Update on timeline

Reference is made to the press release on 8 November 2021 where Octopus Bidco AS (the “Offeror”), a company indirectly wholly owned by funds advised by Kohlberg Kravis Roberts & Co. L.P. and its affiliates ("KKR"), announced that the closing conditions relating to minimum acceptance, regulatory approvals, and change of control consents have been fulfilled. The Offeror's settlement of the offer will take place on or before 3 December 2021 and the purchase option for the FPSO Dhirubhai-1 will expire on 9 November 2021.

Company contact:

Eirik Eide (CFO), Tel +47 24 13 01 91

Investor Relations contact:

Marius Magelie (SVP Finance & Investor Relations), Tel +47 24 13 01 82

Company information:

Ocean Yield ASA is a ship owning company with investments in vessels on long-term charters. The company has a significant contract backlog that offers visibility with respect to future earnings.