Slide 1: Solstad Platform Supply Vessels (PSV) Interim Condensed Combined Carve-out Financial Statements
Slide 2: Contents
Contents Interim Condensed Combined Statements of Comprehensive Income. 02 Interim Condensed Combined Statements of Financial Position 03 Interim Condensed Combined Statements of Changes in Equity 04 Interim Condensed Combined Statements of Cash Flow 05 Notes to the Interim Condensed Combined Financ
Slide 3: Interim Condensed Combined Statements of Comprehensive Income
Sotadoaore PS | nein Coane cebined carve out Financ Stalements forthe tee and sk month ended une 20,2023 2023 2022 «2023-2022 Note 22200 (1ss072) 44sess) (412405) (9495) (@7m) (117395) Ser) Interim Condensed Combined Statements of Comprehensive INCOME Wraucites) arseza) (101900) 239209, (17722) (895
Slide 4: Interim Condensed Combined Statements of Financial Position
‘Sota osore PS | nein Condensed cobined carve out Finan Statements forthe thee nd si month ended une 20,2023 2028 ©2022 Note Interim Condensed — “= Combined Statements aes lft of Financial Position a es (Unaudited) aa oman (NOK 1,000) TOTAL ASSETS eonae sme susoome seas 5s Su77@ 15900 _surrea__sraar
Slide 5: Interim Condensed Combined Statements of Changes in Equity
‘Sota osore PS | nein Condensed cobined carve out Finan Statements forthe thee nd si month ended une 20,2023 Interim Condensed econ ints Combined Statements fer : ar ‘Come z= (77795) of Changes in Equity es — ee as (Unaudited) Equi 2 69275 sa2688 gt 964 (Nox 2,000) =e sj Zeer ge soe ig — 2 — 2 “The
Slide 6: Interim Condensed Combined Statements of Cash Flow
Sota oaore PS | nein Condensed cobined carve out Financ Stalements forthe tee nds month ended une 20,2023 2023 2022 Note Me Sones * d d Result before tax (275 022) (609 345) Interim Condense San ee —— ee Co b in ed State ents Net other fnance income (expenses) 356 426 445.946 Change in other accrual
Slide 7: Notes
Notes Notes to the Interim Condensed Combined Carve-out Financial Statements for the three and six months ended June 30, 2023 (NOK 1,000)
Slide 8: NOTE - General
NOTE 1 - General (On March 7, 2023 Salstad Offshore ASA [‘SOFF ASA") sgnad an agreement with the US, based Tidewater Inc. fr the sale ofthe activity connected to 37 Platform Supply Vessels (PSV), underiving ‘contracts and cre, hare forth referred to asthe ‘carve-out busines’ o Entity, for total amou
Slide 9: Revenue recognition note
‘Sota osore PS | nein Condesa corbined carve out Financial Statements forthe thee nd si month end une 30,2023 ‘The Entty’s revenues are mainly derived from offering vessels and maritime personnel to customers \worlswide. Almost all contract with customers are contracts with day rate. A contract with
Slide 10: Interest bearing liabilities
2023 2006 ives bearng tabi 560 608 Total interest bearing debt 460904 5460 908 Curent orton ot np tem det Book value of pledged assets: ‘All owned vessels were placed as security forthe mortgages bythe end of the second quarter. The loans ‘were sructured inthe SOFF ASA group unt the sale ofthe PSVS.
Slide 11: Impairment note
recognized impairment losses are reversed ifthere are any changes tothe estimates of the recoverable ‘amount. Reversals of previous impairments are limited tothe book value ofthe asset its value had not been impaired Management has assessed the total activity connected to the carve out business as o
Slide 12: Signing of interim condensed combined carve-out financial statements
‘Sota Oaore PS | nein Condensed combined carve out Finan Statements forthe thee nd si month ended une 30,2023 Signing of interim condensed combined carve-out financial statements for the three and six months ended June 30, 2023 We confirm that the Interim Condensed Combined Carve-out Financial State