Completion of reregistration process, ticker change, and conclusion of trading suspension on Euronext Growth Oslo and commencement of trading on the NYSE

16 Mar 2023 21:41 CET

Bermuda, March 16, 2023: Reference is made to: (i) the press release published
by Cool Company Ltd. (“CoolCo” or the “Company”) on February 14, 2023 regarding
the Company’s public filing of a registration statement with the U.S. Securities
and Exchange Commission to list its common shares on the New York Stock Exchange
(“NYSE”) (the “Listing”); (ii) the press release published by the Company on
March 10, 2023 regarding the conclusion of the regulatory review process for the
Listing; and (iii) the press release published by the Company on March 14, 2023
regarding the Trading Suspension required as part of the Reregistration Process
for the Listing.

CoolCo is pleased to announce that its shares will commence trading on the NYSE
on March 17, 2023. The Company’s shares will be tradeable on both the NYSE and
Euronext Growth Oslo under the ticker code “CLCO”.

In connection with the Listing, CoolCo also successfully implemented an
amendment to the registration structure for its shares whereby all shares are
primarily held and settled within the Depository Trust Company in the United
States and secondarily held and settled in Euronext Securities Oslo (the “VPS”)
through a central securities depository link (the “Reregistration Process”).

Due to technical settlement requirements in the VPS while the Reregistration
Process was implemented, a suspension in trading of the Company’s shares on
Euronext Growth Oslo took place from and including March 15, 2023 to and
including March 16, 2023 (the “Trading Suspension”). The Trading Suspension has
now concluded, and the Company’s shares will resume normal trading from start of
trading on Euronext Growth Oslo on March 17, 2023.

ABOUT COOLCO
CoolCo is a growth-oriented owner, operator and manager of fuel-efficient
liquefied natural gas (“LNG”) carriers. Using its integrated, in-house vessel
management platform, CoolCo provides charterers and third-party LNG vessel
owners with modern and flexible management and transportation solutions,
delivering a lesser-emitting form of energy that supports decarbonization
efforts, economic growth, energy security, and improvements in quality of life.
CoolCo intends to leverage its industry relationships to make further accretive
acquisitions of in-service LNGCs, and to selectively pursue newbuild
opportunities.

Additional information about CoolCo can be found at www.coolcoltd.com.

For further information, please contact:

ir@coolcoltd.com

Forward-looking Statements
This press release contains forward-looking statements which include statements
with respect to the Company’s planned listing on the NYSE, including the
expected timing thereof and plans with respect to amending the registration
structure for our shares, our business and other non-historical statements.
Forward-looking statements are typically identified by words or phrases, such as
“about”, “believe,” “expect,” “plan,” “goal,” “target,” “strategy,” and similar
expressions or future or conditional verbs such as “may,” “will,” “should,”
“would,” and “could.” Forward-looking statements are based on our current
estimates or expectations of future events or future results and are subject to
risks and uncertainties and actual results could differ materially from those
indicated by these statements, including risks described under the section
captioned “Risk Factors,” in CoolCo’s registration statement on Form 20-F filed
with the SEC on March 7, 2023, which contains additional information about
factors that could affect actual results, including risks relating to our
industry, business operations, financing and liquidity, regulation and other
risks described in the registration statement. The forward-looking statements
included in this press release are made and based on information available at
the time of the release, and the Company assumes no obligation to update any
forward-looking statement.

This information is subject to the disclosure requirements in Regulation EU
596/2014 (MAR) article 19 number 3 and section 5-12 of the Norwegian Securities
Trading Act.

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