London, UK - September 24, 2025

The Company and EPS Ventures Ltd ("EPS" or the "Acquirer") today announced they
are in advanced discussions regarding a potential transaction under which EPS
would acquire all of the outstanding shares of CoolCo that are not already held
by EPS in exchange for $9.65 in cash per common share. The transaction would be
implemented through a cash merger of a wholly owned subsidiary of EPS with and
into CoolCo under the laws of Bermuda. Following completion of the merger, the
Company would be wholly owned by EPS and would seek to be delisted from the New
York Stock Exchange and Euronext Growth Oslo. 

The $9.65 per share acquisition price represents a 26% premium to the closing
price on September 22, 2025 and a 38% premium to the volume weighted average
share price of CoolCo's common shares for the 90 trading day period through
September 22, 2025. 

The Board of Directors of CoolCo (the "Board") has established an independent
Special Committee, comprised solely of independent and disinterested directors,
with its own independent legal and financial advisors, to review and negotiate
the terms of the potential transaction. The Special Committee intends to
recommend to the Board the approval of the proposed terms of the transaction,
subject to the completion of mutually acceptable definitive agreements.   

"Despite challenging market conditions our commitment to CoolCo's long-term
development and, above all, to serving our charterers with the highest level of
reliability and dedication remains unchanged.  We believe our offer provides the
best long-term alternative for CoolCo shareholders and we hope to bring this
proposed transaction to a close in the very near future," said Cyril Ducau, CEO
of Eastern Pacific Ventures Pte Ltd.

The Company and EPS are targeting a closing of the potential transaction during
the fourth quarter of 2025 or the first quarter of 2026, subject to requisite
approvals of the transaction, including by holders of a majority of the common
shares of CoolCo and the satisfaction of certain other customary closing
conditions. EPS owns 59.3% of the common shares outstanding and intends to enter
into a support agreement with the Company committing to vote its common shares
in favor of the merger.  There can be no assurances that CoolCo and EPS will
successfully negotiate definitive agreements, or that the proposed transaction
will be consummated.

In the event that definitive agreements are executed, detailed information
regarding the proposed transaction, including the Special Committee's and the
Board's recommendation, will be included in the Company's proxy statement and/or
related filings to be made with the U.S. Securities and Exchange Commission (the
"SEC"). Shareholders are encouraged to review these materials carefully before
voting.

Evercore is acting as financial advisor to the Special Committee and Latham &
Watkins LLP is acting as legal counsel to the Special Committee. Skadden, Arps,
Slate, Meagher & Flom (UK) LLP is acting as legal counsel to EPS and Credit
Agricole is acting as financial advisor to EPS.

ABOUT COOLCO
CoolCo is an LNG Carrier pure play with a fleet of 13 vessels and a
well-balanced portfolio of short- and long-term charters with the world's
leading oil & gas, trading, and utility companies. In addition to organic growth
from two newbuilds delivered in Q4 2024 and Q1 2025, CoolCo's strategy includes
ongoing assessment of growth opportunities through vessel acquisitions and
potential consolidation in the fragmented LNG market. Through its in-house LNG
transportation and infrastructure management platform, CoolCo operates its own
vessels and provides management services to third-party owners. The company
benefits from the scale and support of Eastern Pacific Shipping, an affiliate of
its largest shareholder and the owner of one of the world's largest independent
shipping fleets. This affiliation strengthens CoolCo's strategic position with
shipyards, financial institutions, and deal flow access. CoolCo is committed to
supporting global decarbonization and energy security. As part of its LNGe
upgrade program, the company aims to reduce emissions by 10-15%, contributing to
a fleet-wide emissions reduction target of 35% from 2019 to 2030.

Additional information about CoolCo can be found at www.coolcoltd.com.

FORWARD LOOKING STATEMENTS
This press release and any written or oral statements made by us in connection
with this press release include forward-looking statements. In some cases, you
can identify forward-looking statements by terminology such as "aim,"
"anticipate," "assume," "believe," "contemplate," "continue," "could," "due,"
"estimate," "expect," "goal," "intend," "may," "objective," "plan," "predict,"
"potential," "positioned," "seek," "should," "target," "will," "would" and other
similar expressions that are predictions of or indicate future events and future
trends, or the negative of these terms or other comparable terminology, although
not all forward-looking statements contain these words. All statements contained
in this press release that do not relate to matters of historical fact should be
considered forward-looking statements, including but not limited to, statements
regarding the proposed transaction (the "Transaction"), including the expected
timing of the closing of the Transaction