OCEAN: Captured AS enters into agreement to sell its shares in its subsidiary Ocean Tunicell AS to Lifecare ASA

(Verdal, August 31, 2026) Ocean GeoLoop ASAŽs (Ocean GeoLoop, OSE: OGL)
subsidiary Captured AS has entered into a binding Share Purchase Agreement to
sell all its shares in the subsidiary Ocean Tunicell AS to Lifecare ASA.

Reference is made to the company's announcement of 19 June 2026. The company has
entered into the agreement referred to in the announcement of 19 June 2026 with
Lifecare ASA.

Captured AS receives a consideration for its shares in Ocean Tunicell AS of
approximately NOK 5.23 million. Under the agreement, Lifecare has discretion to
settle the consideration in cash, newly issued Lifecare shares or a combination
thereof. Lifecare has stated an intention to settle the closing consideration
issuing new shares in Lifecare ASA, and consequently the transaction will have
limited cash effect.

The number of Lifecare shares issued as closing consideration will be determined
based on the volume weighted average price ("VWAP") of the Lifecare share over
the 15 trading days immediately preceding the relevant valuation date.

Shares issued as closing consideration will be subject to a nine-month lock-up
period.

In addition to the initial consideration, the agreement provides for a
contingent consideration. The contingent consideration is related to a defined
clinical milestone linked to successful demonstration of implant and use in
humans without serious safety concerns. The clinical milestone must be proved
within three years. In such case, Captured AS will become entitled to an
additional contingent consideration of approximately NOK 5.23 million. Any
contingent consideration may, at Lifecare's discretion, be settled in cash,
newly issued Lifecare shares or a combination thereof.

Completion of the transaction is subject to the closing conditions set out in
the share purchase agreement, including certain third-party consents and final
approval by the Board of Directors of Lifecare ASA. Closing is expected to take
place promptly following satisfaction of the closing conditions.

ENDS

For further information, please contact: Kristian Lundkvist, Chairman of the
Board, Captured AS and Ocean GeoLoop ASA, cell: +47 977 77 177

About Ocean GeoLoop | www.oceangeoloop.com

Ocean GeoLoop ASA uses nature's own way to solve the challenges of our time in a
circular way. The group is organized around COOL, which develops
energy-efficient cooling solutions for AI data centers and industrial
applications, and Energi Teknikk AS, a full-service provider of equipment and
services for small hydropower plants. CAPTURED, which developed the GeoLoop
carbon capture technology, is being scaled down. Ocean GeoLoop is listed on
Euronext Growth Oslo under the ticker OCEAN.

Visit Ocean GeoLoop on LinkedIn/OceanGeoLoop.

This information is considered to include inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 of the Norwegian Securities Trading Act. This stock exchange
announcement was published by Viggo Iversen, CEO, at 31 August 2026, 07:00.
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announcement was published by Viggo Iversen\, CEO\, at 31 August 2026\, 07:00.\