Completion of previously announced Master Sale Agreement on November 2, 2022

We refer to the press release dated November 2, 2022, when Cool Company Ltd. ("CoolCo”) announced a transaction to acquire four special purpose companies with contracted LNG carriers, the 2021 built Kool Orca, the 2020 built Kool Firn, and 2015 built Kool Boreas and Kool Baltic, from Quantum Crude Tankers Ltd ("QCT”), an affiliate of EPS Ventures Ltd ("EPS”).

CoolCo announces today that it has completed the acquisition for an aggregate purchase price of approximately $660 million. CoolCo financed the purchase price with the $170 million primary element of a follow-on equity offering dated November 2, 2022 and assumed debt.

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act