AMSC ASA — Earnings Release 2024

Oct 29, 2024

AMSC ASA - Third quarter 2024 results

AMSC ASA - Third quarter 2024 results

Lysaker, 29 October 2024, AMSC ASA ("AMSC" or the "Company") announces results

for the third quarter ending 30 September 2024.

HIGHLIGHTS:

· Acquired an additional 980 000 shares in Solstad Maritime Holding AS

("Solstad Maritime").

· Recognized share of profit of NOK 156.4 million relating to the investment

in Solstad Maritime.

· Expect to receive NOK 45.7 million in dividends from Solstad Maritime during

Q4.

· AMSC increases quarterly dividends to NOK 0.60 per share.

AMSC CEO, Pål Lothe Magnussen comments, "We are pleased to increase our

quarterly dividends to NOK 0.60 per share on the back of Solstad Maritime

initiating its quarterly dividends. The outlook for offshore energy activities

continues to look positive with strong global E&P spending in combination with

increased activity within offshore wind."