Block sale of existing shares in Eneti Inc. (NYSE: NETI) completed

Japan Offshore Wind Power LLC, which is ultimately controlled by Marubeni Corporation (the “Seller”), has retained Pareto Securities AS (the "Manager") to execute a block sale of existing shares in Eneti Inc. (the "Company") through a private placement (the “Offering”).

The Company is a leading provider of installation and maintenance vessels to the offshore wind sector. The Company is listed on the New York Stock Exchange (“NYSE”) under the ticker “NETI” with a market capitalization of approximately USD 370 million (based on the closing market price on 23 March 2023).

The Seller has, as of this announcement, successfully sold 3,257,958 shares in the Company (equal to approximately 8.5% of the Company’s outstanding shares) at USD 8.90 per share. Following the Offering, the Seller holds no shares in the Company.

Scorpio Holdings Limited, the largest shareholder in the Company owning approximately 26.2% of the Company’s outstanding shares, has been allocated 1,000,000 shares in the Offering.

The notification of allocation in the Offering is expected to be communicated on or about 24 March 2023 (trade date) before the opening bell on NYSE. The settlement in the Offering is expected to take place on or about 28 March 2023 (settlement date) on a delivery versus payment basis (DVP T+2).