Golden Vitality Offshore Companies: Name for the Annual Common Assembly – Utility for an influence of legal professional for a capital enhance

Ålesund, March 11, 2021: Please refer to the announcement by Golden Energy Offshore Services AS (the “Company”) and the request for a general meeting to vote on a power of attorney for the Board of Directors to increase the company’s share capital. The board of directors has received input from a major shareholder that he will propose a different power of attorney to the general meeting than the one proposed by the board of directors. The proposal is as follows: 1. The board of directors of Golden Energy Offshore Services AS (the “Company”) is hereby authorized to increase the Company’s share capital by an amount of up to NOK 22,836,881. 2. This power of attorney is valid for a period of one (1) year from the date of the resolution of the general meeting to grant the power of attorney. 3. Shareholder preferential rights under the Norwegian Limited Liability Companies Act (the “Act”) in Section 10-4 may vary at the discretion of the Directors of the Company. 4. The power of attorney also includes capital increases through contributions in kind, see Section 10-2 of the Act, but in this case limited to the conversion of debts and obligations in connection with the business of the company and its subsidiaries (collectively the “Group”) and / or financing the group and its current fleet of ships. The proposal differs from the Board’s proposal for the term of office (from two years to one year) and the limitations on the ability to provide in-kind contributions. The Board of Directors has examined the proposal and decided to support the alternative proposal. The shareholders are therefore invited to vote in favor of this alternative proposal. Attached is an updated proxy that reflects the alternatives. So please use this document or otherwise indicate which proposal was appropriately selected (by notation on the original proxy, in the cover email, or another). Further information can be found in the summons to the Annual General Meeting attached to this announcement or contact: Per Ivar Fagervoll [email protected] mobile +44 97428884

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