Integrated Wind Solutions ASA ("IWS") is pleased to announce that it has,
through its fully owned subsidiary, IWS Fleet AS, entered into shipbuilding
contracts for the construction of two Walk-to-Work Commissioning Service
Operations Vessels ("CSOV"). The vessels are scheduled for delivery in H1 2024
from China Merchants Industry, Hong Kong. Currently IWS has two identical
vessels on order for delivery in 2023 and option agreements for up to two
additional vessels for potentially H2 2024 delivery. 

The firm yard price for the two vessels is about EUR 48m per vessel.
Approximately 50% of the vessel value is related to Norwegian export companies
providing advanced technology ensuring safe and efficient operations during
operations of the vessel.

After delivery, IWS will have a fleet of four identical Skywalker class vessels
designed specifically to support commissioning works during the construction of
wind farms, as well as supporting operations and maintenance during the lifetime
of offshore wind farms, bottom fixed and floating.

"We are very pleased to expand our fleet by another two vessels which will be
uniquely positioned for a strong and growing offshore wind market when delivered
in 2024. We do see increased interest in our vessels and the integrated services
that IWS provides, as demonstrated by the charter contracts with Dogger Bank
Offshore Windfarm. This newbuilding order is a further step towards our ambition
of providing efficient services to the offshore wind industry" says Lars-Henrik
Røren, CEO of Integrated Wind Solutions ASA. 

The first vessel of this class, IWS Skywalker, will directly after delivery
commence its first out of two firm contracts at the Dogger Bank Wind Farm in
summer 2023. Furthermore, IWS has been notified by Dogger Bank Wind Farm that
they intend to sign a third charter contract for one of IWS' Skywalker class
vessels with commencement in 2025. Dogger Bank Wind Farm is owned by SSE,
Equinor, and ENI.

These hybrid powered vessels will be among the first vessels in the industry
capable of zero-emission operations. The vessels are designed by Kongsberg
Maritime and equipped with the latest generation fully compensated gangway and
3d crane. The vessels have several "industry firsts", such as the largest
battery pack with solar panels for additional charging, hull and propulsion
design increasing operability and reducing emissions, and an energy consumption
estimated to be 20% lower than comparable CSOVs currently under construction.
The vessels are also the first in the industry to have the "DNV SILENT"
notation, which focuses on minimising the impact on marine life below water. The
vessels' advanced technology will reduce annual emissions by more than 1,300t
CO2 equivalents per vessel.
 
For further information, please contact: 
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: 
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 levelized cost of energy (LCOE) for offshore wind. The Company has four
UT5519DE Design Wind Farm Support Vessels under construction with delivery in
2023 and 2024, and options for up to two additional sister vessels. Furthermore,
Integrated Wind Solutions 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, both
with headquarters in Denmark. Integrated Wind Solutions are headquartered in
Oslo, Norway. For more information, see the company website:
www.integratedwind.com