Hamilton, Bermuda - December 1, 2023

Long-Term Incentive Plan - 2022 - first tranche vesting 

In accordance with its Long-Term Incentive Program (the "LTIP") for employees,
management, and board members of Cool Company Ltd. (the "Company" or "CoolCo")
and its affiliate, the first tranche of the restricted stock units ("RSUs")
awarded in 2022 vest on November 30, 2023. The Company anticipates that the
shares underlying the vested RSUs will be issued to grantees on or after
December 7, 2023. At such time, the number of issued shares in the Company will
increase by 14,381 shares to a total number of issued shares of 53,702,843, with
each share having a nominal value of USD 1.00.

As part of the LTIP, RSUs for the following primary insiders of the Company (the
"Primary Insiders") will vest on November 30, 2023, resulting in the following
share issuances: 

1.	Richard Tyrrell: 1,898 shares
2.	Johannes Boots: 979 shares

Full details of the LTIP are available in the Press Release issued on November
25, 2022, or in the Company's 2022 Annual Report on Form 20-F as filed with the
SEC.

LTIP - 2023

Additionally, the Company's board of directors (the "Board") has resolved, in
accordance with the LTIP, to authorize options ("Options") and RSUs for 2023, as
further detailed below. 

Pursuant to the LTIP, the Board has resolved to grant a total number of 74,246
Options and 102,107 RSUs to employees, management and board members of the
Company (equivalent to approximately 0.14% and 0.19% of the Company's share
capital, respectively). 

Each Option, when exercised, carries the right to acquire one share in CoolCo,
giving the right to acquire up to an aggregate 74,246 shares. The exercise price
for the Options is USD 12.47 per share. The Options will vest over a period of 3
years, in equal annual installments, on each of November 29, 2024, November 30,
2025, and November 30, 2026, and will lapse 3 years from the date of their grant
if not exercised.  

Pursuant to the LTIP, RSUs vest into shares of the Company.  The RSUs will vest
equally in four installments on each of November 29, 2024, November 30, 2025,
November 30, 2026 and November 30, 2027.

Share Purchase 

Richard Tyrrell, CEO and Director of the Company, has on December 1, 2023
acquired 2,030 shares in the Company at a price of USD 12.49 per share. 

Primary Insiders 

The following Primary Insiders have been granted Options and RSUs, and purchased
shares as per the below:

o	Sami Iskander (Director) has been granted 37,123 Options. Following the grant,
Sami Iskander holds 37,123 Options in CoolCo.
o	Joanna Huipei Zhou (Director) has been granted 37,123 Options. Following the
grant, Joanna Huipei Zhou holds 510 shares and 37,123 Options in CoolCo.
o	Richard Tyrrell (CEO and Director) has been granted 6,062 RSUs. Following the
vesting of abovementioned RSUs on November 30, 2023, the new RSU grant and the
share purchase, Richard Tyrrell holds 6,313 shares, 11,755 RSUs, and 371,227
Options in CoolCo.
o	Johannes Boots (CFO) has been granted 3,278 RSUs. Following the vesting of
abovementioned RSUs on November 30, 2023 and the new RSU grant, Johannes Boots
holds 589 shares, 6,215 RSUs, and 123,742 Options in CoolCo.

Please see the enclosed forms for further details about the transactions.

ABOUT COOLCO

CoolCo is an LNG Carrier pure play with a balanced portfolio of short and
longer-term charters, the cash flows from which form the basis of the Company's
quarterly dividend for common shareholders. In addition to the built-in and
funded growth from two newbuilds scheduled to deliver in the second half of
2024, CoolCo's strategy includes ongoing assessment of opportunities for vessel
acquisitions and potential consolidation in a fragmented market segment. Through
its in-house vessel management platform, CoolCo manages and operates its LNG
transportation and infrastructure assets for a range of the world's leading
companies in addition to providing such services to third parties. CoolCo
benefits from the scale and stature of Eastern Pacific Shipping and its
affiliates, encompassing CoolCo's largest shareholder and the owner of one of
the world's largest independent shipping fleets, which strengthen the Company's
strategic position with regard to shipyards, financial institutions, and access
to dealflow. CoolCo supports the world's decarbonization and energy security
needs and has stated its intention to reduce its emissions by 10-15% through its
LNGe upgrade program, as part of a fleet-wide improvement target of 35% between
2019 and 2030.

Additional information about CoolCo can be found at www.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 delivery dates of newbuilds, our strategy, our intention to reduce
carbon emissions and any expected performance of our LNGe upgrade program,
emissions reduction and improvement targets, statements with respect to RSUs and
options, including vesting dates 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. There are important factors that could cause
our actual results, level of activity, performance, liquidity or achievements to
differ materially from the ones expressed or implied by these forward-looking
statements. These risks and uncertainties include risks relating to 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 pursuant to Section
5-12 the Norwegian Securities Trading Act.

For further information, please contact:

c/o Cool Company Ltd - +44 207 659 1111 / ir@coolcoltd.com 

Richard Tyrrell - Chief Executive Officer
John Boots - Chief Financial Officer

Source: Cool Company Ltd.