Eidesvik Offshore (EIOF) Pareto Securities' 32nd Annual Energy Conference Presentation summary

Company overview and strategy

• Operates 16 vessels, including two under construction, with 437 employees as of end FY2024.

• Focuses on supply, subsea & offshore, and wind segments, with a contract backlog of MNOK 3,391.

• Strategic priorities include leadership in green PSV, expanding offshore wind presence, and forming long-term partnerships.

• Emphasizes long-term positive cash flows and profitable contracts.

Fleet and technology initiatives

• Two new state-of-the-art vessels entering the market in 2026 and 2027, both secured on long-term contracts and equipped with advanced green technology.

• "Viking Energy" will be the world’s first ammonia-powered PSV, reducing greenhouse gas emissions by over 70%.

• Implementation of energy efficiency solutions, including advanced heating/cooling systems and transit optimization, with significant LNG savings.

• Fleet includes LNG dual fuel, battery hybrid, and methanol dual fuel vessels, supporting the energy transition.

Partnerships and joint ventures

• Joint ventures with Subsea7 (Seven Viking), Reach Subsea (Viking Reach), and Agalas (two CSVs under construction), all with long-term contracts and management control.

• Partnerships are central to expanding subsea and IMR capabilities and securing vessel utilization.