5 September 2024. Reference is made to the stock exchange announcements
published by Ventura Offshore Holding Ltd. (the "Company") on 27 June 2024
regarding the contemplated private placement in the Company whereby it was also
announced that the board of directors of the Company (the "Board") had resolved
to establish an option program for the Company's senior management and key
employees.

Today the Board approved the award and allocation of 1,325,000 share options, at
a strike price of NOK 30 per share option, to the members of the Company's
management and key employees pursuant to the option program. 

For more information regarding allocation to primary insiders see the attached
mandatory notifications of trades.

This information is subject to the disclosure requirements pursuant to article
19 of the EU Market Abuse Regulation and section 5-12 of the Norwegian
Securities Trading Act.

For further queries, please contact: 
Gunnar W. Eliassen
Chairperson of the Company
+44 7469140012 
gunnar@snclondongroup.com

About Ventura Offshore Holding Ltd. 
Ventura Offshore Holding Ltd. is a deep water drilling contractor providing deep
water offshore drilling services to the oil and gas industry. The Company's core
activities are focused in the Brazilian offshore oil and gas market. The Company
owns and operates one drillship, DS Carolina, and two semisubmersible drilling
rigs, SSV Victoria and SSV Catarina, and manages one drillship, Zonda. The
Company is incorporated under the laws of Bermuda.