Sale of PSV Energy Passion

12 Mar 2026 14:15 CET

Ålesund 12.03.2026

Reference is made to the stock exchange announcement by Golden Energy Offshore
Services ASA (the "Company") on 12 December 2025 where the Company informed of
its commitment to a near-term sale of minimum two vessels, subject to market
conditions. The Company also refer to the announcements of the sale of PSV
Energy Empress on 23 January 2026 and sale of PSV Energy Partner 26 January
2026.

The Company is pleased to announce that its subsidiary Energy Passion AS has
today received confirmation that all subjects are lifted for a legally binding
sales agreement for the PSV Energy Passion. The agreement is based on the
industry standard Saleform 2012 form and subject to ordinary conditions for
payment upon delivery.

The gross sale price for PSV Energy Passion is agreed at USD 28 million
(approximately NOK 269 million) and the sale is expected to be completed medio
April 2026. Upon completion, the transaction will result in a booked gain of
approximately USD 5,4 million and is expected to generate net proceeds after
repayment of the lease, break fees and transaction costs of approximately USD 14
million (approximately NOK 134 million).

These agreements reconfirm the value of the Company’s modern quality fleet which
after the completion of the sale consists of MPSV Energy Duchess PSV Energy
Paradise and PSV Energy Pace (sister vessels to PSV Energy Passion) and the 2005
built PSV Energy Swan.

For further information, please contact:

Per Ivar Fagervoll
pif@geoff.no
Mobile: + 47 974 28 884

***

This information is considered to include inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to section 5-12 of the Norwegian Securities Trading Act. This stock exchange
announcement was published by Per Ivar Fagervoll, CEO, on 12 January 2026, at
14:15 (CET).

More information:
Access the news on Oslo Bors NewsWeb site