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.
 
Reference is made to the stock exchange announcement by ADS Maritime Holding Plc
(the "Company") published on 18 October 2022 regarding the expiry of the
application period (the "Application Period") for the subsequent offering (the
"Subsequent Offering") of up to up to 34,190,476 existing ordinary shares in the
Company (the "Offer Shares") at a price of NOK 2.10 per Offer Share.

The Application Period for the Subsequent Offering expired on 18 October 2022 at
16:30 (CEST). By the end of the Application Period, the Company had received
valid applications for a total of 202,209 Offer Shares. A total of 202,209 Offer
Shares have been allocated by the Company's board of directors in accordance
with the allocation criteria set out in the Company's prospectus dated, 3
October 2022.

Notification of allocated Offer Shares in the Subsequent Offering and the
corresponding amount to be paid by each applicant is set out in a separate
notification letter to each applicant to whom Offer Shares have been allotted.
The due date for payment of allocated Offer Shares is 24 October 2022.

Subject to timely payment, the Offer Shares will be delivered to the VPS
accounts of the Applicants to whom they have been allocated on or about 26
October 2022.

Please refer to the attached template regarding the disclosure of B T Larsen &
Co Ltd. pursuant to section 19 of the Market Abuse Regulation.

Arctic Securities AS act as the manager and the 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

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The release is not for publication or distribution, in whole or in part directly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 or any other
jurisdiction in which such release, publication or distribution would be
unlawfull. 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.