Integrated Wind Solutions ASA ("IWS") has today published its Q3 2023 Financial
Report and Presentation.

HIGHLIGHTS
oTotal revenue of NOK 63.1m for Q3 2023, an increase of 7% from Q3 2022.
oIWS Services revenue of NOK 60.9m in Q3 2023, an increase of 5% from Q3 2022,
with increased order backlog.
oPEAK Wind continues to grow according to expectations and net revenue for Q3
increased by 17% compared with Q3 2022 (+26% year to date). The Group's share of
the net profit in PEAK Wind in Q3 2023 was NOK 2.2m, before NOK -1.0m
amortisation of acquisition-related intangible assets (NOK -0.2m loss before NOK
-1.0m amortisation of intangibles in Q2).
oTotal EBITDA of NOK -4.3m for Q3 2023 compared with NOK -11.6m in Q2 2023 and
NOK -4.2m in Q3 2022. The Group is ramping up for the delivery of the CSOVs and
has established a full technical and operating team through the quarter.
oIWS has signed a strategic partnership agreement with Pan Ocean to market our
fleet for commissioning and maintenance work in the growing South Korean
offshore wind market.
oIWS Fleet has entered into a time charter contract at market terms with
Asso.subsea in the construction phase, including inter-array cable works. The
contract will commence in Q4 2024/Q1 2025 and will have a duration of up to
eight months. IWS has the option under the contract to nominate which Skywalker
class vessel will perform the services.
oThe CMI shipyard successfully launched IWS Seawalker and IWS Starwalker on 30
October. With these two additions, IWS Fleet now has four vessels on the water.
oThe Company has published its first Green Financing Framework. The second party
opinion provider, S&P Global Ratings, has assessed the framework as Medium
Green.

Lars-Henrik Røren, CEO, commented: "We are excited to take delivery of our first
vessel, IWS Skywalker, within weeks. This marks the first of many important
deliveries over the next two years. The Q3 financial report shows improvements
from Q2 driven by IWS Services and PEAK Wind. The offshore wind industry is
still in its early days, and we look forward to continue the IWS journey and
contributing to a more sustainable future. We are ready!"

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.