Floatel International Ltd: Fourth Quarter Interim Report and Presentation

Oslo – February 23, 2023 – Floatel International Ltd (“Floatel”) presents its consolidated financial statements for the fourth quarter of the financial year 2022.

Highlights:

• The fourth quarter fleet utilization was 60%. The total firm contract backlog (excluding options) was approximately USD 219 million as of December 31, 2022.

• New Contracts

o Vår Energi (“VE”) awarded Floatel Superior a 3-month contract in Norway with options afterward. VE also has the right to utilise Floatel Superior in Norway for 4-10 months in 2024.

o AkerBP has awarded two simultaneous projects on the Norwegian continental shelf for Floatel Endurance and Floatel Superior. The charters will commence in mid-2026, with firm hire periods of 7 and 10 months respectively, both with several options to extend.

• Floatel Endurance and Floatel Superior on charter for Equinor at the Johan Sverdrup and Grane fields in Norway during the entire quarter; the contracts ended/ends December 31, 2022, and April 30, 2023, respectively.

• Floatel Triumph is idle in Kemaman, Malaysia, and ready to depart to Australia at the end of the month as the Woodside charter commences mid-March 2023.

• Floatel Victory continued its charter for Equinor in Brazil to provide Maintenance and Safety Unit (MSU) services. The contract has been extended to March 29, 2023.

Management will host a conference call later today, at 14.00 CET, to present the results. Interested persons can register using the details provided on the website www.floatel.no.

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

Download Q4-2022 Report here

Download Q4-2022 Presentation here