Floatel International: Business Update Q1 2026

22 Apr 2026 09:25 CEST

Oslo, April 22, 2026

The Company is pleased to present its Q1-2026 business update.

HIGHLIGHTS

• Floatel Victory announced Letters of Intent to provide MSU services in Brazil
have been converted into a 6-month and a 3-month firm contract respectively with
Brava Energia S/A with start in Q4-2026 and Equinor Brasil Energia Ltda
commencing mid-2026.

• Fleet utilisation stood at 72% during the fourth quarter, and firm orderbook
as of March 31, 2026, was USD 342 million.

• Recurring EBITDA: USD 3.7 million for the quarter.

• Capex: USD 12.5 million for the quarter.

• Operating Cash flow: USD 3.0 million for the quarter

• Cash: USD 69.0 million at the end of 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 in the Norwegian sector. The entire fleet is approved
for operations in the UK sector 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

671168_FI Business Update Q1-2026.pdf