First quarter 2026 interim report and presentation

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.