Integrated Wind Solutions ASA ("IWS") has today published its Q3 2023 Financial Report and Presentation. HIGHLIGHTS oTotal revenue ofNOK 63.1m for Q3 2023, an increase of 7% from Q3 2022. oIWS Services revenue ofNOK 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 wasNOK 2.2m , beforeNOK -1.0m amortisation of acquisition-related intangible assets (NOK -0.2m loss beforeNOK -1.0m amortisation of intangibles in Q2). oTotal EBITDA ofNOK -4.3m for Q3 2023 compared withNOK -11.6m in Q2 2023 andNOK -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 withPan 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 CEOIntegrated Wind Solutions Phone: +47 98 22 85 06 E-mail: lhr@integratedwind.com Marius Magelie CFOIntegrated 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 firmPEAK Wind Group . This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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