22.2.2022 13:50:11 CET | Nekkar ASA | Additional regulated information required
to be disclosed under the laws of a member state

22 February 2022 - Nekkar ASA's wholly owned subsidiary Syncrolift AS has been
awarded a contract to upgrade a shiplift and transfer system that is installed
at an undisclosed Egyptian shipyard.

The contract is worth approximately USD 3.5 million.

 Syncrolift's scope of work includes upgrading a current shiplift and transfer
system. Installation of the Syncrolift Fluid bed technology, enables the
customer to handle a higher variety of ships.

"Installing a fluid bed transfer system is a smart and cost-efficient way of
expanding the number of different vessel types the shipyard can receive, but
without having to make huge investments in new infrastructure," says Rolf-Atle
Tomassen, managing director of Syncrolift and head of Nekkar's Shipyard
Solutions business area.

In 2019, Nekkar initiated a project to generate more aftersales and service
revenues from its extensive global installed base of ship lifts and transfer
systems. Syncrolift has a large installed base of shiplifts and ship transfer
systems at Egypt's many shipyards.

"This upgrade contract is a result of our concentrated effort to increase
revenues from upgrades and aftersales. It is also strategically important as the
upgrade provides the shipyard in question with a competitive advantage versus
other yards in the region. This could open up further opportunities for
Syncrolift at other Egyptian shipyards," says Preben Liltved, CEO of Nekkar.

 Syncrolift will conduct all engineering and project management from its
headquarters in Vestby, Norway. All equipment will be delivered in 2023.

DISCLOSURE REGULATION

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

CONTACTS

 * Preben Liltved, CEO, +47 480 62 691, IR@Nekkar.com 

ABOUT NEKKAR ASA

Nekkar (OSE: NKR) is an industrial technology group offering impact technologies
combined with high-end software solutions. The group combines 50 years' heritage
from the world's number one shiplift company, Syncrolift, with new investments
into sustainable, digitalised technology businesses that aim to unlock growth
within ocean-based industries such as offshore energy and renewables and
aquaculture.