INTEGRATED WIND SOLUTIONS Integrated Wind Solutions ASA ("IWS") has today published its Q4 2023 Financial Report and Presentation. HIGHLIGHTS oTotal revenue ofEUR 6.5m for Q4 2023, an increase of 26% from Q4 2022. oIWS Services revenue ofEUR 6.0m in Q4 2023, an increase of 19% from Q4 2022, with increased order backlog. oPEAK Wind continues its strong growth with an increase in net revenue for Q4 by 46% compared with Q4 2022 (+31% for the full year). The Group's share of the net profit in Q4 2023 wasEUR 0.3m , beforeEUR -0.1m amortisation of acquisition-related intangible assets. IWS has recognised a fair value gain ofEUR 1.2m on its fixed-price option to acquire an additional 19% of the voting shares, which is reported within finance income. oGroup EBITDA ofEUR -0.2m for Q4 2023 compared withEUR -0.4m in Q3 2023 andEUR -0.4m in Q4 2022. oIWS Fleet took delivery of IWS Skywalker on 12 December. The vessel arrived inDenmark in February and is undergoing final quayside preparations before commencing its first contract at theDogger Bank Wind Farm . oIWS Fleet has entered a strategic cooperation with Havfram Wind AS to provide technical management services to Havfram Wind's two state-of-the-art Wind Turbine Installation Vessels ("WTIVs") with scheduled delivery in 2025. oIWS Fleet has entered into (i) a three-year frame term agreement starting in 2025 withSiemens Gamesa Renewable Energy A/S - the minimum commitment covers about 1,300 days with a revenue backlog ofEUR 51-55m , (ii) a time charter contract at market terms with Asso.subsea, which will commence in Q4 2024/Q1 2025 and have a duration of up to eight months, and (iii) a time charter contract at market terms for a minimum of 4 months that will start at the end ofMay 2024 withTenneT TSO B.V ., a leading European Transmission System Operator owned by the Dutch government. 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. oIWS has, from Q4 2023, changed the presentation currency of the Group's financial statements from NOK to EUR. The functional currency of the parent company and IWS Fleet subsidiaries was changed from NOK to EUR on 1 October - refer to Note 11. Lars-Henrik Røren, CEO, commented: "For IWS Fleet, we are proud to have IWS Skywalker arriving inEurope , showcasing our commitment to innovation and excellence in the offshore wind space. Our charter contracts are stamps of quality of the Company's ability to deliver high quality, high operability, and flexibility to industry-leading clients. We are eager to commence vessel operations to drive the Group's earnings growth in the next few years. We are also pleased with the development of IWS Services, which delivered a record strong quarter, and PEAK Wind, which continues to grow steadily." 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's first Commissioning Service Operation Vessels ("CSOVs") has arrived inEurope to commence its first charter contract, and the Company has five additional CSOVs under construction with delivery in 2024 and 2025. 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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