Third quarter 2025 interim report and presentation

26 Nov 2025 09:16 CET

Oslo November 26, 2025

Floatel International Ltd (“Floatel”) presents its consolidated financial
statements for the third quarter 2025.

HIGHLIGHTS:

All units on charter during the entire quarter with 100% utilisation compared
with 97% last year, excluding Floatel Reliance.

The orderbook excluding options and letters of intent was approximately USD 324
million as of September 30, 2025.

Revenues were USD 83.1 million in the quarter and USD 174.6 million year to
date.

Recurring EBITDA was USD 44.3 million in the quarter and USD 74.6 million year
to date.

CONTRACTS UPDATE:

- Floatel Triumph has been awarded a contract offshore Australia for
approximately 35 days, and the expected commencement date is the fourth quarter
2026.

- Floatel Victory has been awarded a 4-6-month Maintenance and Safety Unit (MSU)
assignment for Karoon Energy offshore Brazil. Scheduled commencement is early
2026.

- Floatel Endurance has been awarded a contract with Aker BP to provide services
to the Alvheim FPSO on the Norwegian Continental Shelf. The 9-month assignment
(plus options) commences spring 2029.

- Floatel Victory has secured a Letter of Intent to provide MSU services
offshore Brazil in 2026, and the assignment is for 6-7 months commencing around
end Q3 2026.

OPERATIONS UPDATE:

- Floatel Endurance on hire for Cenovus Energy at the White Rose field in
Canada, the assignment ends December 21, 2025.

- Floatel Superior completed the Equinor Åsgard assignment October 31, 2025, and
is idle in Skipavika in Norway awaiting the next charter starting spring 2026.

- Floatel Triumph on assignment in Australia for Inpex Ichthys, Inpex has
exercised remaining options, extending the contract through to January 4, 2026.

- Floatel Victory is in operation in Brazil providing maintenance and safety
unit support for PRIO at the Peregrino field and the assignment ends mid-January
2026.

Management will host a conference call later today, at 15.00 CET, to present the
results. Interested persons can register using the details provided on the
website https://floatel.no/investors.
________________________________________________________________________

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.
________________________________________________________________________

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

660577_FIL Q3-2025 Presentation.pdf
660577_FIL Q3-2025 Interim Report.pdf