operation Vessels (“SOV”) and Commissioning Service Operation Vessels
(“CSOV”) for offshore wind farms worldwide.

Edda Wind is creating the next generation of offshore wind service vessels and
works closely with partners to develop new technologies to reduce emissions
without compromising operational capabilities or cost competitiveness.

As of today, the Company owns and operates two purpose-built offshore wind SOVs,
operates one chartered frontrunner, and has eight dedicated offshore wind
vessels under construction prior to the newbuilds as recently announced. All
newbuild vessels are prepared for zero-emission utilising liquid organic
hydrogen carrier as an energy source.

Read more: www.eddawind.com

IMPORTANT NOTICE

This announcement is not and does not form a part of any offer to sell, or a
solicitation of an offer to purchase, any securities of Edda Wind ASA. The
distribution of this announcement and other information may be restricted by law
in certain jurisdictions. Copies of this announcement are not being made and may
not be distributed or sent into any jurisdiction in which such distribution
would be unlawful or would require registration or other measures. Persons into
whose possession this announcement or such other information should come are
required to inform themselves about and to observe any such restrictions.

The securities referred to in this announcement have not been and will not be
registered under the U.S. Securities Act of 1933, as amended (the "Securities
Act"), and accordingly may not be offered or sold in the United States absent
registration or an applicable exemption from the registration requirements of
the Securities Act and in accordance with applicable U.S. state securities laws.
The Company does not intend to register any part of the offering or their
securities in the United States or to conduct a public offering of securities in
the United States. Any sale in the United States of the securities mentioned in
this announcement will be made solely to "qualified institutional buyers" as
defined in Rule 144A under the Securities Act and "major U.S. institutional
investors" as defined in SEC Rule 15a-6 under the United States Exchange Act of
1934.

In any EEA Member State, this communication is only addressed to and is only
directed at qualified investors in that Member State within the meaning of the
Prospectus Regulation, i.e., only to investors who can receive the offer without
an approved prospectus in such EEA Member State. The expression "Prospectus
Regulation" means Regulation 2017/1129, as amended, together with any applicable
implementing measures in any Member State.
This communication is only being distributed to and is only directed at persons
in the United Kingdom that are (i) investment professionals falling within
Article 19(5) of the Financial Services and Markets Act 2000 (Financial
Promotion) Order 2005, as amended (the "Order") or (ii) high net worth entities,
and other persons to whom this announcement may lawfully be communicated,
falling within Article 49(2)(a) to (d) of the Order (all such persons together
being referred to as "relevant persons"). This communication must not be acted
on or relied on by persons who are not relevant persons. Any investment or
investment activity to which this communication relates is available only for
relevant persons and will be engaged in only with relevant persons. Persons
distributing this communication must satisfy themselves that it is lawful to do
so.

Matters discussed in this announcement may constitute forward-looking
statements. Forward-looking statements are statements that are not historical
facts and may be identified by words such as "believe", "expect", "anticipate",
"strategy", "intends", "estimate", "will", "may", "continue", "should" and
similar expressions. The forward-looking statements in this release are based
upon various assumptions, many of which are based, in turn, upon further
assumptions. Although the Company believes that these assumptions were
reasonable when made, these assumptions are inherently subject to significant
known and unknown risks, uncertainties, contingencies and other important
factors which are difficult or impossible to predict and are beyond its control.

Actual events may differ significantly from any anticipated development due to a
number of factors, including without limitation, changes in investment levels
and need for the Company's services, changes in the general economic, political
and market conditions in the markets in which the Company operate, the Company's
ability to attract, retain and motivate qualified personnel, changes in the
Company's ability to engage in commercially acceptable acquisitions and
strategic investments, and changes in laws and regulation and the potential
impact of legal proceedings and actions. Such risks, uncertainties,
contingencies and other important factors could cause actual events to differ
materially from the expectations expressed or implied in this release by such
forward-looking statements. The Company does not provide any guarantees that the
assumptions underlying the forward-looking statements in this announcement are
free from errors nor does it accept any responsibility for the future accuracy
of the opinions expressed in this announcement or any obligation to update or
revise the statements in this announcement to reflect subsequent events. You
should not place undue reliance on the forward-looking statements in this
document.

The information, opinions and forward-looking statements contained in this
announcement speak only as at its date, and are subject to change without
notice. The Company does not undertake any obligation to review, update,
confirm, or to release publicly any revisions to any forward-looking statements
to reflect events that occur or circumstances that arise in relation to the
content of this announcement.

Neither the Managers nor any of their respective affiliates makes any
representation as to the accuracy or completeness of this announcement and none
of them accepts any responsibility for the contents of this announcement or any
matters referred to herein.

This announcement is for information purposes only and is not to be relied upon
in substitution for the exercise of independent judgment. It is not intended as
investment advice and under no circumstances is it to be used or considered as
an offer to sell, or a solicitation of an offer to buy any securities or a
recommendation to buy or sell any securities in the Company. Neither the
Managers nor any of their respective affiliates accepts any liability arising
from the use of this announcement.

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation (MAR) and is subject to the disclosure requirements
pursuant to MAR article 17 and Section 5-12 the Norwegian Securities Trading
Act. This stock exchange announcement was published by Tom Johan Austrheim at
Edda Wind ASA on the time and date provided above

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