Report for 2nd Quarter 2022

Eidesvik Offshore ASA (the “Company”) reports its results for the 2nd Quarter 2022. The report is attached to this notification and available for download from the Company’s website https://www.eidesvik.no.

HIGHLIGHTS IN 2nd QUARTER 2022
– Consolidated EBITDA of MNOK 75.1, compared to MNOK 53.2 in 2nd Quarter 2021

SUBSEQUENT EVENTS
– Contract with Aker BP for Viking Prince
– Contract with undisclosed client for Subsea Viking
– 5-year contract with Van Oord for Subsea Viking
– Ship management agreement with Deme for Viking Neptun

FINANCIAL RESULTS
In the 2nd Quarter 2022 the Company had consolidated operating income of MNOK 185.1 (MNOK 157.6 in the corresponding period in 2021). Operating result before depreciations (EBITDA) was MNOK 75.1 (MNOK 53.2). Operating result (EBIT) was MNOK 38.8 (MNOK -1.0). Result from joint ventures and associated companies was MNOK -1.2 (MNOK -1.5). Net financial items were MNOK -139.7 (MNOK -21.3), whereof a negative effect of MNOK -126.6 was mainly due to NOK weakening against USD. Result after tax amounted to MNOK -100.9 (MNOK -22.3).

Bømlo, August 30, 2022

Contacts:
CEO Gitte Gard Talmo (+47 915 23 245)
Interim CFO Lars Tufteland Engelsen (+47 476 34 045)

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