Floatel International Ltd: Contract Extensions

The Company is pleased to announce that the contracts have been extended for the existing Equinor Energy AS charters in the North Sea.

Floatel Endurance will continue to provide services at the Johan Sverdrup field until December 31, 2022. Two additional monthly options have been added under the same amendment, which gives Equinor the possibility to extend the charter until end February 2023.

Floatel Superior has recently been extended and will provide services at the Grane field (Breidablikk Project) until November 15, 2022.

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