Integrated Wind Solutions ASA

Earnings Release • Feb 28, 2023

Integrated Wind Solutions ASA Q4 2022 Financial Report & Presentation

Integrated Wind Solutions ASA Q4 2022 Financial Report & Presentation

Integrated Wind Solutions ASA (“IWS”) has today published its Q4 2022 Financial Report and Presentation.

HIGHLIGHTS

•Total revenue of NOK 53 million for Q4 2022 compared with NOK 59 million in the previous quarter.

•EBITDA of NOK -4 million for Q4 2022 compared with NOK -4 million in the previous quarter.

•Exercised options and entered into newbuilding contracts with China Merchants Industry Holdings Co. for construction of two additional CSOVs with a firm yard price of EUR 52.5 million and scheduled delivery in Q2 2025. When delivered, IWS will have a fleet of six identical Skywalker class vessels. The Group has also secured options for two additional vessels.

•IWS Services revenue of NOK 52.5 million in Q4, compared with NOK 58.2 million in in the previous quarter.

•The Group’s share of the net profit in PEAK Wind was NOK 1.4 million (NOK 1.5 million in Q3 2022), before NOK -0.9 million amortisation of acquisition-related intangible assets.

•Signed the final charter contract for Dogger Bank C with start-up in 2025 and a duration of 304 days with the Dogger Bank consortium. IWS has now secured contract work for Dogger Bank A, B and C.

•The Company has after the balance sheet date received a term sheet for a Green Senior Secured Credit Facility from Skandinaviska Enskilda Banken AB (“SEB”) and SpareBank 1 SR-Bank ASA (“SR Bank”) for the debt financing of IWS Seawalker and IWS Starwalker.

•Successfully completed private placement of NOK 350 million in January 2023 by issuing 10,606,060 shares at a subscription price of NOK 33 per share.

•Continued strong market for CSOVs with increased charter rates and newbuilding prices, improving the first-mover advantage of early market entrants.

Company contacts:

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 has six Commissioning Service Operation Vessels (“CSOVs”) under construction with delivery in 2023, 2024 and 2025 in addition to options for two additional vessels. Furthermore, IWS owns the offshore wind supply-chain service company, IWS Services A/S and has a 30% ownership 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.