Floatel International Ltd Announces Sale of Floatel Reliance

19 Mar 2025 13:31 CET

Oslo, March 19, 2025

The Company hereby announces that it has finalized the sale agreement for
Floatel Reliance, its 2010-built accommodation, safety, and support
semi-submersible unit. This follows the previously announced agreement in
principle for the sale of the vessel for continued operational use.

The transfer of ownership and settlement is scheduled to take place in the
second quarter of 2025.
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For further information, please contact:
Peter Jacobsson, CEO, +47 934 00 232
Tomas Hjelmstierna, CFO, +47 934 00 381
Tel: +47 46 50 01 33
Email: ir@floatel.no

This information is subject to disclosure requirements pursuant to Section 5-12
of the Norwegian Securities Trading Act.
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About Floatel International Ltd

Floatel International Ltd was founded in 2006 to meet the growing demand for
next-generation offshore accommodation vessels. The Company’s vision is to own
and operate a modern, safe, and reliable flotel fleet. Since 2021, the Company’s
principal place of business has been in Norway.

The Floatel Group operates a fleet of four semisubmersible accommodation units
delivered between 2010 and 2016. Floatel Endurance and Floatel Superior are
approved for operations in the Norwegian sector. The entire fleet is approved
for operations in the UK sector. A fifth unit, Floatel Reliance, is currently
laid up and held for sale.

The Group employs approximately 450 personnel globally, including offshore
staff.

All flotels are equipped with dynamic positioning systems and comply with the
latest health, safety, and environmental standards, ensuring quality and comfort
for onboard personnel. Accommodation capacity ranges from 440 to 560 beds. Each
flotel includes large deck areas, workshops, and crane support, enabling them to
handle complex offshore hook-up projects as well as maintenance and
modifications of existing offshore installations.

The Company’s senior secured bonds are listed on Oslo Børs under the ticker code
FLOAT07.

For more information, visit: https://floatel.no.

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