Bergen, 5 January 2024:  Scana-owned PSW Technology has signed a contract to
perform property management, operations, and maintenance of a larger real estate
portfolio at Mongstad, Ågotnes, and Bergen Nord. The contract will be placed in
a subsidiary of PSW Technology. The purpose of this new company is to manage,
operate, and maintain strategically important properties associated with coastal
bases along the Norwegian coastline. 

The contract is of large (3) value for the company and has a duration of 10
years, with a mutual notice period of one year. The contract is scheduled to
commence from Q1 2024.

"This contract enables PSW Technology to further develop and expand its
portfolio with long-term agreements and optimize the utilization of its
capacity. It also gives a crucial foothold and a strategically important
position along the Norwegian coast," says Richard Cornell, Managing Director in
PSW Technology.

"We are very pleased to sign a contract contributing to an increased order
backlog and providing stable revenues over time," says Pål Selvik, CEO in Scana.


(1) A sizeable contract is defined to be between NOK 20 million and NOK 50
million. 
(2) A substantial contract is between NOK 50 million and NOK 150 million. 
(3) A large contract is over NOK 150 million.


For more information, please contact:
Pål Selvik, Chief Executive Officer, Scana ASA, +47 970 46 502
Richard Cornell, Managing Director, PSW Technology AS, +47 952 31 652

PSW in brief
PSW is a supplier of products, systems and services to energy companies and the
maritime industry. The company's multidisciplinary expertise, state-of-the-art
facilities and strategic partnerships enables the company to meet industry
requirements and customer challenges with safe, dependable, and cost-effective
solutions. psw.no

Scana in brief
Scana is a listed industrial owner company in the ocean industries creating
value through active ownership in market-leading portfolio companies. Scana is
headquartered in Bergen and has around 500 employees. www.scana.no

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© Oslo Bors ASA, source Oslo Stock Exchange