25 May 2020 – Økokrim public prosecutors’ office has dismissed the charge and
withdrawn the penalty charge notice issued to Norwegian subsidiary Aqualis
Offshore AS in connection with a previously alleged violation of the Norwegian
pollution control act, specifically related to the vessel Tide Carrier.

Reference is made to the stock exchange announcement dated 5 March 2020 where
Aqualis Offshore announced that it strongly opposed Økokrim’s assessment of the
company’s role in the case and that it would challenge the NOK 1.6 million
corporate fine. 

“We have always been of the opinion that the company acted diligently in
connection with the marine warranty assignment related to Tide Carrier. We
consider the dismissal of the charge as a recognition of this, plus reflecting a
better understanding of the marine warranty supervisor’s role in such projects.
That said, we are pleased to finally be able to put this case firmly behind us,”
says David Wells, CEO


For further information, please contact: 

Investors and financial media; 
Kim Boman, CFO, AqualisBraemar ASA 
Telephone: +47 959 63 912 

Other media enquiries: 
Endre Johansen, Corporate Communications AS 
Telephone: +47 41 61 06 05
Email: endre.johansen@corpcom.no. 


About AqualisBraemar ASA AqualisBraemar ASA (OSE: Aqua) is a public listed
company that, through its subsidiaries and associates, offers adjusting, marine,
offshore and renewables consultancy services to the energy, shipping and
insurance industries. The group employs specialist engineers, naval architects,
master mariners, loss adjusters and technical consultants in 48 offices located
across 5 continents in 31 countries. AqualisBraemar ASA operates under three
distinct brands globally: 
- AqualisBraemar: a leading adjusting, marine and offshore consultancy to the
energy, shipping and insurance industries 
- AqualisBraemar Yacht Services: a specialised marine consultant to the
superyacht market 
- Offshore Wind Consultants: an independent consultancy to the offshore
renewables sector 

This press release may include “forward-looking statements”. These statements
may be identified by the use of words like “anticipate”, “believe”, “estimate”,
“expect”, “intend”, “may”, “plan”, “project”, “will”, “should”, “seek” and
similar expressions and may refer to, amongst other topics, capital expenditure,
cash flows, costs, growth, performance, profits, sales, acquisitions, and
strategy. Any such statements reflect our views as of the date made and are
subject to risks and uncertainties. We disclaim any responsibility to update
forward-looking statements