Edda Wind ASA: Sale of Mistral Enabler

19 Mar 2025 18:01 CET

Haugesund, 19 March 2025: Edda Wind ASA (“Edda Wind” or the “Company”) today
announces that the Company, through its subsidiary West Energy AS, has entered
into a sale and purchase agreement regarding the sale of all outstanding shares
in Puerto de Llafranc S.L., the registered owner of the vessel Mistral Enabler.
The transaction is subject to customary closing conditions and closing is
expected to take place early April 2025. Mistral Enabler is currently working on
a contract for Ørsted Wind Power A/S (“Ørsted). In connection with the sale, the
current contract with Ørsted will be novated to the new owner of Mistral
Enabler.

The proceeds from the sale will be used for general corporate purposes,
including the repayment of outstanding debt related to Mistral Enabler, and will
further strengthen the Company’s liquidity position and balance sheet. With a
liquid and solid balance sheet, the Company is in a good position to evaluate
growth opportunities.

The sale of Mistral Enabler optimises, aligns and homogenizing the Company’s
fleet of modern and flexible CSOVs/SOVs all prepared for zero-emission utilising
liquid organic hydrogen carrier and/or methanol as an energy source. The sale of
Mistral Enabler also follows the sale of Mistrals Enabler’s sister vessel, Edda
Passat, which the Company sold in March 2024.

Following the sale of Mistral Enabler, the Company will own and operate two
purpose-built offshore wind SOVs and five CSOVs. In addition, the Company has
five CSOVs under construction, of which four vessels are expected to be
delivered in Q2 2025.


For further information, please contact:

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

Hermann H. Øverlie, CEO 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 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 (pre the
sale of Mistral Enabler) and five CSOVs and has five dedicated offshore wind
vessels under construction – all CSOVs. All newbuild vessels are prepared for
zero-emission utilising liquid organic hydrogen carrier and/or methanol as an
energy source.

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