Floatel International: Q1-2026 Interim report

28 May 2026 11:02 CEST

Oslo May 28, 2026

Floatel International Ltd (“Floatel”) presents its consolidated financial
statements for the first quarter 2026.

HIGHLIGHTS:

All units were on charter during the quarter with 72% utilisation

The orderbook excluding options and letters of intent was approximately USD 342
million as of March 31, 2026

Contracts update
• Floatel Victory’s letters of intent to provide MSU services in Brazil has been
converted into firm assignments: a 3-month contract at the Equinor Bacalhau
field, scheduled to start mid-2026, and a 6-month contract with Brava Energia
with start in Q4-2026

Revenues were USD 37.3 million in the quarter

Recurring EBITDA was USD 3.7 million in the quarter

Operations update
• Floatel Endurance on hire for Cenovus Energy in Canada until January 6, 2026,
and for Aker BP Skarv project from March 14, 2026, and, in between, completed
thruster overhaul in Norway
• Floatel Superior in operation in Norway at the Aker BP Skarv field from March
1, 2026, until replaced by Floatel Endurance, and at the Vår Energi Jotun FPSO
from March 21, 2026
• Floatel Triumph on hire in Australia for Inpex Ichthys until January 7, 2026,
for Woodside Scarborough from January 13, 2026, until May 8, 2026, and for Shell
Prelude from May 13, 2026
• Floatel Victory provided maintenance and safety unit services in Brazil at the
Peregrino field until January 15, 2026, and for Karoon Energy at the Bauna field
from February 5, 2026

Management will host a conference call later today, at 14.30 CEST, 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 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

674724_FIL Q1-2026 Interim Report.pdf
674724_FI Q1-2026 presentation.pdf