Floatel International: Business Update Q3 2025

29 Oct 2025 08:13 CET

Oslo, October 29, 2025

The Company is pleased to present its Q3-2025 business update.

HIGHLIGHTS
Floatel Victory has been awarded an assignment to provide Maintenance and Safety
Unit (MSU) services for Karoon Energy offshore Brazil. The assignment is for 4
months with option to extend and with scheduled commencement early 2026. Floatel
Victory has also been awarded a Letter of Intent to provide MSU services in
Brazil for 6-7 months with start scheduled for autumn 2026.

Fleet utilization, stood at 100% during the third quarter, and the firm
orderbook as of September 30, 2025, excluding letters of intent and contract
extensions received after the end of the quarter, was USD 324 million.

Recurring EBITDA: USD 44.3 million for the quarter.

Capex: USD 0 million for the quarter.

Operating Cash flow: USD 28.9 million for the quarter.
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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
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 on the Norwegian continental-shelf. The entire fleet is
approved for operations in the UK and elsewhere in the world.

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.

More information:
Access the news on Oslo Bors NewsWeb site

658188_FI Business Update Q3-2025.pdf