Frøy ASA — Earnings Release 2023

Aug 31, 2023

Frøy ASA – Q2 2023

Frøy ASA – Q2 2023

Frøya, 31 August 2023:

Frøy ASA ("Frøy") reports strong operations and high activity in the wellboat segment and a somewhat slower seasonal increase in activity in the service segment in Q2 2023.

Highlights from Q2 23:

• Revenues of NOK 518 million vs. Q2 22 NOK 507 million

• EBITDA of NOK 171 million vs. Q2 22 NOK 154 million

• EBITDA excl. gain/loss from sale of vesels of NOK 172 million vs. Q2 22 NOK 153 million

• Backlog 30.06.23 of approx. NOK 6 billion including options

• Net interest-bearing debt 30.06.23 of approx. NOK 4.4 billion vs. Q2 22 NOK 3.7 billion

Please find Frøy´s quarterly report attached.

For further information, please contact:

Tonje Foss, CEO +47 996 10 116

Sondre Vevstad, CFO +47 936 54 555

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

This stock exchange announcement was published by Sondre Vevstad CFO in Frøy ASA on 31 August 2023 at 07:00 CET.