SEA1: Initiation of share buy-back program

Sea1 Offshore Inc ("Sea1") has resolved to initiate a share buy-back program.
Under the program, Sea1 will repurchase up to 400 000 of its own shares for a
maximum consideration not exceeding NOK 15,000,000. Sea1 intends to use the
repurchased shares for the employee share purchase plan which was announced
today and for its long-term incentive program announced on 14 November 2024. The
buyback program will commence on 26.05.2025 and is planned to be finalized by
30.06.2024. Under the program, the minimum price that can be paid per share is
NOK 10 and the maximum price is NOK 100. Arctic Securities AS has been engaged
to carry out the share buy-back program on behalf of Sea1. Arctic Securities AS
will make its trading decisions independently of Sea1. The execution of any
repurchases will depend on market conditions, and Sea1 may resolve to terminate
the buy-back program before the threshold set out above is reached. 

The share buy-back program is carried out in accordance with the Market Abuse
Regulation (EU) No 596/2014 ("MAR") and Commission Delegated Regulation (EU) No
2016/1052 ("Safe Harbour Regulation"). This information is made public by Sea1
pursuant to the EU Market Abuse. 

Regulation and subject to the disclosure requirements pursuant to Section 5-12
of the Norwegian Securities Trading Act.