Cool Company Ltd. (“CoolCo” or the “Company”) Announces an Agreement in Principle Regarding a Potential Combination of CoolCo and EPS Ventures Ltd

Core Viewpoint - The Company and EPS Ventures Ltd are in advanced discussions for a potential acquisition of CoolCo, where EPS would acquire all outstanding shares not already held by them for $9.65 per common share [1] Group 1 - The acquisition will be executed through a cash merger involving a wholly owned subsidiary of EPS merging with CoolCo under Bermuda law [1]