Floatel International Ltd: Contract Award

Oslo, September 19, 2024

The Company is pleased to announce that the Group has secured an optional contract with Aker BP ASA to provide accommodation and support services for a potential new tie back to Hugin A in the Yggdrasil area. If Aker BP ASA exercises the option, the hire period for Floatel Endurance in the Yggdrasil area will be extended by an additional three to six months, bringing the total duration to ten to nineteen months, including the Hugin A project.

The option for the extended period is to be declared by Aker BP ASA no later than May 28, 2025.

This subsequent engagement is scheduled to commence immediately following the completion of the Hugin A project in 2027.

For further information, please contact:

Peter Jacobsson, CEO

Tel: +47 46 50 01 33; Mob: +47 934 00 232

Tomas Hjelmstierna, CFO

Tel: +47 46 50 01 33; Mob: +47 934 00 381