Dividends

Holders of ordinary shares are entitled to receive dividend and distribution payments, pro rata based on the number of ordinary shares held, when, as and if declared by the Board. Under CoolCo’s variable dividend policy, the Company intends to allocate its free cash flow to equity primarily to the payment of a quarterly dividend, after allocations to drydocking and capital expenditures related to improving vessel efficiency. The declaration and payment of dividends are at all times subject to the sole discretion of the Company’s Board of Directors, taking into consideration, among other factors, including but not limited to the freight market outlook, the Company’s balance sheet, market cyclicality, distributable reserves, liquidity requirements and macroeconomic conditions.

From May 28, 2024, the standard settlement cycle for transactions executed in securities traded on the New York Stock Exchange (“NYSE”) will be shortened from T+2 to T+1 (T= trading date), while the Oslo Stock Exchange (“OSE”) will continue to settle its trades on a T+2 basis. As a result, there will be different dates between the two exchanges, as set out in the table below. During these interim days, investors may be restricted to move shares between NYSE and OSE.

Note to shareholders with shares registered in Euronext VPS:

Due to the implementation of the Central Securities Depository Regulation (CSDR) in Norway, the payment date to shares registered in Euronext VPS will occur on or about (3) days after the payable date listed above.