Report for 1st Quarter 2022

Eidesvik Offshore ASA (“Eidesvik” or the “Company”) reports its results for the 1st Quarter 2022. The report is attached to this notification and available for download from the Company’s website

– Consolidated EBITDA of MNOK 5.4, compared to MNOK 13.7 in 1st Quarter 2021
– Entered into a Memorandum of Agreement with Dredging, Environmental and Marine Engineering NV (DEME), for the sale of the CSV Viking Neptun. Expected delivery is 4th Quarter 2022
– Contract with PXGEO UK Ltd for Subsea Viking
– Bareboat contract for Veritas Viking
– Contract with Equinor Energy AS for Viking Prince

In the 1st Quarter 2022 the Company had consolidated operating income of MNOK 109.1 (MNOK 109.6 in the corresponding period in 2021). Operating result before depreciations (EBITDA) was MNOK 5.4 (MNOK 13.7). Operating result (EBIT) was MNOK -29.4 (MNOK -74.3). Result from joint ventures was MNOK -2.6 (MNOK -1.2). Net financial items were MNOK 19.8 (MNOK -22.1). Result after tax amounted to MNOK -9.6 (MNOK -96.4).

Bømlo, May 19, 2022

CEO Gitte Gard Talmo (+47 915 23 245)
CFO Tore Byberg (+47 475 09 012)

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