OTL -BSP Brunei contract termination

15 May 2025 12:35 CEST

Reference is made to the notice of a letter of award for the provision of a
Mobile Workover Unit in Southeast Asia made by Odfjell Technology Ltd on 27
August 2024 and the additional information disclosed 13 November 2024. We
regretfully have been informed by Brunei Shell Petroleum Company Sendirian
Berhad (the “Client”, “BSP”) that they are terminating this contract for
convenience. The Client reiterates that the termination is not related to the
performance of Odfjell Technology and the two parties remain open to working
together on future potential projects. Odfjell Technology will close out the
contract in accordance with terms and conditions of the contract. Expenses will
be reimbursed by the client and there will be limited financial effect in 2025.

For further queries, please contact:

Gert Haugland, SVP Finance & Investor Relations
+47 92661638
gjha@odfjelltechnology.com

or

Gillian Basson, Corporate Secretary
+44 (0)7796 547889
gbas@odfjelltechnology.com

Aberdeen, United Kingdom
15th May 2025
Odfjell Technology Ltd

This information is published in accordance with the requirements of the Oslo
Børs Rule Book II section 4.2.4 (1) no. 3 and is subject to the disclosure
requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.

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