Lysaker, 15 December 2022

The Board has conducted a thorough review of the strategic position of Oceanteam
ASA. In the quest to maximize the value of the Company the Board is pursuing
several alternatives. We are in discussions and negotiations with several
investment banks and other potential partners evaluating a range of
propositions. The outcome of this strategic review is that the Board is even
more certain than before that we will seek innovative and green business
opportunities.

- We are looking for partners that have a profitable business model with focus
on environmental improvements in their ESG approach, says Keesjan Cordia, Chair
of the Board in Oceanteam ASA.

During the strategic review it became evident to the Board that the current
Solutions business environment is no longer a predictable source of stable
income for the Company. The Board has thus decided, as a strategic move, to
divest the Solutions segment in order not to be restrained by it when engaging
with other, more resilient, stable, and growing prospective investments. 

- We are pleased to announce that we have signed a Share Purchase Agreement for
the sale of the entire Solutions segment with a strategic buyer better suited
for this business, says Cordia.

The transaction value is 5.125 mio EUR. The valuation has been verified by an
independent business valuator as Fair Value. Completion of the transaction is
conditional on approval by an extraordinary general meeting of the Company to be
held primo January 2023 and satisfaction of certain other customary conditions.

Post transaction, the Company will be relieved of its last loss-making business
and will have sufficient cash funds to execute on new ongoing initiatives in
line with earlier announced principles of stable but growing cashflow, thereby
providing value to the shareholders of the Company. 

For further information about Oceanteam ASA please visit www.oceanteam.no or
contact:
Mr. Hans Reinigert, Interim Chief Executive Officer, telephone +47 55 10 82 40

This information is considered to be 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. The stock exchange
announcement was published by Ben de Jong, CFO, Oceanteam ASA.