Cool Company Ltd. – Fifth and sixth completion of vessel acquisitions

Cool Company Ltd. ("CoolCo" or the "Company") is pleased to announce that the fifth and sixth of the eight acquisitions of modern LNG tankers from Golar LNG Limited ("Golar"), and the full settlement thereof pursuant to the acquisition agreement between the Company and Golar, were completed on 4 April 2022.

These completions covered all of the shares in the following of Golar's subsidiaries, being the owners of the following LNG tankers:

• Golar Hull M2047 Corp. (the owner of "GOLAR SNOW").
• Golar LNG NB10 Corporation (the owner of "GOLAR GLACIER").

The total purchase price for the shares in these subsidiaries was financed by a drawing under CoolCo's senior secured bank facility, a cash payment to Golar and the subscription by Golar of 3,125,000 new common shares of USD 1.00 par value in CoolCo at a subscription price of USD 10.00. These shares were issued today.

Hence, there are now 36,885,000 shares in issue in CoolCo, each of which represents one vote in the Company. In total, the new share capital of the Company is USD 36,885,000. The shares in the Company are fully paid and validly issued under Bermuda law.

Contact persons:

Karl Fredrik Staubo, Interim CEO

Email: karl.staubo@golar.com

Phone: +47 23 11 41 20

John Boots, CFO

Email: john.boots@coolcoltd.com

Phone: +44 20 7063 7900

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

Attachment

• Cool Company Ltd. - FIfth and Sixth Completion Of Vessel Acquisitions