NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR
INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN, HONG KONG OR THE UNITED STATES OR ANY
OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE
UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE
SECURITIES DESCRIBED HEREIN. 

Integrated Wind Solutions ASA - Contemplated private placement

Oslo, 21 March 2022: Integrated Wind Solutions ASA ("IWS" or the "Company") has
engaged Skandinaviska Enskilda Banken AB (publ) ("SEB") and SpareBank 1 Markets
AS ("SB1M", and together with SEB, the "Managers") to advise on and effect a
contemplated private placement of new shares in the Company (the "Offer Shares")
to raise gross proceeds of up to NOK 350 million (the "Private Placement"). The
price per Offer Share has been set at a fixed price of NOK 32.00 (the
"Subscription Price"). The number of shares to be issued in the Private
Placement will be determined by the board of directors of the Company (the
"Board") on the basis of an accelerated bookbuilding process to be conducted by
the Managers.

The proceeds from the Private Placement will be used to finance the equity
required for construction of two additional high-end Commissioning Service
Operation Vessels (contracted against the exercise of options,), further
investments into the Company's integrated services offering and general
corporate purposes including transaction costs.

The Company's largest shareholder, Awilco AS (represented on the Board by
Jens-Julius Ramdahl Nygaard), has pre-committed to subscribe for Offer Shares
for NOK 250 million in the Private Placement, and will be allocated Offer Shares
for minimum NOK 200 million. QVT Financial LP (represented on the Board by Dan
Gold), owning 7.14% of the outstanding shares in the Company, has pre-committed
to subscribe for and will be allocated their pro-rata share of ~NOK 25 million
in the Private Placement. The CEO, COO, CFO and Chairman, will subscribe for and
be allocated Offer Shares for an aggregate amount of approximately NOK 7.75
million.

The bookbuilding period in the Private Placement will commence today, 21 March
2022, at 16:30 hours CET and close on 22 March 2022 at 08:00 hours CET. The
Company and the Managers may, however, at any time resolve to extend or shorten
the bookbuilding period on short or no notice. If the bookbuilding period is
extended or shortened, any other dates referred to herein may be amended
accordingly.

The Private Placement will be directed towards selected Norwegian and
international investors, in each case subject to and in compliance with
applicable exemptions from relevant prospectus, filing and other registration
requirements. The minimum application and allocation amount in the Private
Placement has been set to the NOK equivalent of EUR 100,000. The Company may,
however, at its sole discretion, allocate an amount below EUR 100,000 to the
extent applicable exemptions from the prospectus requirement pursuant to the
Norwegian Securities Trading Act and ancillary regulations (including Regulation
(EU) 2017/1129) are available, including to employees and directors of the
Company and the Company group.

The Private Placement will be divided into two tranches. The first tranche will
consist of up to 8,800,349 Offer Shares ("Tranche 1" and the "Tranche 1 Offer
Shares"), which equals the number of shares the Board may issue based on the
current outstanding authorisation to issue new shares granted by the ordinary
general meeting of the Company on 24 June 2021 (the "Authorisation"). The second
tranche will consist of a number of Offer Shares up to the remaining 2,137,151
Offer Shares in order to raise total gross proceeds of up to NOK 350 million
("Tranche 2" and the "Tranche 2 Offer Shares"). Issuance of the Tranche 2 Offer
Shares will be subject to approval by an extraordinary general meeting of the
Company expected to be held on or about 5 April 2022 (the "EGM").

Allocation of Offer Shares will be determined by the Board, at its sole
discretion, in consultation with the Managers, following the expiry of the
bookbuilding period. Awilco AS has agreed to be allocated the Tranche 2 Offer
Shares, and, as such, other subscribers in the Private Placement will be
allocated Tranche 1 Offer Shares.

Settlement of the Tranche 1 Offer Shares (other than Tranche 1 Offer Shares
allocated to Awilco AS) is expected to take place on or about 24 March 2022 on a
delivery versus payment basis by delivery of existing and unencumbered shares in
the Company that are already listed on Euronext Growth Oslo pursuant to a share
lending agreement (the "Share Lending Agreement") expected to be entered into
between the Company, Awilco AS and the Managers. The Tranche 1 Offer Shares
issued pursuant to the Authorisation will be used to settle the share borrowing
from Awilco AS made under the Share Lending Agreement as well as for delivery of
Tranche 1 Offer Shares subscribed for by Awilco AS. 

Completion of Tranche 1 is subject to necessary corporate resolutions by the
Board required to consummate Tranche 1 of the Private Placement, including final
approval by the Board of the Private Placement and issuance of the Tranche 1
Offer Shares. Completion of Tranche 2 is subject to (i) completion of Tranche 1,
(ii) the EGM resolving to issue the Tranche 2 Offer Shares and (iii) the
registration of the share capital increase pertaining to the Tranche 2 Offer
Shares with the Norwegian Register of Business Enterprises and the Tranche 2
Offer Shares being registered in the VPS. Completion of Tranche 1 will not be
conditional upon or otherwise affected by the completion of Tranche 2, and the
applicants' acquisition of Tranche 1 Offer Shares will remain final and binding
and cannot be revoked, cancelled or terminated by the respective applicants if
Tranche 2, for whatever reason, is not completed. Investors that are allocated
shares in the Private Placement undertake to vote in favour of Tranche 2 at the
EGM. 

The Company reserves the right to, at any time and for any reason prior to
delivery of Tranche 1 Offer Shares, to cancel the Private Placement  and/or to
modify the terms of the Private Placement. Neither the Company nor the Managers
will be liable for any losses incurred by applicants if the Private Placement is
cancelled, irrespective of the reason for such cancellation.

The Private Placement represents a deviation from the shareholders' pre-emptive
right to subscribe for the Offer Shares. The Board has considered the Private
Placement in light of the equal treatment obligations under the Norwegian Public
Limited Companies Act, the Norwegian Securities Trading Act, the rules on equal
treatment under Oslo Rule Book II for companies admitted to trading on Euronext
Growth Oslo and the Oslo Stock Exchange's Guidelines on the rule of equal
treatment, and deems that the proposed Private Placement is in compliance with
these obligations. The Board is of the view that it will be in the common
interest of the Company and its shareholders to raise equity through a private
placement, particularly in light of the current market conditions and the growth
opportunities currently available to the Company. By structuring the equity
raise as a private placement, the Company is expected to raise equity
efficiently, with a lower discount to the current trading price, at a lower cost
and with a significantly reduced completion risk compared to a rights issue.
 
The Company may, subject to completion of the Private Placement and certain
other conditions, consider a subsequent repair offering of new shares (the
"Subsequent Offering") at the Subscription Price in the Private Placement and
otherwise in line with market practice. Shareholders who were included in the
pre-sounding phase of the Private Placement and/or who were allocated shares in
the Private Placement will not be eligible to participate in the Subsequent
Offering. The Company reserves the right in its sole discretion to not conduct
or to cancel the Subsequent Offering.

Advokatfirmaet Wiersholm AS is acting as legal counsel to the Company in
connection with the Private Placement. Advokatfirmaet Grette AS is acting as
legal counsel to the Managers in connection with the Private Placement.

For more information, please contact: 

Lars-Henrik Røren, CEO Integrated Wind Solutions 
+47 98 22 85 06 
lhr@integratedwind.com

Marius Magelie, CFO Integrated Wind Solutions 
Phone: +47 920 27 419 
E-mail: mm@integratedwind.com

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to section 5-12 the Norwegian Securities Trading Act. This stock exchange
announcement was published by Marius Magelie, CFO on 21 March 2022 at 16:30 CET
on behalf of the Company.

Important notice:

This announcement is not and does not form a part of any offer to sell, or a
solicitation of an offer to purchase, any securities of the Company. Copies of
this announcement are not being made and may not be distributed or sent into any
jurisdiction in which such distribution would be unlawful or would require
registration or other measures.
The securities referred to in this announcement have not been and will not be
registered under the U.S. Securities Act of 1933, as amended (the "Securities
Act"), and accordingly may not be offered or sold in the United States absent
registration or an applicable exemption from the registration requirements of
the Securities Act and in accordance with applicable U.S. state securities laws.
The Company does not intend to register any part of the offering in the United
States or to conduct a public offering of securities in the United States. Any
sale in the United States of the securities mentioned in this announcement will
be made solely to "qualified institutional buyers" as defined in Rule 144A under
the Securities Act.

In any EEA Member State, this communication is only addressed to and is only
directed at qualified investors in that Member State within the meaning of the
Prospectus Regulation, i.e., only to investors who can receive the offer without
an approved prospectus in such EEA Member State. The expression "Prospectus
Regulation" means Regulation (EU) 2017/1129 as amended (together with any
applicable implementing measures in any Member State.

This communication is only being distributed to and is only directed at persons
in the United Kingdom that are (i) investment professionals falling within
Article 19(5) of the Financial Services and Markets Act 2000 (Financial
Promotion) Order 2005, as amended (the "Order") or (ii) high net worth entities,
and other persons to whom this announcement may lawfully be communicated,
falling within Article 49(2)(a) to (d) of the Order (all such persons together
being referred to as "relevant persons"). This communication must not be acted
on or relied on by persons who are not relevant persons. Any investment or
investment activity to which this communication relates is available only for
relevant persons and will be engaged in only with relevant persons. Persons
distributing this communication must satisfy themselves that it is lawful to do
so.

Matters discussed in this announcement may constitute forward-looking
statements. Forward-looking statements are statements that are not historical
facts and may be identified by words such as "believe", "expect", "anticipate",
"strategy", "intends", "estimate", "will", "may", "continue", "should" and
similar expressions. The forward-looking statements in this release are based
upon various assumptions, many of which are based, in turn, upon further
assumptions. Although the Company believe that these assumptions were reasonable
when made, these assumptions are inherently subject to significant known and
unknown risks, uncertainties, contingencies and other important factors which
are difficult or impossible to predict, and are beyond their control. Such
risks, uncertainties, contingencies and other important factors could cause
actual events to differ materially from the expectations expressed or implied in
this release by such forward-looking statements. The Company does not make any
guarantee that the assumptions underlying the forward-looking statements in this
announcement are free from errors nor does it accept any responsibility for the
future accuracy of the opinions expressed in this announcement or any obligation
to update or revise the statements in this announcement to reflect subsequent
events. You should not place undue reliance on the forward-looking statements in
this announcement. 

The information, opinions and forward-looking statements contained in this
announcement speak only as at its date, and are subject to change without
notice. The Company does not undertake any obligation to review, update,
confirm, or to release publicly any revisions to any forward-looking statements
to reflect events that occur or circumstances that arise in relation to the
content of this announcement.

Neither the Managers nor any of their affiliates makes any representation as to
the accuracy or completeness of this announcement and none of them accepts any
responsibility for the contents of this announcement or any matters referred to
herein.

This announcement is for information purposes only and is not to be relied upon
in substitution for the exercise of independent judgment. It is not intended as
investment advice and under no circumstances is it to be used or considered as
an offer to sell, or a solicitation of an offer to buy any securities or a
recommendation to buy or sell any securities of the Company. Neither the
Managers nor any of its affiliates accepts any liability arising from the use of
this announcement.

The distribution of this announcement and other information may be restricted by
law in certain jurisdictions. Persons into whose possession this announcement or
such other information should come are required to inform themselves about and
to observe any such restrictions.