Odfjell Technology — M&A Activity 2025

Feb 19, 2025

ConocoPhillips exercise three-year extension

ConocoPhillips exercise three-year extension

Odfjell Technology (the “Company”) is pleased to announce the exercising of a three-year extension option on their platform drilling contract with ConocoPhillips Skandinavia AS (the “Client”) in the North Sea. The contract is for the provision of platform drilling operation and maintenance services in Norway. The exercised option means that the contract is extended until 1 July 2028 and represents a significant addition to the Company’s firm back log. A further 3-year option remains valid under the contract.

Kurt Meinert Fjell, EVP Operations in Odfjell Technology commented “ConocoPhillips Skandinavia AS has been an important client to us for several years and we are pleased to continue our cooperation. The exercising of this option is a testament to the hard work from the teams both offshore and onshore and we look forward to continuing to work together to deliver results safely.

For further information, please contact:

Gillian Basson

Corporate Secretary

+44 (0) 7796 547 889

gbas@odfjelltechnology.com

Aberdeen, United Kingdom

or

Gert Haugland

SVP Finance & Investor Relations

+47 92661638

gjha@odfjelltechnology.com

19 February 2025