Nekkar ASA: Contract signed for Norwegian shiplift project

01 Nov 2024 08:53 CET

1.11.2024 08:53:09 CET | Nekkar ASA | Non-regulatory press releases

1 November 2024 - Reference is made to the stock exchange release dated 11
October 2024 regarding Nekkar ASA's wholly-owned subsidiary Syncrolift AS' being
awarded a contract by the Norwegian Defence Estate Agency (Norwegian:
Forsvarsbygg) for the delivery of a shiplift system. Nekkar is pleased to
announce that Syncrolift and the Norwegian Defence Estate Agency have signed the
contract for the project.

"We are a Norway-headquartered company and are therefore particularly proud to
have been awarded this project, which will be key to the Norwegian Navy. The
combination of a major newbuild project and subsequent service and maintenance
requirements will give us good visibility for many years to come," says
Rolf-Atle Tomassen, Managing Director of Syncrolift, the world's leading
manufacturer of shiplifts and transfer systems

Under the contract, Syncrolift will deliver a new shiplift and ship transfer
system to the Haakonsvern Naval base in Bergen, Norway. As the only supplier
with extensive submarine experience, the solution incorporates Syncrolift's
failsafe shiplift technology and signature fluid bed technology, designed to
ensure safe and secure transfers, specifically protecting submarines throughout
the process. Delivery of the shiplift and transfer system is scheduled for the
first quarter of 2029.

The delivery is designed with a 15-year outlook and includes scheduled and
periodic service and maintenance services, customer support and other service
and maintenance assignments to ensure long-term reliable operation.

The combined contract value is NOK 164 million excluding VAT (NOK 205 million
including VAT). Syncrolift is a wholly owned subsidiary of Oslo-listed Nekkar
ASA.

"Syncrolift has already delivered a large number of shiplifts and transfer
systems to naval shipyards worldwide. The addition of the Haakonsvern project to
our portfolio underlines our strong position in the global naval market, which
is witnessing increased defence industry spending because of rising geopolitical
uncertainty," says Ole Falk Hansen, CEO of Nekkar ASA.

Please note that Syncrolift's contract with thyssenkrupp Marine Systems, which
was announced on 30 October 2024, is commercially unrelated to the project with
the Norwegian Defence Estate Agency.

(ENDS)

DISCLOSURE REGULATION

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

CONTACTS

* Ole Falk Hansen, CEO, +47 988 14 184, ir@nekkar.com

ABOUT NEKKAR ASA

Nekkar (OSE: NKR) is an industrial technology group offering impact technologies
combined with high-end software solutions. The group combines 50 years' heritage
from the world's number one shiplift company, Syncrolift, with new investments
into sustainable, digitalised technology businesses that aim to unlock growth
within ocean-based industries such as offshore energy, renewables and
aquaculture.

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