Stavanger, 29 April 2026 -- Moreld ASA today announces that Karsten
Gudmundset, Chief Executive Officer of its subsidiary Moreld Apply, has
informed the Board that he plans to step down following more than ten years as
CEO and a 40-year leadership career in the industry.

Gudmundset will continue in his role until December 2026 to ensure an orderly
transition.

A comprehensive search process to identify a successor is underway,
considering both internal and external candidates. Gudmundset will support the
transition and, if appropriate, remain available in an advisory capacity
following his departure.

Geir Austigard, Chief Executive Officer of Moreld, said:

"We thank Karsten Gudmundset for his significant contribution to the group.
Under his leadership, Moreld Apply has strengthened its market position and
delivered strong growth. We are grateful for his commitment in ensuring a
smooth transition."

The Board is confident in the strength of the leadership team at Moreld Apply
and will provide an update on the succession process in due course.

For more information, please contact:  
CEO Geir Austigard  
Telephone: +47 992 47 500  
Email: Geir.austigard@moreld.com  
  
CFO Trond Rosnes  
Telephone: +47 404 14 494  
Email: Trond.rosnes@moreld.com  (mailto:Trond.rosnes@moreld.com) 

About Moreld  
Moreld is an industrial multi-disciplinary engineering group offering
full-scope services across the offshore energy and marine industries including
subsea installations. The group comprises Moreld Apply, Ocean Installer and
Global Maritime. Moreld is a major player on the Norwegian continental shelf
with an international footprint. The Group is located in 19 countries, giving
access to all major offshore markets, and has over 2,800 employees and
contractors. For more information, please visit https://moreld.com/.
(https://moreld.com/)