Repayment of Mezzanine-loan from Ambolt Mezzanine Sub-Fund

Reference is made to the company’s Mezzanine financing arrangement with Ambolt
Mezzanine Sub-Fund.

The company has repaid MNOK 26 (including interest accumulated during the first
quarter 2021). The remaining principal loan amount after this payment is MNOK
14,2. The company has extended the maturity for the remaining loan (MNOK 14,2)
for one year, with maturity on the 14th of May 2022.

The financing arrangement with Ambolt Mezzanine Sub-Fund enables the company
flexible top financing for certain development projects, which is an important
part of our financial toolbox to ensure continued growth in our project pipeline
without raising capital from the shareholders.

For more information, please contact:

Lars Christian Berger
CEO
phone: +47 930 94 319
Lcb@balticsea.no