Sale of Sea1 Spearfish

14 Apr 2025 08:46 CEST

As part of the fleet renewal program, Sea1 Offshore has signed an agreement to
sell the 2014-built OSCV Sea1 Spearfish to an independent third party. The
vessel is currently on a contract with PXGEO. The remaining firm contract period
is reflected in the sale price.

The sale is done on market terms and will result in a gain of approximately USD
40 million. Existing debt of USD 39 million will be repaid following the
transaction.

The transaction is subject to customary closing conditions and closing is
expected to take place in May 2025.

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