With reference to the authorisation granted by the annual general meeting of Moreld ASA ("Moreld" or the "Company") on 20 May 2025, allowing the board of directors (the "Board") to resolve to repurchase shares, Moreld is launching an offer to repurchase up to 2,000,000 shares (the "Offer") (subject to up or down sizing). The Offer will be conducted through a reverse bookbuilding process.
 
In addition to the Offer, the Company also intends to launch a share buy-back programme in order to repurchase a combined amount of up to approximately 5 million shares (the "Potential Buy-back Programme"). The purpose of the Offer and the Potential Buy-back Programme (if and when launched) is to enable the Company to meet its obligations under any applicable employee share incentive programme implemented and/or to repurchase shares for amortization. Any shares purchased by the Company will be held in treasury until used for the aforementioned purposes.
 
Moreld has appointed SpareBank 1 Markets AS ("SB1M" or the "Manager") as sole bookrunner for the repurchase process, and shareholders with interest to sell shares may contact SB1M by phone +47 24 14 74 00.
 
Sales offers submitted to the Manager will be irrevocable and cannot be withdrawn or amended. The final purchase price per share and allocation will be determined by the Board at its sole discretion based on the sales orders received. All selling shareholders will receive the same final purchase price.
 
Through the reverse bookbuilding process, Moreld, via the Manager, will receive offers from shareholders specifying the volume and price at which such shareholders are willing to sell. Moreld and the Manager reserve the right, at their sole discretion, to reject any received order, and Moreld reserves the right, at its sole discretion, to accept any volume, and to modify, terminate, or withdraw the Offer, and increase or decrease the size of the Offer indicated above (including the up to amount indicated herein), and to extend or shorten the Application Period (as defined herein), at any time and for any reason without or on short notice, until completion of the Offer. If the Application Period is extended or shortened, the other dates referred to herein might be changed accordingly.
 
The application period for the Offer commences at 08:30 CEST on 8 July 2025 and is expected to close at 16:30 CEST on 10 July 2025 (the "Application Period"). The final price offered by Moreld and the allocation of tendered shares are expected to be resolved by the Board on or around 10 July 2025. The expected trade date is on or around 11 July 2025 and settlement is expected to be on or around 15 July 2025. Settlement will be conducted on a normal delivery-versus-payment basis (DVP) or via the VPS system.
 
Subject to applicable securities laws, all shareholders in Moreld are invited to participate in the Offer. Shareholders not registered as clients of the Manager must establish a client relationship before the end of the Application Period.
 
If the total volume offered by selling shareholders at or below the final purchase price in the Offer exceeds the finally determined size of the Offer, the Company will determine criteria for the allocation of the acceptances in accordance with the best interest of the Company, taking into account the prices and volumes offered, with equal treatment of the shareholders as the primary objective. Each selling shareholder will be bound to sell any amount up to the number of shares offered by it under the terms of the Offer as finally determined by the Board, if and at such time the sales order is accepted by the Company, irrespective of whether the Company decides to purchase a lower number of shares from the selling shareholder than offered for sale by that shareholder.
 
The Offer will be carried out in accordance with Regulation EU 596/2014 (the "EU Market Abuse Regulation").
 
Moreld currently has a total of 179,555,119 shares in issue, of which it holds 0 shares prior to the Offer.
 
The Potential Buy-back Programme (if and when launched) will be carried out in accordance with EU Market Abuse Regulation and Commission Delegated Regulation (EU) No 2016/1052 (the "Safe Harbour Regulation"). Further information on the Potential Buy-back Programme will be published through a stock exchange announcement, if and when such a programme is launched.
 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
 
For more information, please contact:
 
CEO Geir Austigard
Telephone: +47 992 47 500
Email: Geir.austigard@moreld.com
 
CFO Trond Rosnes
Telephone: +47 404 14 494
Email: Trond.rosnes@moreld.com
 
About Moreld
 
Moreld is an industrial multi-disciplinary engineering group offering full-scope services across the offshore energy and marine industries, including subsea installations. The group comprises Moreld Apply, Ocean Installer and Global Maritime. Moreld is a major player on the Norwegian continental shelf with an international footprint. The Group is located in 19 countries, giving access to all major offshore markets, and has over 2,800 employees and contractors. For more information, please visit https://moreld.com/.
 
IMPORTANT NOTICE
 
The Offer will be carried out in accordance with applicable laws and regulations and information pertaining to the Offer will be disclosed by way of stock exchange notices.
 
Shareholders considering to tender their shares in the Offer are advised to consult with their own tax advisers with respect to the tax position in their country of residence or other jurisdictions to which they may have a tax liability as a result of a sale of shares in the Offer.
 
The Offer and the distribution of this announcement and other information in connection with the Offer may be restricted by law in certain jurisdictions (including, but not limited to, the United States, Canada, Australia and Japan). Neither Moreld nor the Manager assume any responsibility in the event there is a violation by any person of such restrictions. This includes shareholders who have changed their domicile to such jurisdictions but which may access their VPS accounts. Persons into whose possession this announcement or relevant information should come are required to inform themselves about and to observe any such restrictions.
 
The Offer is not being made directly or indirectly in, or by use of the mails of, or by any means or instrumentality of interstate or foreign commerce of, or any facilities of a national securities exchange of, the United States of America, its territories and possessions, any State of the United States and the District of Columbia (the "United States") or any other jurisdiction in which this would be unlawful, require registration or other measures. This includes, but is not limited to, facsimile transmission, internet delivery, e-mail and telephones. Copies of this release and any related documents are not being, and must not be, mailed, e-mailed or otherwise distributed or sent in or into the United States or any such jurisdiction and so doing may invalidate any purported acceptance.