GEOS: Completion of Capital Reduction with Cash Distribution

Ålesund, 20 July 2026:  

Golden Energy Offshore Services ASA ("GEOS" or the "Company"), refers to the
approval by the Company's annual general meeting on 3 June 2026 of a capital
reduction by way of reducing the par value of each of the Company's shares from
NOK 8.00 to NOK 1.00, with (i) a cash distribution per share of NOK 4 (the "Cash
Distribution") and (ii) the remaining reduction amount to be transferred to
"other paid-in equity" in the Company's books.

The statutory creditor notice period for the capital reduction expired on 17
July 2026, and the Company accordingly expects to complete registration of the
share capital reduction with the Norwegian Register of Business Enterprises
after close of trading on 22 July 2026.

The Company will publish key information relating to the Cash Distribution,
including ex-date and expected time of payment in a separate stock exchange
notice today. For Norwegian tax purposes, the distribution will be regarded as
repayment of paid-in capital.
 
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

                                                    ***

For further information, please contact:

Per Ivar Fagervoll
CEO
pif@geoff.no
Mobile: +47 974 28 884 
pif@geoff.no\
Mobile: +47 974 28 884 \