HD Hyundai Global Service, a ship service subsidiary of HD Hyundai Group, has
announced that it has signed contracts on June 6th with Cool Company Ltd (NYSE:
CLCO / CLCO.OL "CoolCo"), an owner and operator of LNG vessels, to retrofit five
LNG carriers with sub-coolers for LNG boil-off reliquefaction ("reliquefaction
units"). The contract value is approximately 10M US Dollars per vessel.

A reliquefaction unit is a device used to re-liquefy the boiled off gas (BOG)
generated during the operation of LNG cargo tanks, either returning the gas to
the cargo tank or preventing natural evaporation using sub-cooled LNG. When a
vessel is in operation, boiled off gas ("BOG") is consumed as fuel by the
propulsion engine. However, without a reliquefaction unit, during periods of
reduced vessel speed, during port stays, or while utilizing the vessel for
floating storage, the BOG needs to be forcibly burned, resulting in the loss of
LNG cargo and the emission of greenhouse gases, leading to environmental
pollution.

The utilization of a reliquefaction unit is known to be effective mainly in LNG
carriers equipped with tri-fuel electric propulsion (TFDE) or two-stroke
dual-fuel (DF) engines, and HD Hyundai Global Service is currently receiving
inquiries from its customers for additional reliquefaction unit retrofit work
similar to that being performed for CoolCo.

At the International Maritime Organization's ("IMO") 78th Marine Environment
Protection Committee meeting in 2022, a correction item was adopted so that LNG
carriers could deduct fuel consumption equivalent to the amount of power used in
cargo reliquefaction equipment when calculating the ship's Carbon Intensity
Indicator ("CII"), which has been adopted as IMO's short-term greenhouse gas
measure and has been incorporated into certain international environmental
regulations that tighten over time.

As a leading provider in ship services industries, HD Hyundai Global Service has
a long history of providing innovative solutions to meet the needs of its
customers. The retrofit of the reliquefaction unit is a testament to the
company's commitment to providing its customers with the best possible service.

CoolCo is a growth-oriented owner, operator and manager of fuel-efficient
liquefied natural gas ("LNG") carriers. Using its integrated, in-house vessel
management platform, CoolCo provides charterers and third-party LNG vessel
owners with modern and flexible management and transportation solutions,
delivering a lesser-emitting form of energy that supports decarbonization
efforts, economic growth, energy security, and improvements in quality of life.
CoolCo intends to leverage its industry relationships to make further accretive
acquisitions of in-service LNGCs, and to selectively pursue newbuild
opportunities. The retrofit of the sub-cooling units is an important step
towards achieving CoolCo's ESG goals.

HD Hyundai Global Service plans to incorporate reliquefaction units supplied by
Air Liquide, a French company specializing in this technology, and will be
responsible for the overall design, product supply, installation and
commissioning.

Mr. Ki-dong Lee, CEO of HD Hyundai Global Service, said, "We will contribute to
the optimized response to global warming in the energy transportation sector
through various ship energy-saving device retrofits, including the retrofit of
the reliquefaction unit."

Mr. Richard Tyrrell, CEO of CoolCo, added, "We are pleased to work with Hyundai
Global Service on this important initiative, which is a central component in our
LNGe conversion process. These reliquefaction units will provide our charterers
with valuable flexibility when it comes to managing the seasonal fluctuations in
LNG demand, in particular by supporting efficient travel at lower speeds, idling
and floating storage applications. In addition, these retrofits will enhance the
long-term value and competitiveness and reduce the environmental footprint of
what will become our LNGe vessels."

For further information, please contact: 
 
ir@coolcoltd.com 
 
Forward-looking Statements 
 
This press release contains forward-looking statements within the meaning of the
U.S. Private Securities Litigation Reform Act of 1995, including statements with
respect to CoolCo's agreement for a time  charter of a vessel, including the
terms of the charter and addition to backlog, statements with respect to the
increasing volume of LNG coming online and industry players securing tonnage,
expected benefits to CoolCo and other non-historical statements. 
Forward-looking statements are typically identified by words or phrases, such as
"about", "believe," "expect," "plan," "goal," "target," "strategy," and similar
expressions or future or conditional verbs such as "may," "will," "should,"
"would," and "could." These statements are based on current expectations,
estimates, assumptions and projections and you should not place undue reliance
on them. Forward-looking statements do not guarantee future performance and
involve risks and uncertainties. These risks and uncertainties include risks
relating to this contract, future industry conditions and other risks indicated
in the risk factors included in CoolCo's Annual Report on Form 20-F for the year
ended December 31, 2022 and other filings with the U.S. Securities and Exchange
Commission. These forward-looking statements are made only as of the date of
this document. We do not undertake to update or revise the forward-looking
statements, whether as a result of new information, future events or otherwise. 
 
 
This information is subject to the disclosure requirements in Regulation EU
596/2014 (MAR) article 19 number 3 and section 5-12 of the Norwegian Securities
Trading Act. 
 
Cool Company Ltd. 
Hamilton, Bermuda 
 
Questions should be directed to: 
c/o Cool Company Management Ltd - +44 207 659 1111 
 
Richard Tyrrell - Chief Executive Officer 	 
John Boots - Chief Financial Officer