Floatel International Secures Contract for Floatel Endurance in 2029

20 Nov 2025 15:31 CET

Oslo, November 20, 2025

Floatel International is pleased to announce that a contract has been signed
with Aker BP ASA for the Floatel Endurance to provide accommodation and
construction support services to the Alvheim FPSO (Floating Production, Storage
and Offloading unit) on the Norwegian Continental Shelf in the central North Sea
in 2029.

The medium-term contract is due to commence late Q1/early Q2 2029.

Floatel Endurance is also contracted by AkerBP for the Skarv project due to
commence in Q1 2026 and for the Yggdrasil project due to commence in Q3 2026.

Peter Jacobsson, Group CEO of Floatel International, comments:
“We are very pleased to once again be given the trust and opportunity to deliver
our services to Aker BP on another important project.”
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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.

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