Floatel International Ltd: First Quarter Interim Report and Presentation

Oslo – May 25, 2022 – Floatel International Ltd (“Floatel”) presents its consolidated financial statements for the first quarter of the financial year 2022.

Highlights:

• The first quarter fleet utilization was 50%. Total firm contract backlog (excluding options) was approximately USD 99 million as of March 31, 2022.

• Revenues for the first quarter were USD 24.6 million and EBITDA amounted to USD ‐0.3 million.

• Floatel Endurance and Superior started their charters for Equinor on the Norwegian continental shelf during the quarter. The Floatel Endurance charter has been extended with one month.

• Floatel Triumph completed the for Oersted in Taiwan during the quarter. Next charter commences mid-June 2022 in Australia.

• Floatel Victory continued its charter for Equinor in Brazil to provide Maintenance and Safety Unit services during the quarter. Equinor has exercised all options, so firm period ends on June 27, 2022.

• A Vessel Option Agreement for the Floatel Triumph has been signed with Woodside for a charter during March‐June 2023, to support the Pluto project in Western Australia.

Management will host a conference call today May 25, 2022 at 14.30 CEST to present the results. Interested persons can register using the details provided on the website www.floatel.no. A replay will be available for 21 days following the presentation by using the link provided on the website after the conference call.

For further information, please contact:

Peter Jacobsson, CEO, Floatel International Ltd

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

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

Download Q1-2022 Report here

Download Q1-2022 Presentation here