Company Disclosures

OTL – Odfjell Technology secures platform drilling contract with Equinor

Published 14.03.2024

We are pleased to announce that Odfjell Technology (OTL) has received a Letter
of Award from Equinor Energy AS for Drilling services on fixed platforms on the
Norwegian Continental Shelf:

o Johan Sverdrup – option exercised
o Grane – new award in OTL’s portfolio
o Visund – new award in OTL’s portfolio
o Heidrun – option not exercised

The award of the work is based on limited competition on parts of a contract
awarded by Equinor Energy AS in 2018 for drilling, completion and intervention
services including P&A, maintenance, and modifications.

“This award will increase our contract portfolio with one additional platform
operation. We are pleased at the trust placed in us by Equinor Energy AS and
look forward to continuing to deliver safe and efficient services”, says Kurt
Meinert Fjell, EVP Operations in Odfjell Technology.

Contract commencement is 1 October 2024 and duration is 4 years fixed with an
option of 1 x 2 years. This award will increase our backlog with approximately
NOK 2 billion.

For further queries, please contact:

Gillian Basson,
Corporate Secretary
+44 (0) 7796 547 889
Aberdeen, United Kingdom

Gert Haugland,
SVP Finance &Investor Relations
+47 92661638

14 March 2024
Odfjell Technology Ltd

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

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