Integrated Wind Solutions ASA

Capital/Financing Update • Aug 29, 2024

IWS Fleet secures EUR 186.9 million green senior secured loan facility

IWS Fleet secures EUR 186.9 million green senior secured loan facility

Integrated Wind Solutions ASA (“IWS”) is pleased to announce that its 74.62% owned subsidiary, IWS Fleet AS (“IWS Fleet”), has successfully finalised the full loan agreement for a EUR 186.9 million green senior secured facility. This agreement with Export Finance Norway (“Eksfin”), Skandinaviska Enskilda Banken AB (“SEB”), SpareBank 1 SR-Bank ASA (“SR-Bank”) and Nordic Investment Bank (“NIB”) is structured as an amendment and upscaling of the pre-existing EUR 118.65 million facility and was effective today.

The proceeds from the upscaled facility will be used for long-term post-delivery financing of the Commissioning Service Operation Vessel (“CSOV”) newbuildings, three of which are still under construction with delivery in Q4 2024 and H1 2025. The facility features an average 12-year amortisation profile, and the drawdown will be made in tranches when each vessel is delivered from the yard. The NIB tranches benefit from support from the European Union under the InvestEU Fund.

The commercial terms of the new facility have been improved relative to the pre-existing facility, and the previous parent company guarantee and financial covenants from IWS have been removed.

Group CFO Marius Magelie comments:

“We are thrilled to have secured this upscaled facility covering all six CSOVs. We are grateful for the firm and continued support from our existing lenders and are pleased to welcome Nordic Investment Bank into our syndicate. This facility ensures attractive green debt financing for all six vessels at improved terms. Combined with the strategic partnership with Sumitomo Corporation, raising EUR 60 million in equity in June, IWS and IWS Fleet are now in a strong financial position.”

For further information, please contact:

Lars-Henrik Røren

CEO Integrated Wind Solutions

Phone: +47 98 22 85 06

E-mail: lhr@integratedwind.com

Marius Magelie

CFO Integrated Wind Solutions

Phone: +47 920 27 419

E-mail: mm@integratedwind.com

About:

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 owns 30% of 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.