Slide 1: Presentation Q2 2026
Presentation Q2 2026 21 August 2026
Slide 2: Disclaimer
Disclaimer This presentation has been produced by Eidesvik Offshore ASA (the "Company") based on information which is publicly available. This presentation is for information purposes only. Further to the aforementioned, this presentation is the result of an effort of the Company to present certain
Slide 3: Financial highlights / Q2 2026
Financial highlights / Q2 2026 P&L key figures Q2 2026 vs. Q2 2025 Balance sheet key figures Q2 2026 vs. FY 2025 MNOK MNOK MNOK MNOK 204 (198) 2 868 (3 391) 3 667 (3 683) 339 (340) in freight revenue in total backlog incl. share in assets in cash of JV MNOK MNOK 71 (76) 35% (38%) 920 (967) 59% (58%)
Slide 4: Business update / Q2 2026
Business update / Q2 2026 • Eidesvik entered into a new frame agreement with Aker BP for the provision of Platform Supply Vessels (“PSV”). The frame agreement has a duration of four years, with the option of two additional periods of two years each. • Under the new frame agreement, Eidesvik was awar
Slide 5: Operational update / Q2 2026
Operational update / Q2 2026 • Fleet utilisation in Q2 2026 was 95% • Supply utilisation was 92% during the quarter • Subsea/Offshore renewables utilisation was 100% during the quarter • One LTI during the quarter • The retrofit of Viking Energy is progressing well • Dual-fuel propulsion system (amm
Slide 6: Contract backlog / Q2 2026
Contract backlog / Q2 2026 MNOK Renewable backlog as share of total 1 400 2 868 backlog** Contract backlog incl. share of JV* Fixed backlog from renewables projects as share of total backlog 1 200 1 000 Other 800 62% mNOK 600 1 198 400 732 530 200 408 Renewable backlog 38% 0 2026 2027 2028 From 2029
Slide 7: Contract coverage incl. JV / Q2 2026
Contract coverage incl. JV / Q2 2026 100% Contract coverage incl JV 90% 91% 90% 80% 70% 70% 70% 64% 64% 64% 64% 59% 60% 55% 50% 45% 45% 45% 45% 45% 45% 90% 91% 40% 30% 60% 55% 55% 55% 20% 42% 36% 36% 36% 36% 33% 27% 27% 27% 10% 21% 0% Q3 2026 Q4 2026 Q1 2027 Q2 2027 Q3 2027 Q4 2027 Q1 2028 Q2 2028 Q
Slide 8: Market update
Market update The geopolitical instability in the Middle East leading to increased focus on energy security combined with focus 1 on reserve replacement, continues to support offshore investment activity and demand for offshore vessels Supply: The North Sea PSV market strengthened during the quarter
Slide 9: Q2 2026 financial results
Q2 2026 financial results Financial results (NOK1000) Q2 2026* Q2 2025* Q1 2026* YTD2026* YTD2025* FY2025 Freight revenue Freight revenue 204,5 3% 198,5 185,2 389,7 397,3 785,1 204,5 3% Total Revenue 204,5 198,5 183,2 389,7 397,3 785,1 198,5 Personnel expenses 97,2 8% 90,1 92,1 189,4 181,9 357,7 Oth
Slide 10: Segment performance
Segment performance Revenue & EBITDA margin EBITDA Q2 2026 vs. Q2 2025 (incl. share of JV*) 114 60% • Revenue increased by NOK 6.6 million due to 112 increased day rates for several vessels 50% • EBITDA decreased by NOK 0.2 million, 110 where margin decreased from 38% to 36% 40% 108 Supply • Utilisa
Slide 11: Balance sheet
Balance sheet Balance Sheet (NOK1000) 30.06.2026* 31.12.2025 Comments for the year Total non-current assets 3 053 3 065 Cash and cash equivalents 339 340 • Non-current assets flat from year end Other current assets 276 277 Total assets 3 667 3 683 • Cash balance flat from year end Equity 2 164 2 136
Slide 12: Cash flow YTD Q2 2026
Cash flow YTD Q2 2026 600 500 139,5 400 - 68,4 340,5 338,5 NOK 1000 - 73,1 300 200 100 0 Cash 31.12.2025 Operating Investing Financing Cash 30.06.2026* * Unaudited Operating NOK 139.5 million Investing NOK -68.4 million Financing NOK -73.1 million The increase compared to YTD 2025 is Mainly investme
Slide 13: Highlights summary
Highlights summary Quarter impacted by higher utilisation for vessel operating in 1 spot market 2 Improved day rate for PSV fleet 3 100% uptime in the Subsea/Renewable segment 4 Available tonnage in an improving market 5 Continued focus on growth and fleet renewal
Slide 14: Contact details
Contact details CEO - Helga Cotgrove VP IR - Sindre Stovner +47 90 73 52 46 +47 91 78 64 31 investor.relations@eidesvik.no
Slide 15: Appendix
Appendix
Slide 16: Company overview
Company overview THE COMPANY STRATEGY Large PSV • Seek and evaluate vessels that fits with the EIOF profile for additions to the fleet 16 ~450 Subsea/Offshore renewables • Increase IMR fleet with dual use capabilities VESSELS* EMPLOYEES within offshore renewable * Whereof two under construction Key
Slide 17: Energy transition fleet
Energy transition fleet Viking Avant Viking Energy Viking Prince NS Orla Build: 2004 Build: 2003 Build: 2012 Build: 2014 Owned: 100% Owned: 100% Owned: 100% Owned: Mgmt. Deck m2: 1010 Deck m2: 1030 Deck m2: 1050 Deck m2: 860 Supply Viking Queen Viking Lady Viking Princess NS Frayja Build: 2008 Build
Slide 18: Contract status
Contract status Vessel Q3 2026 Q4 2026 Q1 2027 Q2 2027 Q3 2027 Q4 2027 Q1 2028 Q2 2028 Q3 2028 Q4 2028 Q1 2029 Q2 2029 Seven Viking Viking Reach Sold Subsea Viking Viking Wind Power TBN I "Viking Vigor" TBN II Viking Queen Viking Lady Viking Princess Viking Prince Viking Energy Viking Avant Firm Opt
Slide 19: Debt maturity profile 30 June 2026
Debt maturity profile 30 June 2026 200 97 97 97 97 Million NOK 100 60 54 0 2026 2027 2028 2029 After 2029 Instalments Balloons* * The remaining outstanding debt related to Viking Reach will be repaid in full at delivery of vessel. In addition, Eidesvik Agalas AS has drawn EUR 42.3 million on its con
Slide 20: Financial development
Financial development FY2023 FY2024 FY 2025 YTD 2026* Adjusted EBITDA Utilization 94 % 96 % 97 % 95 % 350,0 37% 38% 37% 40% Revenue (NOKm) 772 775 785 390 33% Adj. Revenue (NOKm) 699 759 785 390 300,0 35% Adj. EBITDA (NOK million) EBITDA (NOKm) 334 304 294 129 30% Adj. EBITDA margin 250,0 EBITDA mar