Endúr Maritime AS is awarded a framework contract by the Norwegian Armed Forces
Logistics Organization (FLO) for supplementary maintenance assignments at the
naval base Haakonsvern. The calculated value of the contract, including the
option period, is estimated by the Defense to be NOK 750 million. The framework
contract is valid for a period of four years with an option for a further three
years. The award has a waiting period until 30 September 2019 before the award
can be signed and made effective.

“This award confirms that we have managed to maintain our attractiveness and
competitiveness towards the Norwegian Armed Forces, even though the number of
assignments from the Norwegian Armed Forces has been lower than desired in
recent years. However, we now see an exciting foundation for a strong increase
in activity and a significantly higher activity with a long time horizon”, says
CEO Hans Petter Eikeland of Endúr ASA.

The awarded framework contract comprise maintenance services and alteration work
for all vessel classes the Navy base at Haakonsvern has or will receive during
the framework agreement period. This includes both surface vessels and
submarines. The contract will be a supplement to existing framework agreements
with the Armed Forces already have with various suppliers, as well as a
supplement and to the maintenance performed by the Armed Forces themselves
(self-directed). Call-offs from this framework agreement will mainly be made in
cases where the Norwegian Armed Forces need additional capacity and / or
existing framework agreements do not cover the maintenance needs.

Managing Director Jonny Arefjord of Endúr Maritime AS is proud that the company
can continue to grow within maritime service and the areas of expertise that the
company has acquired expertise for over many decades.

“Our employees are strongly motivated and well prepared to take on this
challenge that the Norwegian Armed Forces has given us through the assignment”,
says Arefjord.

Endúr Maritime AS (formerly Bergen Group Services AS) is a wholly owned
subsidiary of the listed group Endúr ASA. The company has well-established
expertise and capacity related to the execution of complex maritime projects and
service operations, including through framework agreements with the Armed
Forces, the Rescue Company and shipping companies along the Norwegian coast.
Endúr Maritime AS has built up its own engine test center with considerable
expertise related to its own location at Laksevåg in Bergen. In addition, the
company has its own travel team covering both the Norwegian coast, offshore
installations in the North Sea and international missions.

Contacts:
Managing Director Jonny Arefjord in Endúr Maritime, phone +47 922 86 572
President and CEO Hans Petter Eikeland in Endúr ASA, telephone +47 932 08 177