EIOF - Key information regarding potential subsequent offering

03 Mar 2023 00:10 CET

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UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE. PLEASE SEE THE IMPORTANT NOTICE AT
THE END OF THE PRESS RELEASE

In accordance with the continuing obligations of 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 of the repair issue were announced: 2
March 2023
• Last day including right: 2 March 2023
• Ex-date: 3 March 2023
• Record date: 6 March 2023
• Date of resolution to issue shares: To be decided after the EGM (as defined
below)
• Maximum number of new shares: 2,000,000 new shares
• Subscription price: NOK 12.00

Reference is made to Eidesvik Offshore ASA's (OSE: EIOF) ("EIOF" or the
"Company") stock exchange announcement dated 2 March 2023, regarding the
successful completion of a private placement of 10,833,333 new shares in the
Company with gross proceeds of approximately NOK 130 million (the "Private
Placement") and that the Company is considering a subsequent offering (the
"Subsequent Offering") with non-tradeable subscription rights of up to 2,000,000
new shares in the Company which, subject to applicable securities law, will be
directed towards existing shareholders in the Company as of close of trading on
2 March 2023 (as registered in the VPS on 6 March 2023) (the "Record Date") who;
(i) were not included in the wallcrossing phase of the Private Placement; (ii)
were not allocated shares in the Private Placement; and (iii) are not resident
in a jurisdiction where such offering would be unlawful or, would (in
jurisdictions other than Norway) require any prospectus, filing, registration or
similar action ("Eligible Shareholders").

The Eligible Shareholders will receive non-tradeable subscription rights based
on their registered shareholdings as of the Record Date. Oversubscription will
be permitted. Subscription without subscription rights will not be permitted.

Completion of the Subsequent Offering will, inter alia, be conditional upon; (i)
completion of the Private Placement; (ii) a resolution of the extraordinary
general meeting, expected to be held on or about 24 March 2023, resolving the
share capital increases pertaining to the issuance of the new shares in the
Private Placement and authorizing the board of the Company to resolve the
Subsequent Offering; (iii) the trading price of the Company's shares exceeding
the subscription price; and (iv) the approval of a prospectus by the Norwegian
Financial Supervisory Authority (Nw.: Finanstilsynet) (the "Prospectus"). The
subscription period for the Subsequent Offering (launched) is expected to
commence in the second quarter of 2023, subject to inter alia approval and
publication of the Prospectus.

The formal resolution (including the final number of new shares to be offered)
related to the Subsequent Offering will be made by the board after the
extraordinary general meeting and in connection with the approval and subsequent
publication of the Prospectus.

ADVISORS
Pareto Securities AS is engaged as the manager and bookrunner for the Private
Placement and Advokatfirmaet Selmer AS is engaged as legal counsel to the
Company.

CONTACT
For further information, please contact:
Helga Cotgrove, Chief Financial Officer
Phone: +47 90 73 52 46


IMPORTANT INFORMATION
This document is not an offer to sell or a solicitation of offers to purchase or
subscribe for shares. Copies of this document may not be sent to jurisdictions,
or distributed in or sent from jurisdictions, in which this is barred or
prohibited by law. The information contained herein shall not constitute an
offer to sell or the solicitation of an offer to buy, in any jurisdiction in
which such offer or solicitation would be unlawful prior to registration,
exemption from registration or qualification under the securities laws of any
jurisdiction.

This communication may not be published, distributed, or transmitted in or into
the United States, Canada, Australia, the Hong Kong Special Administrative
Region of the People's Republic of China, South Africa or Japan and it does not
constitute an offer or invitation to subscribe for or purchase any securities in
such countries or in any other jurisdiction. In particular, the document and the
information contained herein should not be distributed or otherwise transmitted
into the United States of America or to U.S. persons (as defined in the U.S.
Securities Act of 1933, as amended (the "Securities Act")) or to publications
with a general circulation in the United States of America.

This document is not an offer for sale of securities in the United States. The
securities referred to herein have not been and will not be registered under the
Securities Act, or the laws of any state, and may not be offered or sold in the
United States of America absent registration under or an exemption from
registration under Securities Act.

EIOF does not intend to register any part of the offering in the United States.
There will be no public offering of the securities in the United States of
America. The information contained herein does not constitute an offer of
securities to the public in the United Kingdom. No prospectus offering
securities to the public will be published in the United Kingdom. This document
is only being distributed to and is only directed at (i) persons who are outside
the United Kingdom or (ii) to investment professionals falling within article
19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order
2005 (the "Order") or (iii) high net worth entities, and other persons to whom
it 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"). The
securities are only available to, and any invitation, offer or agreement to
subscribe, purchase or otherwise acquire such securities will be engaged in only
with, relevant persons. Any person who is not a relevant person should not act
or rely on this document or any of its contents. 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. Investing in securities involves certain risks. This publication
may contain specific forward-looking statements, e.g. statements including terms
like "believe", "assume", "expect", "forecast", "project", "may", "could",
"might", "will" or similar expressions. Such forward -looking statements are
subject to known and unknown risks, uncertainties and other factors which may
result in a substantial divergence between the actual results, financial
situation, development or performance of EIOF and those explicitly or implicitly
presumed in these statements. Against the background of these uncertainties,
readers should not rely on forward-looking statements. EIOF assumes no
responsibility to update forward -looking statements or to adapt them to future
events or developments.

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