Akastor ASA: DDW Offshore completes USD 31 million refinancing

26 Sep 2023 07:30 CEST

Akastor ASA's (OSE: AKAST, "Akastor") wholly owned subsidiary DDW Offshore AS
("DDW Offshore") has completed a USD 31 million refinancing provided by EnTrust
Global's Blue Ocean Funds as lenders. The new loan agreement matures in
September 2026 and is guaranteed by Akastor. The funds have been or will be used
for the following purposes:

i. settlement of the existing loan facility maturing in February 2024;
ii. settlement of the profit split arrangement for the two vessels Skandi
Atlantic and Skandi Emerald that was agreed with the previous lenders (see press
release 27 August 2020 for further details);
iii. reactivation of "Skandi Peregrino", which is currently in warm lay-up, and;
iv. general corporate purposes.

Following these transactions, DDW Offshore holds full economic interest in its
fleet of three Anchor Handling Tug Supply (AHTS) vessels (Skandi Atlantic,
Skandi Emerald and Skandi Peregrino).

For further information, please contact:

Øyvind Paaske

Chief Financial Officer

Tel: +47 917 59 705

Oyvind.paaske@akastor.com

***

Akastor is a Norway-based oil-services investment company with a portfolio of
industrial holdings and other investments. The company has a flexible mandate
for active ownership and long-term value creation.

DDW Offshore owns three modern Anchor Handling Tug Supply (AHTS) vessels (Skandi
Atlantic, Skandi Emerald and Skandi Peregrino) with capability to operate and
support clients on a world-wide basis. The vessels are specially designed to
perform anchor-handling, towing, and supply services at offshore oil and gas
fields. On 24 July 2023, DDW Offshore completed the sale of Skandi Saigon and
Skandi Pacific to OceanPact Servicos Maritimos S.A.

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

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