Publication of Annual Report 2025, audited interim balance sheet and Proposed Capital Reduction with a Cash Distribution

Ålesund, 19 May 2026:

Golden Energy Offshore Services ASA ("GEOS" or the "Company"), has today published the Annual Report for 2025. The reports will be made available at the Company's website www.geoff.no.

Further, the board of directors is proposing a capital reduction by way of reducing the par value of each share from NOK 8.00 to NOK 1.00, with (i) a cash distribution per share of NOK 4 and (ii) the remaining reduction amount to be transferred to “other paid-in equity” in the Company’s books. The rationale for taking down the share capital more than the cash distribution is that there is no commercial reason for the current level of share capital in the Company, and a further reduction will give the Company more flexibility going forward for possible future distributions or other opportunities. As basis for the proposed capital reduction, the Company has prepared an audited interim balance sheet per 30 April 2026 attached to this notice. The proposed capital reduction and cash distribution is subject to approval by the Company’s shareholders, including approval of the audited interim balance sheet, and expiry of a statutory creditor notice period for the capital reduction. The proposal will be included on the agenda for the Company’s annual general meeting expected to be held on or about 3 June 2026.

Subject to relevant shareholder approvals, the cash distribution is expected to be paid following expiry of the statutory creditor notice period for the capital reduction and registration of the capital reduction with the Norwegian Register of Business Enterprises. The Company will publish key information relating to the proposed distribution, including ex-date and expected time of payment, in advance of the registration of the capital reduction, expected during July 2026. 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.

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For further information, please contact:

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