Endúr ASA - Contract awards

20 Apr 2023 12:10 CEST

20 April 2023 – BMO Entreprenør AS (“BMO”), Endúr Maritime AS (“Endúr Maritime”)
and Endúr Sjøsterk (“Endúr Sjøsterk”), all wholly owned subsidiaries of Endúr
ASA (“Endúr”), have been awarded material new contracts, worth a total of
approximately NOK 210 million.

BMO has today been awarded a contract with Bane Nor (The Norwegian Railway
Infrastructure Manager) worth an estimated NOK 70 million including options.
Finalization and signing of contract documents is expected to take place within
the next couple of weeks. The scope of the work to be carried out includes the
replacement of 7 railway bridges in The Oslo Region. The project will commence
in Q2 2023 with an estimated production period of 15-20 months. BMO have
conducted several similar projects over the last years, with both the scope of
work and the contract format being well known.

“We are very pleased to announce this award, as Bane Nor represents a
strategically important customer, as well as the project scope being at the
center of the rehabilitation niche in which BMO operates. It is also satisfying
to see that we are competitive in a bid that equally weighs the contractor’s
ability to combine quality with price”, says Aleksander Rød, CEO of BMO.

In addition, Endúr Maritime has today been notified that The Norwegian Defense /
Forsvarets Logistikkorganisasjon (“FLO”) will exercise it’s option to prolong
the ongoing framework contract involving maintenance, repairs and upgrades of
the Norwegian Royal Navy’s ship fleet (Norwegian: “Avlastningsavtalen”). The
option period starts on 9 October 2023 and lasts for a period of 12 months. The
option has an estimated value of NOK 100 million.

“The exercise of the option provides additional stability for Endúr Maritime in
a period where the company has seen major improvements in it’s operational and
financial results, and furthermore serves as a testament to the quality of the
operations carried out on a daily basis by our highly skilled and flexible
workforce”, says Arvid Vestgård, CTO of Endúr Maritime.

Finally, it also deserves mentioning that Endúr Sjøsterk recently signed a new
contract with Eidsfjord Sjøfarm AS for the production of a 17x34 m concrete feed
barge, with a contract value of close to NOK 40 million.

“All three of these contracts, as well as the remaining order intake in general
over the last quarter, underline the attractive market outlook within our
defined segments and we are confident that other exciting leads will materialize
over the coming periods, both within Marine Infrastructure and Aquaculture
Solutions”, adds Jeppe Raaholt, CEO of Endúr ASA.

ENDS
For further information, please contact:

Media
Jeppe Raaholt, CEO of Endúr, tel: +47 976 69 759

Investors
Einar Olsen, CFO of Endúr, tel: +47 924 01 787

About Endúr ASA
Endúr ASA (OSE: ENDUR) is a leading supplier of construction and maintenance
projects and services for marine infrastructure, including facilities for
land-based aquaculture, quays, harbours, dams, bridges and other specialized
concrete and steel projects. The company and its subsidiaries also offer a wide
range of other specialised project and marine services. Endúr ASA is
headquartered in Lysaker, Norway. See www.endur.no.

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