NETI.US Exchange Offer

ENETI INC. (NETI.US) announced an offer to exchange outstanding shares of common stock of Eneti Inc. for American Depositary Shares (ADS), representing, in the aggregate, 3.409 shares of Cadeler, nominal value DKK 1 per share with each ADS representing four Cadeler Shares, (which means 1 share of ENETI INC. exchange for 0.85225 ADS of CADELER), subject to payment of cash compensation with respect to any fractional Cadeler ADSs, without interest and subject to reduction for any applicable withholding taxes. The terms of such Offer are set forth in, and subject to the terms and subject to the conditions and procedures set forth in the prospectus/offer to exchange, dated 07/11/2023, and in the related letter of transmittal. Participants must obtain the CADELER A/S prospectus dated 07/11/2023, for complete details of the offer. Participants should consult their tax advisor for complete details in reference to withholding taxes.

The terms of the offer are as follows:

Option (1): Take no action [Default Option]

Option (2): EXCHANGE SHARES - ONE SHARE OF ENETI INC. FOR 0.85225 ADS OF CADELER

The deadline to tender shares to the offer will be 12/12/2023@ 16:00 (HONG KONG TIME GMT+8).

Please fill in the following information and use the registered email address of Futu to send an email to cs@futuhk.com.

1. Account Number:
2. Name: (In Chinese or English)
3. Stock code: NETI.US
4. Options: (1) or (2)
5. Number of shares participating in corporate actions:

Note to applicants:
1. For shareholders holding less than 1 share of NETI.US, they cannot participate in related corporate actions.
2. Option (1) is the default option. We will help clients to choose option (1) if have not received clients’ emails.
3. Once the relevant application is submitted, the stocks participating in the company's actions cannot be traded and the application cannot be withdrawn.
4. This corporate action does not accept additional applications, the maximum number of applications that a client can apply for does not exceed the number of eligible shares it holds.
5. The pending orders and unsettled shares will not be accepted for the time being.
6. Please confirm that the account funds are sufficient to pay the relevant fees of this corporate action. Otherwise, we will not bear any responsibility for the failure of your application.
7. If there is any update, all the information released by the listed company shall prevail.

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