Reference is made to the stock exchange release of 1 July 2024, wherein Eidesvik
Offshore ASA ("Eidesvik") announced that Equinor Energy AS ("Equinor") has
declared options to extend the contract for the supply vessel Viking Energy
until April 2030.

Eidesvik further announces that Viking Energy is part of the European innovation
project 'Apollo' where the partners will retrofit the vessel with a dual fuel
engine able to operate on ammonia. The project has been granted EUR 5 million in
funding from the European Union's Horizon Europe programme. 

Equinor and Eidesvik are key partners in the industry cooperation, together with
Wärtsilä, Breeze Ship Design and Maritime Clean Tech. In addition to chartering
the vessel Equinor contributes with financing of the conversion.

The project has placed an order for the ammonia engine and fuel gas supply
system. Conversion to ammonia operation is planned for the first half of 2026,
making Viking Energy the world's first offshore vessel to adopt this  fuel as a
primary energy source in a combustion engine.

 "Apollo represents an important step in our journey towards carbon-free
shipping operations. Eidesvik has a unique history as a pioneer in showcasing
new technology to curb emissions, and we take pride in once again assuming this
role alongside Equinor", says CEO & President of Eidesvik, Gitte Gard Talmo.


Bømlo, 26 August 2024


Contacts:
CEO Gitte Gard Talmo (+47 915 23 245)
CFO Helga Cotgrove (+47 90735 246)