IWS Fleet completes strategic partnership with Sumitomo Corporation

12 Jun 2024 11:46 CEST

With reference to the stock exchange notice on 27 May 2024, Integrated Wind
Solutions ASA (“IWS”) announces the successful completion of the strategic
partnership agreement with Sumitomo Corporation through IWS’ subsidiary IWS
Fleet AS (“IWS Fleet”). IWS Fleet has raised EUR 60 million in equity, with
Sumitomo Corporation acquiring a 25.38% stake in IWS Fleet.

Wiersholm acted as legal adviser to IWS.

For further information, please contact:

Lars-Henrik Røren
CEO Integrated Wind Solutions
Phone: +47 98 22 85 06
E-mail: lhr@integratedwind.com

Marius Magelie
CFO Integrated Wind Solutions
Phone: +47 920 27 419
E-mail: mm@integratedwind.com

About Sumitomo Corporation:
Sumitomo Corporation (TYO: 8053) is an integrated trading company with a strong
global network comprising 129 offices in 66 countries and regions. The Sumitomo
Corporation Group consists of approximately 900 companies and 80,000 employees
on a consolidated basis. The Group's business activities are spread across the
following nine groups: Steel, Automotive, Transportation & Construction Systems,
Diverse Urban Development, Media & Digital, Lifestyle Business, Mineral
Resources, Chemicals Solutions and Energy Transformation Business. Sumitomo
Corporation is committed to creating greater value for society under the
corporate message of "Enriching lives and the world," based on Sumitomo’s
business philosophy passed down for over 400 years.

About IWS:
Integrated Wind Solutions ASA offers a fleet of state-of-the-art service vessels
to the offshore wind industry combined with a suite of adhering services to
reduce the levelised cost of energy (“LCOE”) for offshore wind. The Company owns
74.62% of IWS Fleet AS, which has two Commissioning Service Operation Vessels
(“CSOVs”) delivered and four CSOVs under construction with delivery in 2024 and
2025. Furthermore, IWS owns the offshore wind supply-chain service company, IWS
Services A/S and owns 30% of the independent advisor, consultancy, data
intelligence and wind farm operator firm PEAK Wind Group.

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