Floatel International Ltd: Second Quarter Interim Report and Presentation

Oslo – August 22, 2023 – Floatel International Ltd (“Floatel”) presents its consolidated financial statements for the second quarter of the financial year 2023.

Highlights:

• The second quarter fleet utilization was 60%. The total firm contract backlog (excluding options) was approximately USD 241 million as of June 30, 2023.

• New Contracts

o Vår Energi awarded the Group a charter for Floatel Superior to provide accommodation support to Jotun FPSO starting during the summer of 2024.

o INEOS has awarded the Group a 90-day charter to Floatel Superior at the Unity platform, UK sector, Central North Sea. The assignment will start in April 2024.

o A major Australian operator has contracted Floatel Triumph to provide accommodation and related services at its natural gas project. The charter is six months plus options and will commence in early 2025.

o Shell has awarded the Group a 4-month charter at the Shearwater field in the UK, and the assignment will start in June 2024, with options before and after the firm period.

• Floatel Endurance ended its assignment for Equinor in Norway on April 30, 2023, and has since been idle quayside in Skipavika, Norway.

• Floatel Superior on charter for Vår Energi at the Balder field in Norway from May 2, 2023, until September 12, 2023, with further options for the client to extend.

• Floatel Triumph on charter with Woodside until July 30, 2023. Shell Prelude started on August 9, 2023, and the charter period is 80 days, with options for Shell to extend.

• Floatel Victory’s charter for Equinor in Brazil ended on April 28, 2023, Victory underwent its SPS en route to US Gulf of Mexico, where the charter for Chevron Anchor commenced July 7, 2023. The contracted period is five months, with options for Chevron to extend.

• The new USD 100 million super secured senior bond issue, ISIN NO0012862673, was listed on Nordic ABM with Oslo Exchange on May 22, 2023, wither ticker FLOAT06 PRO.

Management will host a conference call later today, at 15.00 CET, to present the results. Interested persons can register using the details provided on the website https://www.floatel.no/investors

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 Q2-2023 Report here

Download Q2-2023 Presentation here