Moreld AS — Capital/Financing Update 2025

Feb 12, 2025

Moreld AS: Extension of Ocean Installer's charter party with North Sea Shipping

Moreld AS: Extension of Ocean Installer's charter party with North Sea Shipping

Stavanger, 12 February 2025: Ocean Installer AS ("Ocean Installer"), a wholly owned subsidiary of Moreld AS ("Moreld"), has today exercised an option to extend the charter party of the vessel "North Sea Giant" (the "Charter Party") with the vessel's shipowner North Sea Shipping AS ("NSS") until the end of the first quarter of 2027. In addition to an existing one-year extension option, Ocean Installer and NSS have agreed to a new 18-month extension option, which allows Ocean Installer to extend the Charter Party until the fourth quarter of 2029.

For more information, please contact:

CEO Geir Austigard

Telephone: +47 992 47 500

Email: Geir.austigard@moreld.com

CFO Trond Rosnes

Telephone: +47 404 14 494

Email: Trond.rosnes@moreld.com

About Moreld

Moreld is an industrial multi-disciplinary engineering group offering full-scope services across the offshore energy and marine industries including subsea installations. The group comprises Moreld Apply, Ocean Installer and Global Maritime. Moreld is a major player on the Norwegian continental shelf with an international footprint. The Group is located in 19 countries, giving access to all major offshore markets, and has over 2,800 employees and contractors. For more information, please visit https://moreld.com/.

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