Floatel International Ltd: Contract update

14 Oct 2024 15:36 CEST

Oslo, October 14, 2024

Equinor Energy AS has informed the Group that they will not exercise the
optional contract for providing accommodation and support services at the
Oseberg Field Centre. The original intention was for the engagement at the
Oseberg Field Centre to commence immediately after the completion of the project
at Åsgard in early Q4 2025.

The Group's total contracted firm orderbook was as of 30 September, 2024,
approximately USD 364 million with approximately USD 154 million in options
excluding the Oseberg optional contract.

For further information, please contact:
Peter Jacobsson, CEO
Tel: +47 46 50 01 33; Mob: +47 934 00 232
Tomas Hjelmstierna, CFO
Tel: +47 46 50 01 33; Mob: +47 934 00 381



INFORMATION ABOUT FLOATEL INTERNATIONAL LTD
Floatel International Ltd was established in 2006 to satisfy market demand for a
new generation of offshore flotels. The vision of the Company is to own and
operate a modern, safe, and reliable flotel fleet. The Company has since 2021
its principal place of business in Norway.

The Floatel Group employs some 450 people internationally, including offshore
personnel.

Floatel International Group owns and operates five, whereof four active,
semisubmersible accommodation vessels; all vessels were delivered within the
period 2010 to 2016. Two vessels, Floatel Endurance and Floatel Superior, are
approved to operate in the Norwegian sector, and four vessels, including Floatel
Endurance and Floatel Superior, are approved for the UK sector.

All vessels are equipped with a dynamic positioning system and are built
according to the latest HSE requirements providing quality and comfort for the
guests onboard. The accommodation capacity of the Floatel fleet ranges from 440
beds to 560 beds. All vessels are equipped with large deck areas, workshops, and
crane support, able to assist complicated offshore hook-up projects and
maintenance and modifications of existing offshore facilities.

For further information about Floatel International Group, please visit our
website: www.floatel.no.

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