The first steel has been cut for Integrated Wind Solutions ASA ("IWS") second
Construction Service Operation Vessel at the China Merchants Heavy Industry
facility in Jiangsu, China. The ceremony held 1st of March 2022 marks another
major milestone in bringing the series of IWS Fleet's offshore wind service
vessels into the offshore wind market. The vessel will be named IWS Windwalker,
and the steel cutting was conducted 10 days ahead of the initial project plan.
The first vessel of the class, IWS Skywalker, had its steel cutting conducted
14th of January 2022, in accordance with its separate project plan.

IWS Windwalker is the second vessel in the IWS Fleet's Skywalker class and is
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.
 
These hybrid powered vessels will be some of 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
crane from MacGregor. The vessel has several "industry firsts" having 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 other CSOV's currently under
construction. The vessels are also the first in the industry to have the "DNV
SILENT" notation, which focuses on minimizing the impact on marine life below
water. Norwegian Ministry of Climate and Environment (ENOVA) has granted EUR 1
million per vessel to support the environmental initiatives on IWS Skywalker and
IWS Windwalker. The vessels advanced technology will reduce annual emissions by
more than 1,300t CO2 equivalents per vessel. 
  
"We are very pleased to achieve this important milestone for our second vessel
in the Skywalker class which will be ready for operations mid-2023. IWS
Windwalker will follow its sister vessel IWS Skywalker and take the industry to
new heights as it pushes the boundaries of operability, environmental impact and
efficiency" says Christopher A. Heidenreich, COO of the Integrated Wind
Solutions ASA. 

IWS Windwalker is currently uncommitted, and the company is evaluating several
potential opportunities. The first vessel of this class, IWS Skywalker, will
directly after delivery commence its first contract at the Dogger Bank Wind Farm
in summer 2023. Dogger Bank Wind Farm is owned by SSE, Equinor, and ENI. To
support the strong market demand for this type of vessels, IWS Fleet is in
dialog for ordering additional vessels of the Skywalker class for delivery early
2024. 

About Integrated Wind Solutions ASA: 
IWS Fleet is a fully owned subsidiary of Integrated Wind Solutions ASA (ticker
code: IWS). IWS Fleet 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 two UT5519DE
Design Wind Farm Support Vessels under construction with delivery in 2023, and
options for up to four additional sister vessels with market entrance during
2024. 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 and IWS
Fleet are headquartered in Oslo, Norway. For more information, see the company
website: www.integratedwind.com