NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN OR INTO THE UNITED STATES, THE UNITED KINGDOM, AUSTRALIA, CANADA,
HONG KONG, JAPAN OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR
DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER
OF ANY OF THE SECURITIES DESCRIBED HEREIN.

Ocean Sun AS (the "Company" or "Ocean Sun") today, 22 May 2026, announces the
contemplated launch of a share offering (the "Offering") of between 30,000.000
and 40,000,000 new shares (the "Offer Shares") in the Company, each with a
nominal value of NOK 0.01, at a subscription price of NOK 0.50 per Offer Share.
The Offering will, if completed, raise gross proceeds of approximately between
NOK 15,000,000 million and NOK 20,000,000 million.

If the Offering is successfully completed, the Company expects that the
proceeds, along with existing cash, will finance operations into the first half
of 2027. The Company currently anticipates that it will use existing cash and
the net proceeds from the Offering, inter alia, for (i) funding execution of
active resort pipeline, (ii) expanding delivery operations to match project
volume and (iii) completing and certifying the next generation FPV platform to
open a broader share of the established utility market.

The Company will submit a national prospectus dated 22 May 2026 (the
"Prospectus") regarding the Offering for registration with the Norwegian
Register of Business Enterprises ("NRBE") in accordance with section 7-8 of the
Norwegian Securities Trading Act. Neither the Financial Supervisory Authority of
Norway nor any other public authority has carried out any form of review,
control, or approval of the Prospectus. The Prospectus does not constitute an
EEA prospectus.

The Prospectus is expected to be published on 26 May 2026, and will be made
available electronically on the Company's website (https://oceansun.no/) once
registration with the NRBE has been completed.

The Offering:

The Offering will be made based on the Prospectus.

The Offering does not constitute a rights issue as per Section 10-4 and Section
10-5 of the Norwegian Private Limited Liability Companies Act (the "Companies
Act"). The Offering will be directed towards (i) the Company's shareholders as
of 27 May 2026 as registered in the Norwegian Central Securities Depository (the
"VPS") two trading days thereafter (on 29 May 2026) who are not resident in a
jurisdiction where such offer would be illegal or would (excluding Norway)
require the issuance of a prospectus, registration, or other similar action (the
"Shareholders") and (ii) selected potential investors at the Company's board of
directors' sole discretion (the "Potential Investors"). The Potential Investors
will only be allotted Offer Shares in the event that the Offering is not fully
subscribed by the Shareholders.

The application period for the Offer Shares commences, subject to publication of
the Prospectus, on 27 May 2026 at 09:00 (CEST) and expires on or about 10 June
2026 at 16:30 hours (CEST) (the "Application Period"), subject to any
extensions. No subscription rights are issued in connection with Offering, and
the Shareholders and the Potential Investors are not to be considered as holders
of subscription rights or similar rights to acquire Offer Shares. Instructions
regarding the application procedure will be available in the Prospectus.

The Company expects to call for an extraordinary general meeting to be held on
11 June 2026, whereby the general meeting of the Company is expected to resolve
to increase the share capital required to complete the Offering.

Notifications of allocation of Offer Shares and payment instructions are
expected to be distributed on or about 12 June 2026 provided that the conditions
for the Offering are fulfilled. Payment for Offer Shares is expected to fall due
on 15 June 2026.

The Offer Shares will, when issued, be registered in the VPS in book-entry form
and are expected to be delivered to the applicant's VPS account during 19 June
2026. It is expected that the Offer Shares will be admitted to trading on
Euronext Growth Oslo in connection with being delivered to the applicant's VPS
account. The Offer Shares will have equal rights and rank pari passu with the
Company's existing Shares.

Completion of the Offering is conditional upon (i) all necessary corporate
resolutions being validly made by the Company, including without limitation, the
general meeting of the Company resolving to issue the Offer Shares, and (ii) the
payment of the subscription amount by the applicants.

The Company reserves the right, at any time and for any reason, to cancel and/or
modify the terms of the Offering. The Company will not be liable for any losses
incurred by applicants if the Offering is cancelled, irrespective of the reason
for such cancellation.

Advisors:

Advokatfirmaet Thommessen AS is acting as legal advisor to the Company.

Fearnley Securities AS is acting as financial advisor to the Company.


Disclosure regulation:

This information is subject to a duty of disclosure pursuant to the Company's
continuing obligations as a company listed on Euronext Growth. This information
was issued as inside information pursuant to the EU Market Abuse Regulation, and
was published by Karl Lawenius, CFO at Ocean Sun AS on the date and time
provided.


For more information, please contact:

Kristian Tørvold, CEO of Ocean Sun, +47 97088847

Karl Lawenius, CFO of Ocean Sun, +47 45633881 


About Ocean Sun:

By combining Norwegian maritime expertise and knowledge within photovoltaics,
Ocean Sun as developed an innovation that offers a bold solution to our global
energy needs. The patented technology is based on solar modules mounted on
hydro-elastic membranes and offers cost and performance benefits not seen in any
other floating PV system today. With offices in Oslo, Singapore and Shanghai,
Ocean Sun is embarking on its vision to be the world's leading technology
provider of floating solar.


Important information:

This announcement is not and does not form a part of any offer of securities for
sale, or a solicitation of an offer to purchase, any securities of the Company
in the United States or any other jurisdiction. Copies of this announcement are
not being made and may not be distributed or sent into any jurisdiction in which
such distribution would be unlawful or would require registration or other
measures.

The securities referred to in this announcement have not been and will not be
registered under the U.S. Securities Act of 1933, as amended (the "Securities
Act"), and accordingly may not be offered or sold in the United States absent
registration or an applicable exemption from the registration requirements of
the Securities Act and in accordance with applicable U.S. state securities laws.
The Company does not intend to register any part of the Offering in the United
States or to conduct a public offering of securities in the United States. Any
sale in the United States of the securities mentioned herein will be made solely
to "qualified institutional buyers" (QIBs) as defined in Rule 144A under the
Securities Act, pursuant to an exemption from the registration requirements
under the Securities Act, as well as to major U.S. institutional investors
pursuant to an exemption under SEC Rule 15a-6 to the United States Exchange Act
of 1934, as amended.

In any EEA member state, this communication is only addressed to and is only
directed at qualified investors in that member state within the meaning of the
EU Prospectus Regulation, i.e., only to investors who can receive any offering
of securities referred to in this announcement without an approved prospectus in
such EEA member state. "EU Prospectus Regulation" means Regulation (EU)
2017/1129, as amended (together with any applicable implementing measures in any
EEA member state).

This communication is only being distributed to and is only directed at (i)
persons in the United Kingdom, who have professional experience, knowledge and
expertise in matters relating to investments and qualify as "investment
professionals" for the purposes of article 19(5) of the Financial Services and
Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order"),
(ii) persons who are outside the United Kingdom, and (iii) any other person to
whom it can otherwise be lawfully distributed (all such persons being referred
to as "relevant persons") and any investment or investment activity to which
this communication relates is available only to and will be engaged in only with
relevant persons, and any person other than a relevant person should not rely on
it. The Offer Shares are being offered only in circumstances falling within the
circumstances set out in Part 1 of Schedule 1 to The Public Offers and
Admissions to Trading Regulations 2024 (the "POATRs") (including, amongst other
circumstances, the fact that the Offer Shares which are the subject of the
Offering are offered subject to a minimum subscription amount per UK applicant
equivalent to at least GBP 100,000). Consequently, the Offer Shares may be
offered only to "qualified investors" as defined in paragraph 15 of Schedule 1
to the POATRs, or otherwise to limited numbers of UK investors, or only where
the minimum consideration required for the securities offered is GBP 100,000.
Persons distributing this communication must satisfy themselves that it is
lawful to do so.

Matters discussed in this announcement may constitute forward-looking statements
concerning future events, including possible issuance of equity securities of
the Company. Forward-looking statements are statements that are not historical
facts and may be identified by words such as "believe", "expect", "anticipate",
"strategy", "intends", "estimate", "will", "may", "continue", "should" and
similar expressions. The forward-looking statements in this communication are
based upon various assumptions, many of which are based, in turn, upon further
assumptions. Although the Company believes that these assumptions were
reasonable when made, these assumptions are inherently subject to significant
known and unknown risks, uncertainties, contingencies and other important
factors which are difficult or impossible to predict and are beyond its control.
Actual events may differ significantly from any anticipated development due to a
number of factors, including, but not limited to, changes in investment levels
and need for the group's services, changes in the general economic, political,
and market conditions in the markets in which the group operates, and changes in
laws and regulations. Such risks, uncertainties, contingencies, and other
important factors include the possibility that the Company will determine not
to, or be unable to, issue any equity securities, and could cause actual events
to differ materially from the expectations expressed or implied in this
communication by such forward-looking statements. The Company does not make any
guarantees that the assumptions underlying the forward-looking statements in
this communication are free from errors.

The information, opinions and forward-looking statements contained in this
communication speak only as at its date and are subject to change without
notice. Each of the Company, the Managers, and their respective affiliates
expressly disclaims any obligation or undertaking to update, review, or revise
any statement contained in this communication whether as a result of new
information, future developments or otherwise, unless required by laws or
regulations.

This announcement is for information purposes only and is not to be relied upon
in substitution for the exercise of independent judgment. It is not intended as
investment advice and under no circumstances is it to be used or considered as
an offer to sell, or a solicitation of an offer to buy any securities or a
recommendation to buy or sell any securities of the Company.

Certain figures contained in this announcement have been subject to rounding
adjustments. Accordingly, in certain instances, the sum or percentage change of
the numbers contained in this announcement may not conform exactly with the
total figure given.

The distribution of this announcement and other information may be restricted by
law in certain jurisdictions. Persons into whose possession this announcement or
such other information should come are required to inform themselves about and
to observe any such restrictions. Any failure to comply with these restrictions
may constitute a violation of the securities laws of any such jurisdiction.
Specifically, neither this announcement nor the information contained herein is
for publication, distribution or release, in whole or in part, directly or
indirectly, in or into or from the United States (including its territories and
possessions, any state of the United States and the District of Columbia),
Australia, Canada, Hong Kong, Japan or any other jurisdiction where to do so
would constitute a violation of the relevant laws of such jurisdiction.
ase\, in whole or in part\, directly or\
indirectly\, in or into or from the United States (including its territories and\
possessions\, any state of the United States and the District of Columbia)\,\
Australia\, Canada\, Hong Kong\, Japan or any other jurisdiction where to do so\
would constitute a violation of the relevant laws of such jurisdiction.\