Integrated Wind Solutions ASA ("IWS") has today published its Q1 2023 Financial
Report and Presentation.

HIGHLIGHTS
oTotal revenue of NOK 64m for Q1 2023, an increase of 25% from Q1 2022.
oIWS Services revenue of NOK 61.7m in Q1 2023, an increase of 24% from Q1 2022.
oPEAK Wind revenue in Q1 2023 increased by more than 40% compared with Q1 2022.
The Group's share of the net profit in PEAK Wind in Q1 2023 was NOK 2.7m, before
NOK -0.9m amortisation of acquisition-related intangible assets (NOK 2.1m before
-0.8m amortisation of intangibles in Q1 2022).
oTotal EBITDA of NOK -11m for Q1 2023 compared with NOK -7m in Q1 2022,
reflecting the higher activity level of an organisation with six vessels on
order (four vessels on order at the end of Q1 2022).
oEntered into newbuilding contracts with China Merchants Industry Holdings Co.
for the construction of two additional CSOVs with a firm yard price of EUR 52.5m
and with scheduled delivery in Q2 2025. IWS will have a fleet of six identical
Skywalker class vessels when delivered. The Group has also secured options for
two additional vessels. 
oSuccessfully completed a private placement of NOK 350m in January 2023 by
issuing 10,606,060 shares at a subscription price of NOK 33 per share.
oThe Company agreed on a term sheet for a Green Senior Secured Credit Facility
with Skandinaviska Enskilda Banken AB ("SEB"), SpareBank 1 SR-Bank ASA ("SR
Bank") and Export Finance Norway ("Eksfin") for the debt financing of IWS
Seawalker and IWS Starwalker. Upon signing, the first four vessels will have
secured bank financing.
oContinued strong market for CSOVs with increased charter rates and newbuilding
prices, improving the first-mover advantage of early market entrants.

Company contacts:
Lars-Henrik Røren
CEO Integrated Wind Solutions
Phone: +47 98 22 85 06
E-mail: lhr@integratedwind.com

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

About:
Integrated Wind Solutions ASA offers a fleet of state-of-the-art service vessels
to the offshore wind industry combined with a suite of adhering services to
reduce the levelised cost of energy ("LCOE") for offshore wind. The Company has
six Commissioning Service Operation Vessels ("CSOVs") under construction with
delivery in 2023, 2024 and 2025 in addition to options for two additional
vessels. Furthermore, IWS owns the offshore wind supply-chain service company,
IWS Services A/S and has a 30% ownership in the independent advisor,
consultancy, data intelligence and wind farm operator firm PEAK Wind Group.

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.