Sea1 Offshore Inc ("Sea1") has resolved to initiate a share buy-back programme. Under the programme, Sea1 will repurchase up to 400,000 of its own shares for a maximum consideration not exceeding NOK 15,000,000. Sea1 intends to use the repurchased shares for the long-term incentive programme which was announced today. The buyback programme will commence on 14.11.2024 and is planned to be finalised within 15.12.2024. Under the programme, the minimum price that can be paid per share is NOK 10 and the maximum price is NOK 100. Arctic Securities AS has been engaged to carry out the share buy-back programme on behalf of Sea1. Arctic Securities AS will make its trading decisions independently of Sea1. The execution of any repurchases will depend on market conditions, and Sea1 may resolve to terminate the buy-back programme before the threshold set out above is reached.

The share buy-back programme is carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 ("MAR") and Commission Delegated Regulation (EU) No 2016/1052 ("Safe Harbour Regulation"). This information is made public by Sea1 pursuant to the EU Market Abuse.

Regulation and subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.