Floatel International Ltd: Third Quarter Interim Report and Presentation

Oslo – November 29, 2022 – Floatel International Ltd (“Floatel”) presents its consolidated financial statements for the third quarter of the financial year 2022.

Highlights:

• The third quarter fleet utilization was 73%. The total firm contract backlog (excluding options) was approximately USD 110 million as of September 30, 2022.

• New Contracts

o The previously announced charter in Australia for Floatel Triumph with Woodside was signed in the quarter.

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

• Floatel Endurance and Floatel Superior on charter for Equinor at the Johan Sverdrup and Grane fields in Norway during the entire quarter and were extended to December 31, 2022, and March 31, 2023, respectively.

• Floatel Triumph ended operations for Inpex in Australia during the quarter and is currently on standby in Kemaman, Malaysia awaiting 2023 charters in Australia including the suspended Shell Prelude contract.

• Floatel Victory continued its charter for Equinor in Brazil to provide Maintenance and Safety Unit (MSU) services. The contract has at the date of this report been extended to February 26, 2023.

Management will host a conference call on November 30, 2022, at 15.00 CET 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

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 Q3-2022 Report here

Download Q3-2022 Presentation here