Edda Wind ASA: Update on charter contracts

08 Oct 2024 09:20 CEST

Haugesund, 8 October 2024: Edda Wind ASA (“Edda Wind” or the “Company”) is
pleased to announce that it has entered into two new time charter contracts for
two of its newbuilds, C503 and NB967, with commencement immediately following
yard delivery in November 2024 and Q2 2025 for C503 and NB967 respectively.

The first contract is related to the vessel C503 (to be named "Vestri Enabler”),
which is expected to be delivered from Astilleros Gondán, Spain, in late
November 2024. The new time charter contract is entered into with an undisclosed
client for operation in the UK. The duration of the time charter contract is
four months plus additional options, implying that the vessel C503 will be
employed directly from yard and during the winter season.

The second contract is related to the vessel NB967, which is to be delivered
from Vard, Vietnam, in Q2 2025. The new time charter contract is entered into
with an undisclosed client for operation in Taiwan. This contract marks Edda
Wind’s entrance into the Taiwanese market, a market which is projected to grow
significantly over the next years. The commencement of operation is linked to
yard delivery and the duration of the time charter contract is approximately six
months, until end 2025, plus additional options.

“Edda Wind is experiencing increased tendering activity and we are pleased to
report evidence of such activity, including our ability to secure full
employment for our fleet. Not only do the charter contracts once again
demonstrate Edda Wind’s ability to secure charter contracts for our newbuilds
upon delivery from yard, but the contract for NB967 also marks our entrance into
a new geographical market for Edda Wind in addition to the first contract for
our exclusive Vard 425 design. We further expand our broad network of reputable
counterparties and we are naturally very pleased to announce these two
contract.” says Kenneth Walland, CEO of Edda Wind.

Lastly, Edda Wind can also announce that the current time charter contract for
Edda Nordri has been extended until the end of 2024, meaning that Edda Wind is
fully booked for all its vessels until end of 2024 following the signed time
charter contract for C503.

For further information, please contact:

Lars Stubhaug, VP Finance Edda Wind
Phone: +47 917 42 725
E-mail: lars.stubhaug@eddawind.com

Hermann Hovland Øverlie, CFO Edda Wind
Phone: +47 922 46 501
E-mail: hermann.overlie@eddawind.com

ABOUT EDDA WIND

Edda Wind is a leading 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.

The Company owns and operates three purpose-built offshore wind SOVs and four
CSOVs and has six dedicated CSOVs under construction. All newbuild vessels are
prepared for zero-emission utilising liquid organic hydrogen carrier and/or
methanol as an energy source.

Read more: www.eddawind.com

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