Edda Wind ASA: Contract Extension for Edda Passat

14 Nov 2022 10:30 CET

14 November 2022 – Offshore wind service company Edda Wind has extended the
charter agreement for Edda Passat for 7 months during 2023 at dayrates in excess
of 25% over current level.

The Service Operation Vessel (SOV) Edda Passat has operated for Ørsted
(previously: Dong) at Race Bank Offshore Wind Farm since it was built in 2018.
The firm period is expiring in March 2023. Today, Ørsted and Edda Wind have
entered into a 7-month extension of this contract - in direct continuation of
the firm period. The agreed rate for the extension reflects the positive
development in the SOV market and is in excess of 25% above the previous level.
Ørsted have as part of the agreement agreed to waive the remaining options they
had on the vessel, leaving Edda Wind free to trade Edda Passat in a very
favourable market going forward.

“We are pleased that Ørsted has extended this contract beyond the 5 firm years.
The offshore wind market has developed favourably, and we are satisfied that the
new rate reflects this.” says Kenneth Walland, CEO of Edda Wind.

For further information, please contact:
Kenneth Walland, CEO Edda Wind
Phone: +47 916 93 418
E-mail: kenneth.walland@eddawind.com

Tom Johan Austrheim, CFO Edda Wind
Phone: +47 982 09 873
E-mail: tom.johan.austrheim@eddawind.com

ABOUT EDDA WIND
Edda Wind is a leading pure play offshore wind service company headquartered in
Haugesund, Norway. The Company develops, builds, owns and operates purpose-built
Service Operation Vessels (“SOV”) and Commissioning Service Operation Vessels
(“CSOV”) for offshore wind farms worldwide.

Edda Wind is creating the next generation of offshore wind service vessels and
works closely with partners to develop new technologies to reduce emissions
without compromising operational capabilities or cost competitiveness.

As of today, the Company owns and operates two purpose-built offshore wind SOVs,
operates one chartered frontrunner, and has seven dedicated offshore wind
vessels under construction – two offshore wind SOVs and five offshore wind CSOVs
– with delivery from 2022. All newbuild vessels are prepared for zero-emission
utilising liquid organic hydrogen carrier as an energy source. Read more :
www.eddawind.com

This information is considered to include inside information pursuant to the
Market Abuse Regulation article 17 and is subject to the disclosure requirements
pursuant to section 5-12 of the Norwegian Securities Trading Act. This stock
exchange announcement was published by Tom Johan Austrheim, CFO, Edda Wind ASA,
on 14 November 2022 at 10:30 CET.

More information:
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