Copenhagen, December 15, 2023: With reference to the stock exchange announcement
dated November 7, 2023 published by Cadeler A/S (OSE: CADLR) ("Cadeler")
regarding the launch of a share exchange offer for all outstanding shares of the
common stock of Eneti Inc. (NYSE: NETI) ("Eneti") (the "Share Exchange Offer")
and the stock exchange announcement dated December 8, 2023 published by Cadeler
regarding the extension of the Share Exchange Offer until December 14, 2023, at
5:30 p.m. (ET) / 11:30 p.m. (CET), Cadeler today announces preliminary results
of the Share Exchange Offer. Based on the exchange agent's preliminary count,
33,385,714 shares of Eneti common stock have been validly tendered and not
validly withdrawn in the Share Exchange Offer, corresponding to an acceptance
rate of approximately 86.39% of the total number of outstanding shares of Eneti
common stock (excluding treasury shares held by Eneti). Following the business
combination of Cadeler and Eneti, Cadeler will become a leading offshore wind
installation company.

Based on the preliminary results, the acceptance rate satisfies the minimum
acceptance rate as set out in the business combination agreement between Cadeler
and Eneti dated June 16, 2023 and as reduced to 70% in accordance with the terms
of the Share Exchange Offer as announced in the stock exchange announcement
dated December 8, 2023. Completion of the Share Exchange Offer is subject to,
and conditional upon, the satisfaction or waiver of certain other conditions
described in the Prospectus/Offer to Exchange dated November 7, 2023, including
registration of the capital increase with the Danish Business Authority, each of
which is expected to be obtained on or around December 19, 2023. The number of
shares tendered in the Share Exchange Offer is preliminary and remains subject
to potential adjustments through a verification process undertaken by the
exchange agent for the Share Exchange Offer. Cadeler expects to announce the
final results of the Share Exchange Offer on or around December 18, 2023.
Following the business combination of Cadeler and Eneti, the combined group will
be named Cadeler and be headquartered in Copenhagen, Denmark. The current CEO of
Cadeler Mikkel Gleerup will continue as CEO after the combination, and Peter
Brogaard Hansen will continue as CFO.

Mr. Mikkel Gleerup, CEO of Cadeler said: "We highly appreciate the strong
shareholder support. This underlines the trust in Cadeler's vision and
capability to facilitate the renewable transition. We offer our partners and
clients access to one of the strongest and most skilled teams across continents,
with decades of operating track record. And to one of the industry's largest,
most flexible, most diverse, and modern fleet of windfarm installation vessels.
Cadeler will be able to handle the largest and most complex next-generation
offshore wind installation projects currently seen in the market. Providing our
customers a strong choice of flexibility and solid operational track-record".

As previously announced on November 29, 2023, Cadeler has applied for the
listing and admission to trading of up to 32,963,495 American depositary shares
(the "ADSs"), each representing four (4) shares of Cadeler with a nominal value
of DKK 1.00 per share, and the listing of the Cadeler shares underlying such
ADSs, on the New York Stock Exchange. Accordingly, and as a result of the
preliminary results announced today, Cadeler expects that the ADSs will commence
trading on the New York Stock Exchange on a "when-issued" basis today, December
15, 2023, at 9:30 a.m. (ET) / 3:30 p.m. (CET). Accordingly, Cadeler's ADSs will
then be listed and admitted to trading on the New York Stock Exchange in
addition to Cadeler's current listing on the Oslo Stock Exchange.

Assuming that the conditions to the Share Exchange Offer are satisfied or
waived, Cadeler expects that settlement will be completed on or about December
19, 2023.

Indicative Timetable
The following table sets out the expected dates and times of the key events
relating to the Share Exchange Offer. This is an indicative timetable and is
subject to Cadeler's right to extend, re-open, amend, limit, terminate or
withdraw the Share Exchange Offer, subject to applicable law. Accordingly, the
actual timetable may differ significantly from the expected timetable set out
below.

Event	Calendar date
Commencement of trading of Cadeler ADSs on the New York Stock Exchange on a
"when issued" basis		
On or about December 15, 2023
Expected date for approval of an EU/EEA Listing Prospectus for the new Cadeler
Shares		
On or about December 18, 2023
Expected settlement date		
On or about December 19, 2023
Admission to trading of the new Cadeler Shares on the Oslo Stock Exchange		
On or about December 20, 2023
Commencement of trading of Cadeler ADSs on the New York Stock Exchange on a
regular-way settlement basis
On or about December 20, 2023

The Share Exchange Offer

The Share Exchange Offer was made on the terms and subject to the conditions and
procedures set forth in the Prospectus/Offer to Exchange, dated November 7,
2023, and in the related letter of transmittal, together with any amendments or
supplements thereto. The Share Exchange Offer was extended on December 8, 2023
until 5:30 p.m., Eastern time, on December 14, 2023. 

Next step: Squeeze-out merger

Following completion of the Share Exchange Offer, Cadeler intends to complete
its acquisition of the entire equity interest in Eneti by effecting a
squeeze-out merger, to be governed by the laws of the Republic of the Marshall
Islands, pursuant to which a wholly owned subsidiary of Cadeler (the "Merger
Sub") will merge with and into Eneti, with the Merger Sub surviving the Merger.
The purpose of the Merger is for Cadeler to acquire all of the shares of Eneti
common stock that it did not acquire in the Share Exchange Offer. Upon the
consummation of the merger, the Eneti business will be held by a wholly owned
subsidiary of Cadeler.

For further information, please contact:
Point of contact for investors:
Mikkel Gleerup, CEO
+45 3246 3102
mikkel.gleerup@cadeler.com 

Point of contact for media:
Karen Roiy, Head of Marketing & Communication
+45 6020 8706
karen.roiy@cadeler.com 

About Cadeler A/S:
Cadeler A/S is a key supplier within the offshore wind industry for installation
services and marine and engineering operations with a strong focus on safety and
the environment. Cadeler's experience as provider of high-quality offshore wind
support services, combined with innovative vessel designs, positions the company
to deliver premium services to the industry. Cadeler facilitates the global
energy transition towards a future built on renewable energy. Cadeler is listed
on the Oslo Stock Exchange (OSE: CADLR).
Visit www.cadeler.com for more information.

Additional Information and Where to Find It
Important Additional Information Will be Filed with the SEC
Cadeler A/S ("Cadeler") commenced an offer to exchange all of the issued and
outstanding shares of Eneti Inc. ("Eneti") for shares or American Depositary
Shares ("ADSs") representing shares in Cadeler on November 7, 2023. This
communication is for informational purposes only and is neither an offer to
purchase nor a solicitation of an offer to sell shares, nor is it a substitute
for any offer materials that Cadeler or Eneti have filed or will file with the
U.S. Securities and Exchange Commission (the "SEC"). Cadeler has filed or will
file with the SEC (1) a Tender Offer Statement on Schedule TO, (2) a
Registration Statement on Form F-4 that includes an offering prospectus with
respect to the exchange offer, and (3) a Registration Statement on Form F-6, and
Eneti has filed or will file with the SEC a Solicitation/Recommendation
Statement on Schedule 14D-9, in each case with respect to the exchange offer.
INVESTORS AND STOCKHOLDERS ARE URGED TO READ THE REGISTRATION
STATEMENT/PROSPECTUS, THE EXCHANGE OFFER MATERIALS (INCLUDING THE OFFER TO
EXCHANGE, A RELATED LETTER OF TRANSMITTAL AND CERTAIN OTHER EXCHANGE OFFER
DOCUMENTS) AND THE SOLICITATION/RECOMMENDATION STATEMENT, IF AND WHEN THEY
BECOME AVAILABLE, AND ANY OTHER DOCUMENTS FILED BY EACH OF CADELER AND ENETI
WITH THE SEC, OR APPROVED BY THE DANISH FSA, IN CONNECTION WITH THE PROPOSED
BUSINESS COMBINATION (INCLUDING THE EXCHANGE OFFER) OR INCORPORATED BY REFERENCE
THEREIN CAREFULLY AND IN THEIR ENTIRETY AS THESE DOCUMENTS WILL CONTAIN
IMPORTANT INFORMATION ABOUT CADELER, ENETI, THE PROPOSED TRANSACTION AND RELATED
MATTERS THAT HOLDERS OF THE COMPANY'S SECURITIES SHOULD CONSIDER BEFORE MAKING
ANY DECISION REGARDING EXCHANGING THEIR SECURITIES. Investors and stockholders
will be able to obtain the registration statement/prospectus, the exchange offer
materials (including the offer to exchange, a related letter of transmittal and
certain other exchange offer documents), the solicitation/recommendation
statement and other documents filed with the SEC by Cadeler and Eneti at no cost
to them through the website maintained by the SEC at www.sec.gov. In addition,
investors and stockholders may obtain copies of any document filed with the SEC
by Cadeler free of charge from Cadeler's website at www.cadeler.com and copies
of any document filed with the SEC by Eneti free of charge from Eneti's website
at www.eneti-inc.com. The contents of this communication should not be construed
as financial, legal, business, investment, tax or other professional advice.
Each recipient should consult with its own professional advisors for any such
matter and advice. 

Important Notice

This communication and the prospectus referred to above do not constitute a
prospectus as defined by Regulation (EU) No. 2017/1129 of 14 June 2017 (the
"EU/EEA Prospectus Regulation") and no public takeover offer is made pursuant to
the Directive 2004/25/EC of 21 April 2004 on takeover bids in connection with
the exchange offer referred to above. A prospectus pursuant to the EU/EEA
Prospectus Regulation is expected to be published by Cadeler following
completion of the Offer Period set out herein for the purpose of admission to
trading of the new Cadeler Shares underlying the Cadeler ADSs to the Oslo Stock
Exchange. This communication does not contain all the information that should be
considered concerning the Share Exchange Offer and is not intended to form the
basis of any investment decision or any other decision in respect of the
proposed transaction.

No Offer or Solicitation

This communication is not intended to and does not constitute an offer to sell
or the solicitation of an offer to subscribe for, exchange or buy or an
invitation to purchase, exchange or subscribe for any securities or the
solicitation of any vote in any jurisdiction pursuant to the proposed
transaction or otherwise, nor shall there be any sale, issuance or transfer of
securities in any jurisdiction, in each case in contravention of applicable law.
No offer of securities shall be made except by means of a prospectus meeting the
requirements of Section 10 of the Securities Act and applicable European or UK,
as appropriate, regulations. Subject to certain exceptions to be approved by the
relevant regulators or certain facts to be ascertained, the public offer will
not be made directly or indirectly, in or into any jurisdiction where to do so
would constitute a violation of the laws of such jurisdiction, or by use of the
mails or by any means or instrumentality (including without limitation,
facsimile transmission, telephone and the internet) of interstate or foreign
commerce, or any facility of a national securities exchange, of any such
jurisdiction.

This communication is addressed to and directed only at, persons who are outside
the United Kingdom or, in the United Kingdom, at authorised or exempt persons
within the meaning of the Financial Services and Markets Act 2000 or persons who
have professional experience in matters relating to investments falling within
Article 19(5) of the Financial Services and Markets Act 2000 (Financial
Promotion) Order 2005 (the "Order"), persons falling within Article 49(2)(a) to
(d) of the Order or persons to whom it may otherwise lawfully be communicated
pursuant to the Order, (all such persons together being referred to as,
"Relevant Persons"). This communication is directed only at Relevant Persons.
Other persons should not act or rely on this communication or any of its
contents. Any investment or investment activity to which this communication
relates is available only to Relevant Persons and will be engaged in only with
such persons. Solicitations resulting from this communication will only be
responded to if the person concerned is a Relevant Person.

Forward-Looking Statements

This communication includes forward-looking statements within the meaning of the
federal securities laws (including Section 27A of the United States Securities
Act of 1933, as amended, the "Securities Act") with respect to the proposed
transaction between Eneti and Cadeler, including statements regarding the
benefits of the transaction, the anticipated timing of the transaction, the
products and services offered by Eneti and Cadeler and the markets in which they
operate, and Eneti's and Cadeler's projected future financial and operating
results. These forward-looking statements are generally identified by
terminology such as "believe," "may," "will," "potentially," "estimate,"
"continue," "anticipate," "intend," "could," "would," "should," "project,"
"target," "plan," "expect," or the negatives of these terms or variations of
them or similar terminology. The absence of these words, however, does not mean
that the statements are not forward-looking. These forward-looking statements
are based upon current expectations, beliefs, estimates and assumptions that,
while considered reasonable as and when made by Eneti and its management, and
Cadeler and its management, as the case may be. Such forward-looking statements
are subject to risks, uncertainties, and other factors that could cause actual
results to differ materially from those expressed or implied by such
forward-looking statements. New risks and uncertainties may emerge from time to
time, and it is not possible to predict all risks and uncertainties. Neither
Eneti nor Cadeler undertake any obligation to update any such statements in
light of any future event or circumstance, or to conform such statements to
actual results. Past performance should not be relied upon, and is not, a
guarantee of future performance.
Many factors could cause actual future events to differ materially from the
forward-looking statements in this communication, including but not limited to:
(i) the risk that the transaction may not be completed in a timely manner or at
all, which may adversely affect the price of Eneti's and Cadeler's securities,
(ii) the failure to satisfy the conditions to the consummation of the
transaction, including the acceptance of the proposed exchange offer by the
requisite number of Eneti shareholders and the receipt of certain governmental
and regulatory approvals, (iii) general domestic and international political
conditions or hostilities, including the war between Russia and Ukraine