Copenhagen, November 29, 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 of the outstanding shares
of common stock of Eneti Inc. (NYSE: NETI) (the "Offer"), Cadeler today
announces that it has submitted an application to the New York Stock Exchange
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, to be issued in connection with the Offer, and the
listing of the Cadeler shares underlying such ADSs on the New York Stock
Exchange. 

The ADSs are expected to commence trading on the New York Stock Exchange on a
"when issued" basis on or about 8 December 2023 and to commence trading on a
regular way settlement basis on or about 12 December 2023 after expiration of
the Offer and the satisfaction or waiver of certain conditions of the Offer as
described in the Prospectus/Offer to Exchange dated November 7, 2023. The
foregoing dates are indicative only and subject to the right of Cadeler to
extend, re-open, amend, limit, terminate or withdraw the Offer, subject to
applicable law. Accordingly, the actual timetable may differ significantly from
the expected timetable set out above.

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 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