Establishment of employee share purchase plan and allocation of shares under long-term incentive plan

26 May 2025 11:26 CEST

The Board of Directors has resolved to establish an employee share purchase plan
(“ESPP”) for employees of Sea1 Offshore Inc (the "Company"). Under the ESPP,
employees of Sea1 Offshore will purchase a total of 330 000 shares from the
Company. Shares purchased under the ESPP will be subject to a 3-year lock-up
obligation. The shares will be purchased at NOK 14.91 per share, which
represents a discount to the closing price on 23 May 2025, accounting for the
cost associated with the lock-up obligation. The sale and purchase of the shares
is conditional upon Sea1 Offshore successfully acquiring 330 000 shares under a
share buy-back program, which will be launched today (see separate notice).

Furthermore, the Board of Directors has resolved to sell 70,000 shares to
Andreas Kjøl, Chief Commercial Officer of Sea1 Offshore, under the long term
incentive plan announced on 14 November 2024. The shares will be sold at a price
of NOK 14.91 per share, and the sale is conditional upon completion of the share
buy-back program referred to above.

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647472_2025 05 26 PDMR transaction - SEA1.pdf