John Fredriksen - Dec 2, 2021 Form 3 Insider Report for ST Energy Transition I Ltd. (STET)

Role: Director
Signature: /s/ John Fredriksen
Stock symbol: STET
Transactions as of: Dec 2, 2021
Transactions value $: $0
Form type: 3
Date filed: 12/2/2021, 11:18 AM

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
holding	STET	Class B ordinary shares							Dec 2, 2021	Class A ordinary shares	10K		Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	As described in the issuer's registration statement on Form S-1 (File No. 333-261056), as amended, under the heading "Description of Securities-Alignment Shares", the Class B ordinary shares of the issuer will convert into Class A ordinary shares of the issuer, pursuant to the performance of publicly traded Class A ordinary shares after the consummation of the issuer's initial business combination.
F2	This Form 3 excludes the 1,190,000 Class B ordinary shares of the issuer held by Sloane Square Capital Holdings Ltd. (the "Sponsor"). Oak Trustees (Jersey) Limited is the trustee of a trust established by the reporting person for the benefit of his immediate family. The trust is the sole shareholder of Transition Energy Holdings Ltd. which is in turn the sole shareholder of the Sponsor, and therefore the trust is the indirect owner of the Sponsor. As such, Oak Trustees (Jersey) Limited may be deemed a beneficial owner of the securities held by the Sponsor. The reporting person has no pecuniary interest in the securities of the Issuer beneficially owned by the Sponsor.

Content

As described in the issuer's registration statement on Form S-1 (File No. 333-261056), as amended, under the heading "Description of Securities-Alignment Shares", the Class B ordinary shares of the issuer will convert into Class A ordinary shares of the issuer, pursuant to the performance of publicly traded Class A ordinary shares after the consummation of the issuer's initial business combination.

This Form 3 excludes the 1,190,000 Class B ordinary shares of the issuer held by Sloane Square Capital Holdings Ltd. (the "Sponsor"). Oak Trustees (Jersey) Limited is the trustee of a trust established by the reporting person for the benefit of his immediate family. The trust is the sole shareholder of Transition Energy Holdings Ltd. which is in turn the sole shareholder of the Sponsor, and therefore the trust is the indirect owner of the Sponsor. As such, Oak Trustees (Jersey) Limited may be deemed a beneficial owner of the securities held by the Sponsor. The reporting person has no pecuniary interest in the securities of the Issuer beneficially owned by the Sponsor.