AMSC ASA - Second quarter and half-year 2024 Report

16 Jul 2024 07:05 CEST

Lysaker, 16 July 2024,

AMSC ASA ("AMSC" or the "Company") announces results for the second quarter and
half-year ending 30 June 2024.

HIGHLIGHTS

· Participated with NOK 122 million in the Solstad Maritime Holding ("Solstad
Maritime") private placement
· Recognized share of profit of NOK 248.9 million relating to the investment
in Solstad Maritime.
· Declared Q2 2024 dividend of NOK 0.55 per share.

AMSC CEO, Pål Lothe Magnussen comments, "We are pleased to have capitalized on
the opportunity to grow our exposure to Solstad Maritime having acquired and
exercised subscription rights in order to cement our fully diluted shareholding
at 19.4%. The outlook for offshore energy activities continues to look positive
with strong global E&P spending in combination with increased activity within
offshore wind. In parallel, we continue to evaluate investment opportunities and
effective capital allocation alternatives, with the aim to continue to make
attractive quarterly distributions".

The full report is attached.

Company contacts:

Pål Magnussen, Chief Executive Officer +47 24 13 00 04

Morten Bakke, Chief Financial Officer +47 24 13 00 87

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

More information:
Access the news on Oslo Bors NewsWeb site

623694_Q2_2024_AMSC_FINAL.pdf