NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN
AUSTRALIA, CANADA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE'S
REPUBLIC OF CHINA, SOUTH AFRICA, NEW ZEALAND, JAPAN, THE UNITED STATES, THE
UNITED KINGDOM OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR
DISTRIBUTION WOULD BE UNLAWFUL.

Limassol, 3 October 2022

Reference is made to the stock exchange release from ADS Maritime Holding Plc
("ADS" or the "Company") published on 22 July 2022 regarding completion of a
private placement in the Company raising gross proceeds of approx. NOK 100
million (the "Private Placement") and the separate stock exchange release as of
the same date, regarding key information relating to a potential subsequent
offering. In the said releases, the board of directors of the Company (the
"Board") announced that it intended to carry out a subsequent offering,
consisting of a secondary sale of up to 34,190,476 existing ordinary shares in
the Company by the Underwriter (the "Subsequent Offering").

In the Subsequent Offering, eligible shareholders, being shareholders of the
Company as of 22 July 2022, as registered in the Norwegian Central Securities
Depository (the "VPS") on 26 July 2022 pursuant to the VPS' standard two day
settlement procedure (the "Record Date"), except for shareholders (i) who were
allocated shares in the Company's private placement announced on 22 July 2022
(the "Private Placement"), and (ii) who are resident in a jurisdiction, other
than Norway, where such offering would be unlawful, or would require a
prospectus filing, registration or similar actions (such eligible shareholders
jointly, "Eligible Shareholder") will be granted non-transferable allocation
rights (the "Allocation Rights") that, subject to applicable law, give a right
to apply for and be allocated Offer Shares in the Subsequent Offering (the
"Subsequent Offer Shares")at the Allocation Price (as defined below).

The Application Period in the Subsequent Offering commences on 4 October 2022 at
09:00 (CEST) and ends on 18 October 2022 at 16:30 (CEST). The offer price (the
"Offer Price") is NOK 2.10 per Offer Share. If the market price of the Company's
shares exceed the Offer Price, the Allocation Rights will have
financial value. However, if the market price of the Company's shares is below
the Offer Price, the Allocation Rights will not have financial value because it
will be possible to buy shares in the market at cheaper prices than the Offer
Price, subject to sufficient volume of shares being available for purchase.

Eligible Shareholders will be granted 2.03981 Allocation Rights for every
existing share registered as held by such Eligible Shareholder as of the Record
Date, rounded down to the nearest whole Allocation Right. One (1) allocation
will give the right to apply for and be allocated one (1) Offer Share. The
maximum number of Offer Shares that will be allocated as part of the Subsequent
Offering is limited to the amount of Allocation Rights in issue. Applications
without Allocation Rights will not be permitted. The Allocation Rights will not
be tradable. Allocation Rights that are not used to apply for Offer Shares
before the end of the Application Period will have no value and will lapse
without compensation to the holder. 

The Subsequent Offer Shares are existing shares in the Company offered by one of
the Company's shareholders, B T Larsen & Co Ltd (the "Selling shareholder"). Any
Offer Shares that are not allocated on the basis of exercised Allocation Rights
will remain in the holding of the Selling Shareholder.

In order to apply for shares, Eligible Shareholders must provide Arctic
Securities AS (the "Manager") with a correctly completed and duly signed
application form within the end of the Application Period. Further instructions
regarding the allocation procedure are available in the Prospectus (as defined
below). The Application Rights must be used to apply for Offer Shares in the
Application Period and before the expiry of the Application Period 18 October
2022 at 16:30 hours (CEST).

Notifications of allocation in the Subsequent Offering are expected to be issued
on or about 19 October 2022. The due date for payment of allocated Offer Shares
is on or about 24 October 2022 (the "Payment Date"). A prospectus dated 3
October 2022 (the "Prospectus") is available electronically at
https://www.arctic.com/secno/en/offerings. 

Arctic Securities AS act as the Manager and receiving agent in the Subsequent
Offering. 

For further information, please contact:
Terje Bodin Larsen, CEO 
+47 905 35 543 
tbl@ads.no 

Dagfinn Andersen, CFO 
+47 922 91 001 
dagfinn.andersen@ads.no 

About ADS Maritime Holding Plc
ADS Maritime Holding Plc is a public limited company listed on the Euronext
Growth at the Oslo Stock Exchange (ticker ADS). The Company is incorporated and
domiciled in Cyprus and has Norwegian subsidiaries based in Arendal, Norway. For
more information, visit www.adsmh.com 

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation. This stock exchange release was published by Dagfinn
Andersen, Chief Financial Officer on the time and date provided.

Important information 

The release is not for publication or distribution, in whole or in part directly
or indirectly, in or into Australia, Canada, Japan Hong Kong or the United
States (including its territories and possessions, any state of the United
States and the District of Columbia). This release is an announcement issued
pursuant to legal information obligations and is subject to the disclosure
requirements of section 5-12 of the Norwegian Securities Trading Act. It is
issued for information purposes only and does not constitute or form part of any
offer or solicitation to purchase or subscribe for securities, in the United
States or in any other jurisdiction. The securities mentioned herein have not
been, and will not be, registered under the United States Securities Act of
1933, as amended (the "US Securities Act"). The securities may not be offered or
sold in the United States except pursuant to an exemption from the registration
requirements of the US Securities Act. The Company does not intend to register
any portion of any offering of the securities in the United States or to conduct
a public offering of the securities in the United States. Copies of this
announcement are not being made and may not be distributed or sent into
Australia, Canada, Japan or the United States. 

The issue, subscription or purchase of shares in the Company is subject to
specific legal or regulatory restrictions in certain jurisdictions. Neither the
Company nor the Manager assume any responsibility in the event there is a
violation by any person of such restrictions. The distribution of this release
may in certain jurisdictions be restricted by law. Persons into whose possession
this release comes should inform themselves about and observe any such
restrictions. Any failure to comply with these restrictions may constitute a
violation of the securities laws of any such jurisdiction. 

The Manager is acting for the Company and no one else in connection with the
Private Placement in the Company, and will not be responsible to anyone other
than the Company providing the protections afforded to its clients or for
providing advice in relation to the Private Placement and/or any other matter
referred to in this release. 

Forward-looking statements: This release and any materials distributed in
connection with this release may contain certain forward-looking statements. By
their nature, forward-looking statements involve risk and uncertainty because
they reflect the Company's current expectations and assumptions as to future
events and circumstances that may not prove accurate. A number of material
factors could cause actual results and developments to differ materially from
those expressed or implied by these forward-looking statements.