Slide 1: Q3 2025 Presentation
Q3 2025 Presentation w/ Lars Peder Solstad, CEO and Kjetil Ramstad, CFO 30 October 2025
Slide 2: Disclaimer
Disclaimer Important information Cautionary note regarding forward-looking statements. This presentation, prepared by Solstad Maritime ASA (the "Company"), may include forward-looking statements relating to the business, financial performance and results of the Company and/or the industry in which i
Slide 3: Q3 2025 Highlights | Business update
Q3 2025 Highlights | Business update Mainly due to lower fleet utilization than expected in 2H 2025, the Company issued a trading update on 9 October 2025 adjusting the full-year Business update 2025 Adjusted EBITDA guidance to approximately USD 290 million The long-term demand within offshore-energ
Slide 4: Market Update
Market Update GLOBAL PRESENCE ▪ The long-term demand within offshore- Office locations energy services remains positive Solstad Offshore supporting offices ▪ Globally, the offshore energy activity remains at a stable level. In 2025, reduced activity in the North Sea has resulted in lower activity fo
Slide 5: Strengthening backlog and earning visibility
Strengthening backlog and earning visibility Firm backlog per year Firm-/option days per year Backlog, order intake and book-to-bill EBITDA OPEX Firm days4 AHTS spot/project fleet Backlog Order intake Book to bill Days Option days Available days USDm USDm 0.4x 1.6x 0.8x 1.8x 1.2x 332 12,000 1,000 96
Slide 6: Solstad Maritime | Q3 Financial Highlights
Solstad Maritime | Q3 25 Financial Highlights 800 NIBD overview as per 30.09.2025, USDm 700 18 (124) 600 28 500 Q3: 80% (89%) Backlog 964 (755) Utilization YTD: 79% (86%) 400 686 300 580 608 200 Q3: 145 (152) Book equity 804 - 48% 100 Revenue YTD: 442 (419) (696 - 42%) 0 Fleet Loan Accrued interest
Slide 7: Updated 2025 financial guiding
Updated 2025 financial guiding Updated 2025 guiding Previous 2025 guiding Approximately USD Adjusted EBITDA1 USD 360 – 380m 290m Tax payable USD 5 – 15m USD 5 – 15m Capex2, of which USD 115 – 125m USD 95 – 125m - Maintenance - USD 95 – 100m - USD 80 – 100m - Investment - USD 20 – 25m - USD 15 – 25m
Slide 8: Dividend key dates
Dividend key dates ▪ Distributes cash dividend for Q3 2025 of USD 0.032/share, totaling USD ~15 million. The dividend will be paid in NOK and the amount in NOK will be announced prior to dividend payment ▪ Key dates regarding Q3 2025 dividend: o Last day incl. right to dividend: 7 November 2025 o Ex
Slide 9: Summary
Summary A quarter influenced by lower utilization for both the CSV and AHTS fleet Tendering activity for 2026 and onwards remains high and indicates several long-term opportunities for the CSV fleet Strong order intake of USD 180 million and increased visibility for 2026 and beyond Continued shareho
Slide 10: Appendix
Appendix
Slide 11: Solstad Maritime | Income Statement & Adjusted EBITDA
Solstad Maritime | Income Statement & Adjusted EBITDA Unaudited 2025 2024 2025 2024 Unaudited 2025 2024 2025 2024 USDm 01.07-30.09 01.07-30.09 01.01-30.09 01.01-30.09 USDm 01.07-30.09 01.07-30.09 1.1-30.09 01.01-30.09 Charter income and EBITDA 61 84 207 209 other operating income 145 152 442 412 Adj
Slide 12: Solstad Maritime | Balance sheet
Solstad Maritime | Balance sheet Unaudited 2025 2024 2024 Unaudited 2025 2024 2024 USDm 3 0 .0 9 3 0 .0 9 3 1 .1 2 USDm 3 0 .0 9 3 0 .0 9 3 1 .1 2 A SSET S EQUIT Y A ND LIA B ILIT IES Non-current as s ets Eq uity Deferred tax asset 53 0 52 Paid-in equity 468 582 560 Tangible fixed assets 1,131 1,048
Slide 13: Solstad Maritime | Cash Flow Statement
Solstad Maritime | Cash Flow Statement Unaudited 2025 2024 2024 USDm 3 0 .0 9 3 0 .0 9 3 1 .1 2 C A SH FLOW FR OM OPER A T IONS Result before tax 124 140 204 Taxes payable (2) 1 1 Ordinary depreciation and write downs 56 41 21 Gain (-)/ loss long-term assets (0) (9) (8) Interest income (15) (16) (24
Slide 14: Alternative Performance Measures (APM)
Alternative Performance Measures (APM) Solstad Maritime ASA refers to alternative performance measures with regards to its financial results as a supplement to the financial statements prepared in accordance with IFRS. Such performance measures are frequently used by securities analysts, investors a