Integrated Wind Solutions ASA

Earnings Release • Oct 25, 2024

New charter contracts and financial update

New charter contracts and financial update

Integrated Wind Solutions ASA (“IWS”), through its 74.62% owned subsidiary IWS Fleet AS (“IWS Fleet”), is pleased to announce the signing of new charter contracts for its Commissioning Service Operation Vessels (“CSOVs”) IWS Windwalker and IWS Seawalker.

On 22 October, IWS Windwalker commenced a new charter contract with Siemens Gamesa Renewable Energy. The charter has been agreed on the terms in the frame agreement announced in February this year. With this charter, the work performed by IWS Fleet under the frame agreement has started earlier than its intended commencement date.

On 30 October, the naming ceremony of IWS Seawalker will take place in the Port of Hanstholm, Denmark. IWS Seawalker will commence its first charter contract with an existing client in the first week of November.

Financial update:

IWS will publish additional details in its Q3 2024 Financial Report on 26 November. The report will have record-high quarterly revenues driven by

1. IWS Fleet: Achieving high commercial uptime and strong fleet operability

2. IWS Services: Record revenues through a more effective backlog execution

Lars-Henrik Q. Røren, CEO of Integrated Wind Solutions ASA, says in a comment:

“We are glad to have secured additional charter contracts for the Skywalker CSOV fleet, commencing immediately with two tier 1 clients. These new contracts and the existing charter backlog will strengthen the financial visibility well into 2025. Overall, the demand for IWS Fleet’s Skywalker-class vessels remains robust, with increasing inquiries for projects also extending beyond 2025. Finally, we look forward to taking delivery of our fourth vessel, the IWS Starwalker, later this quarter and publishing our Q3 Financial Report on 26 November, which will highlight record revenues for the Group.”

For investor relations queries, contact

Marius Magelie

Group CFO Integrated Wind Solutions

Phone: +47 920 27 419

E-mail: mm@integratedwind.com

For press queries, please contact

Lars-Henrik Røren

CEO Integrated Wind Solutions

Phone: +47 98 22 85 06

E-mail: lhr@integratedwind.com

About IWS:

Integrated Wind Solutions ASA offers a fleet of state-of-the-art service vessels to the offshore wind industry combined with a suite of adhering services to reduce the levelised cost of energy (“LCOE”) for offshore wind. The Company owns 74.62% of IWS Fleet AS, which has three Commissioning Service Operation Vessels (“CSOVs”) delivered and three CSOVs under construction with delivery in 2024 and 2025. Furthermore, IWS owns the offshore wind supply-chain service company, IWS Services A/S and the investment in the independent advisor, consultancy, data intelligence and wind farm operator firm PEAK Wind Group.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.