Fixed income investor meetings and Q4 update
22
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01
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2025

Fixed income investor meetings and Q4 update

Sea1 Offshore Inc (the "Company") has mandated ABG Sundal Collier ASA, Arctic Securities AS and DNB Markets, a part of DNB Bank ASA, to arrange a series of fixed income investor meetings commencing on 22 January 2025. A USD denominated senior unsecured bond issue with a 5-year tenor may follow, subject to inter alia market conditions. The net proceeds from the potential bond issue will be used for general corporate purposes, including investments in newbuilds and dividends. The company presentation which will be used for the investor meetings is attached to this announcement.

In connection with the planned investor meetings, the Company announces the following selected, preliminary and unaudited Q4 2024 and full year information (amounts in USD millions):


Operating revenues (Q4): USD 68m
Operating revenues (2024): USD 341m
EBITDA (Q4): USD 35m EBITDA (2024): USD 166m
Cash and cash equivalents (31 December 2024): USD 68m
Net interest bearing debt (31 December 2024): USD 271m
Contract backlog – firm (31 December 2024): USD 840m
Contract backlog – options (31 December 2024): USD 626m

The information contained in this release is based on a preliminary assessment of the Company’s Q4 2024 operating and interim financial results and may be subject to change. The Company will release its Q4 results on 14 February 2025.

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