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Regulatory press release

Frøy ASA - Q2 2023

Frøy
Frøya, 31 August 2023: 

Frøy ASA ("Frøy") reports strong operations and high activity in the wellboat
segment and a somewhat slower seasonal increase in activity in the service
segment in Q2 2023.

Highlights from Q2 23:

o Revenues of NOK 518 million vs. Q2 22 NOK 507 million
o EBITDA of NOK 171 million vs. Q2 22 NOK 154 million
o EBITDA excl. gain/loss from sale of vesels of NOK 172 million vs. Q2 22 NOK
153 million
o Backlog 30.06.23 of approx. NOK 6 billion including options
o Net interest-bearing debt 30.06.23 of approx. NOK 4.4 billion vs. Q2 22 NOK
3.7 billion

Please find FrøyŽs quarterly report attached.

For further information, please contact:

Tonje Foss, CEO +47 996 10 116
Sondre Vevstad, CFO +47 936 54 555


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

This stock exchange announcement was published by Sondre Vevstad CFO in Frøy ASA
on 31 August 2023 at 07:00 CET.
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