Fixed income investor meetings and Q4 update

22 Jan 2025 07:30 CET

Sea1 Offshore Inc (the "Company") has mandated ABG Sundal Collier ASA, Arctic
Securities AS and DNB Markets, a part of DNB Bank ASA, to arrange a series of
fixed income investor meetings commencing on 22 January 2025. A USD denominated
senior unsecured bond issue with a 5-year tenor may follow, subject to inter
alia market conditions. The net proceeds from the potential bond issue will be
used for general corporate purposes, including investments in newbuilds and
dividends. The company presentation which will be used for the investor meetings
is attached to this announcement.

In connection with the planned investor meetings, the Company announces the
following selected, preliminary and unaudited Q4 2024 and full year information
(amounts in USD millions):

Operating revenues (Q4): USD 68m
Operating revenues (2024): USD 341m
EBITDA (Q4): USD 35m
EBITDA (2024): USD 166m
Cash and cash equivalents (31 December 2024): USD 68m
Net interest bearing debt (31 December 2024): USD 271m
Contract backlog – firm (31 December 2024): USD 840m
Contract backlog – options (31 December 2024): USD 626m

The information contained in this release is based on a preliminary assessment
of the Company’s Q4 2024 operating and interim financial results and may be
subject to change. The Company will release its Q4 results on 14 February 2025.

For further information, please contact:

CEO Bernt Omdal, +47 91522299


This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to section 5-12 in the Norwegian Securities Trading Act.

More information:
Access the news on Oslo Bors NewsWeb site

636900_Sea1 Offshore Inc. - Company presentation (January 2025).pdf