VENTURA OFFSHORE HOLDING LTD.: TRANSFER OF SHARES AND EXERCISE OF WARRANTS BY PRIMARY INSIDER AND CLOSE ASSOCIATE

Ventura Offshore Holding Ltd. (the "Company") announces the following transactions involving primary insider Gunnar W. Eliassen and his wholly-owned company, SNC Winther Holdings Limited ("SNC"): - Mr. Eliassen's exercise of 566,667 warrants in the Company; - SNC's exercise of 91,071 warrants in the Company; and - the transfer of all shares held by Mr. Eliassen and SNC in the Company (1,407,739 shares following the exercise of the warrants) to a pledged account owned by Mr. Eliassen. Mr. Eliassen has 288,333 warrants and SNC has 45,536 warrants in the Company following the transactions. This announcement is published pursuant to article 19 of the EU Market Abuse Regulation and section 5-12 of the Norwegian Securities Trading Act. For further queries, please contact: Gunnar W. Eliassen Chairperson of the Company +44 7469140012 gunnar@snclondongroup.com About Ventura Offshore Holding Ltd. Ventura Offshore Holding Ltd. is a deep water drilling contractor providing deep water offshore drilling services to the oil and gas industry. The Company's core activities are focused in the Brazilian offshore oil and gas market. The Company owns and operates one drillship, DS Carolina, and two semisubmersible drilling rigs, SSV Victoria and SSV Catarina, and manages one drillship, Zonda. The Company is incorporated under the laws of Bermuda.