Integrated Wind Solutions ASA

Report Publication Announcement • Nov 15, 2022

Integrated Wind Solutions ASA Q3 2022 Financial Report & Presentation

Integrated Wind Solutions ASA Q3 2022 Financial Report & Presentation

Integrated Wind Solutions ASA (“IWS”) has today published its Q3 2022 Financial Report and Presentation.

HIGHLIGHTS

•Total revenue of NOK 59 million for Q3 2022 compared with NOK 56 million in the previous quarter.

•EBITDA of NOK -4 million for Q3 2022 compared with NOK -3 million in the previous quarter.

•The Dogger Bank consortium intends to charter one CSOV for Dogger Bank C for commissioning and construction work with commencement in mid-2025. IWS has already secured contract work for Dogger Bank A and B. The intended new charter contract is under documentation, with expected signing in Q4 2022.

•The EUR 56.25 million senior secured credit facility for the financing of the two first CSOVs has been classified as Green under the bank’s green financing framework. The reclassification highlights IWS’s commitment to ESG and sustainability.

•Good progress on the CSOVs under construction at China Merchants Industry Holdings Co., Ltd (“CMI”) with an expected delivery of the first vessel during the second half of Q2 2023. The launch of IWS Skywalker was successfully completed on 8 November and the first steel cut on IWS Seawalker and IWS Starwalker was completed on 9 November.

•The 30% owned PEAK Wind continues the strong growth with an increase in Q3 2022 net revenues of 47% year over year to NOK 47 million. The number of employees has increased by more than 50% since year-end 2021.

•IWS Services continues to develop with an increase in Q3 2022 revenues of 7% versus Q2 2022, explained by ProCon and Green Ducklings.

•Continued strong market for CSOVs with increased charter rates year-over-year and higher 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 four Commissioning Service Operation Vessels (“CSOVs”) under construction with delivery in 2023 and 2024, and options for up to two additional sister 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.