The Company and Braemar Shipping Services Plc ("Braemar") entered into a share
purchase agreement regarding the Company's purchase of the entire issued share
capital of Braemar Technical Services Holdings Limited on 13 May 2019, with
certain later amendments (the "SPA"). As part of the consideration under the
SPA, the Company issued warrants at its Annual General Meeting held 11 June
2019, giving Braemar the right to subscribe for new shares in the Company
subject to certain exercise conditions. Certain amendments to the exercise
conditions were approved at the Company's Extraordinary General Meeting held on
14 December 2020. In line with the exercise conditions, Braemar has exercised 1
million warrants, so that the remaining amount of warrants is 0. The 1 million
new shares subscribed for at a subscription price of NOK 0.10 per share, will be
submitted for registration in the Norwegian Register of Business Enterprises as
soon as possible. 

For further information, please contact:
Investors and financial media;
Dean Zuzic, CFO, AqualisBraemar LOC ASA
Telephone: +47 414 33 560

About AqualisBraemar LOC ASA:
AqualisBraemar LOC ASA (OSE: AQUA) offers independent marine, engineering and
adjusting consultancy to the global renewables, maritime, and oil and gas
sectors. The group has offices in 38 countries worldwide. AqualisBraemar LOC ASA
operates under seven brands: AqualisBraemar LOC, OWC, East Point Geo, Innosea,
Longitude, JLA and ABL Yacht Services.

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