Integrated Wind Solutions AS (Ticker: IWS) secures contract on world's largest
offshore wind farm

2nd of June 2021

Integrated Wind Solutions AS is pleased to announce further details related to
the press release issued 28th of April related to its fully owned subsidiary
Awind AS securing its first charter contract. The mentioned contract is with
Dogger Bank Wind Farm for chartering of one of its Walk-to-Work Commissioning
Service Operation Vessels.

The contract will commence Q2 2023 and will be a key enabler for efficient
commissioning of the 13MW GE Renewable Energy Haliade-X turbines on the first
two phases of the wind farm, Dogger Bank A and B. The firm contract duration is
546 days in total. In addition to 60 optional days on Dogger Bank A and B, there
is also an option for 331 days at Dogger Bank C.

Awind has currently two state-of-the-art vessels under construction at China
Merchants Industry. 

Lars-Henrik Røren, CEO of Integrated Wind Solutions said: The contract announced
today marks an important milestone for IWS. Being chosen by the Dogger Bank Wind
Farm for the world's largest offshore wind farm demonstrates the attractiveness
of our vessels' capabilities and environmental features, our HSE and quality
standards and our team's ability to deliver on tight deadlines. I am proud that
we shortly after listed on Euronext Growth Oslo have succeeded in securing a
contract with a blue-chip client, as expressed in our strategy of being a fully
integrated provider of offshore wind services. 

Dogger Bank Wind Farm Project Director, Steve Wilson, said: "Signing this
contract with Awind for the "walk-to-work" vessel is another important milestone
for the project. The vessel will play an important role in the safe
commissioning of the turbines in the construction of the first two phases."  

The Dogger Bank Wind Farm will be e located more than 130 km from the Yorkshire
coast in the UK. The wind farm is being built in three consecutive 1.2 GW phases
known as Dogger Bank A, B and C,  Each phase of the project is expected to
generate around 6 TWh of electricity annually, powering 6 million UK homes each
year when all phases completed. 

The first two phases, Dogger Bank A and B, are a joint venture between Equinor
(40%) SSE Renewables (40%) and Eni (20%). The third phase, Dogger Bank C, is
being developed on a different timescale and is owned by Equinor (50%) and SSE
Renewables (50%).

Headquartered in Scotland SSE Renewables is leading the Dogger Bank construction
and commissioning, while Equinor will lead the operation of the wind farm upon
completion. 

For further information, please contact: 
Lars-Henrik Røren, CEO  Integrated Wind Solutions, phone +47 98 22 85 06 or
e-mail lhr@integratedwind.com

**

About Integrated Wind Solutions
Integrated Wind Solutions AS was established in July 2020 and was stock listed
on Euronext Growth (Oslo) in March 2021. The Company was established by the
Awilco group and coupling over 80 years' experience from both projects and
operations in shipping and offshore.
Integrated Wind Solutions AS aims to be a leading offshore wind service player
by integrating service operation vessels with engineering, product and manpower
services in a windfarm's installation, commissioning, and operations phase. 
Year around, IWS will strive to prove that the offshore wind business is a
powerful place to invest and a safe place to work. 

Integrated Wind Solutions' fully owned subsidiary Awind AS has entered into two
newbuild construction contracts with a leading and reputable shipyard, China
Merchants Industry Holdings Co., Ltd. for the construction of two "walk-to-work"
Commissioning Service Operation Vessels with delivery in the first half of 2023,
and additional options for further four vessels. The strategy of Integrated Wind
Solutions is to provide a fleet of state-of-the-art service vessels to the
offshore wind industry, combined with a suite of adhering services, to reduce
levelized cost of energy (LCOE) for offshore wind. IWS is headquartered in Oslo,
Norway. 

About Dogger Bank Wind Farm:

The 3.6GW Dogger Bank Wind Farm will be the world's largest offshore wind farm
when completed in 2026.

It is being built in three 1.2GW phases: Dogger Bank A, B and C.

Dogger Bank A and B is a joint venture between SSE Renewables (40%), Equinor
(40%) and Eni (20%). Dogger Bank C is a 50:50 joint venture between Equinor and
SSE Renewables. 

SSE Renewables is lead operator for the development and construction of Dogger
Bank Wind Farm. Equinor will be lead operator of the wind farm for the duration
of the wind farm's operational phase

Financial Close on Dogger Bank A and Dogger Bank B was reached in November 2020.
Financial Close for Dogger Bank C is expected in late 2021.

Consent for Dogger Bank Wind Farm was granted in 2015.

Each of the three phases of Dogger Bank Wind Farm secured 15-year CfD contracts
for 1.2GW of low carbon power for of low carbon power production in the UK's
third CfD Allocation Round, announced September 2019.

In May 2021, Dogger Bank Wind Farm took another major step forward after passing
a required delivery milestone under the UK's Contracts for Difference scheme for
low carbon power.

Dogger Bank Wind Farm is located in the North Sea, with each phase more than
130km from the Yorkshire Coast.

Onshore construction began in 2020 and is currently underway for Dogger Bank A
and Dogger Bank B, with offshore construction on Dogger Bank A due to begin in
Q2 2022. First power is expected in Summer 2023 and Summer 2024 for Dogger Bank
A and B, respectively, with commercial operations to follow around 6 months
later.

Turbine installation for Dogger Bank C will begin in 2025.

Almost 3000 new UK jobs have been announced so far that will be supported by the
construction and operation of Dogger Bank Wind Farm. 

These include up to 750 direct and around 1,500 indirect jobs associated with
the set-up of a new world-class blade manufacturing facility on Teesside by LM
Wind Power, a GE Renewable Energy business, with production due to start in
2023. 

470 jobs are expected to be recruited by GE Renewable Energy across the north
east of England in support of the delivery and operation of all three phases of
the project. These will be made up of around 300 skilled roles for turbine
installation and commissioning activities and 170 servicing roles at Port of
Tyne under GE's five-year Service and Warranty Agreements for Dogger Bank phases
A, B and C once operational. 

At least a further 30 roles will be hired by Equinor as operator of the wind
farm, based at the Port of Tyne or offshore.

130 new full-time UK-based jobs will be created by North Star Renewables in
crewing and shore-based roles for the operation of the three-vessel service
fleet for Dogger Bank Wind Farm.

Up to 100 peak construction jobs will be created by Jones Bros. Civil
Engineering, one of the UK's leading civil engineering contractors, on the
installation of onshore cable infrastructure for Dogger Bank A and B. 

Dogger Bank A and B has confirmed GE's Haliade-X 13MW as the turbine powering
the first two phases of the project. As the first order for the Haliade-X 13MW,
installation at Dogger Bank A will be the first time the turbine is installed in
the world.

Installation of GE's upscaled Haliade-X 14MW turbine at Dogger Bank C will be
the first time the 14MW turbine is installed in the world.

One rotation of the Haliade-X turbine blades can power one UK home for more than
two days.

The wind turbines will be installed on monopile foundations.

The project will be the first High Voltage Direct Current (HVDC) connected wind
farm in the UK due to its distance from shore, introducing new transmission
systems to the UK and paving the way for other large offshore wind farms.

For more information about Dogger Bank Wind Farm visit www.doggerbank.com