KNOT Offshore Partners LP (NYSE:KNOP) ("The Partnership") announced today that discussions regarding the unsolicited non-binding proposal received by the Partnership on October 31, 2025 from Knutsen NYK Offshore Tankers AS ("KNOT"), pursuant to which KNOT proposed to acquire through a wholly-owned subsidiary all publicly held common units of the Partnership in exchange for cash (the "KNOT Offer"), have been terminated.

The Conflicts Committee of the Partnership's Board, which is comprised of only non-KNOT-affiliated directors, retained independent financial and legal advisors to assist it in evaluating the KNOT Offer.