VENTURA OFFSHORE MIDCO LTD.: Update on DS Carolina

25 Feb 2025 12:40 CET

February 25, 2025 - Ventura Offshore Midco Ltd's (the "Company") DS Carolina rig
has in January been subject to an order of interdiction (i.e. suspension) from
ANP (the regulatory body for oil, natural gas and biofuels industries in
Brazil). ANP is of the view that certain emergency procedures used by the
industry should be improved. The Company has a constructive dialogue with
Petrobras and expects the order of interdiction to be lifted within short time.

The Company's position is that the financial impact of the suspension should not
be material and is in ongoing discussions with its client.

A further update on the above mentioned process will be provided in due course.

For further queries, please contact:
Gunnar W. Eliassen
Chairperson of the Company
+44 7469140012
gunnar@snclondongroup.com

About Ventura Offshore Midco Ltd.
Ventura Offshore Midco Ltd. is a subsidiary of Ventura Offshore Holding Ltd., a
deep water drilling contractor providing deep water offshore drilling services
to the oil and gas industry. Ventura Offshore Holding Ltd. and its subsidiaries’
core activities are focused in the Brazilian offshore oil and gas market.
Ventura Offshore Holding Ltd. and its subsidiaries owns and operates one
drillship, DS Carolina, and two semisubmersible drilling rigs, SSV Victoria and
SSV Catarina, and manages one drillship, Zonda. Ventura Offshore Midco Ltd., and
Ventura Offshore Holding Ltd. are incorporated under the laws of Bermuda.

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