Fourth quarter and full-year 2025 interim report and presentation

25 Feb 2026 08:50 CET

Oslo February 25, 2026

Floatel International Ltd (“Floatel”) presents its consolidated financial
statements for the fourth quarter and full-year 2025.

HIGHLIGHTS:

All units on charter during the quarter with 85% utilisation.

The orderbook excluding options and letters of intent was approximately USD 358
million as of December 31, 2025.

Contracts update
• 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) will commence spring 2029.
• The letter of intent for Floatel Victory to provide Maintenance and Safety
Unit (MSU) services offshore Brazil has been converted into a 6-month firm
contract with Brava Energia, scheduled to commence in Q4 2026.
• A new letter of intent has been secured for Floatel Victory to provide MSU
services offshore Brazil. The MSU assignment is for 3 months and is scheduled
between the Karoon and Brava assignments in 2026.

Revenues were USD 71.4 million in the quarter and USD 246.1 million for the full
year.

Recurring EBITDA was USD 33.9 million in the quarter and USD 108.5 million for
the full year.

Operations update
• Floatel Endurance at a Norwegian shipyard after completing Cenovus Energy
West White Rose project on January 6, 2026, for planned maintenance and the next
charter starts in mid-March 2026.
• Floatel Superior completed the Equinor Åsgard assignment October 31, 2025,
and is idle in Skipavika in Norway awaiting the next charter starting March 1,
2026.
• Floatel Triumph on assignment in Australia for Woodside Scarborough after
completing the Inpex Ichthys charter on January 7, 2026.
• Floatel Victory is in operation in Brazil providing maintenance and safety
unit services to Karoon Energy after ending the assignment at the Peregrino
field on January 15, 2026.

Management will host a conference call later today, at 14.30 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 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 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

666681_FIL Q4-2025 Presentation.pdf
666681_FIL Q4-2025 Interim Report.pdf