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AMSC ASA - Second quarter and half-year 2024 Report

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Lysaker, 16 July 2024,

AMSC ASA (“AMSC” or the “Company”) announces results for the second quarter and half-year ending 30 June 2024.

HIGHLIGHTS

  • Participated with NOK 122 million in the Solstad Maritime Holding (“Solstad Maritime”) private placement
  • Recognized share of profit of NOK 248.9 million relating to the investment in Solstad Maritime.
  • Declared Q2 2024 dividend of NOK 0.55 per share.

AMSC CEO, Pål Lothe Magnussen comments, “We are pleased to have capitalized on the opportunity to grow our exposure to Solstad Maritime having acquired and exercised subscription rights in order to cement our fully diluted shareholding at 19.4%. The outlook for offshore energy activities continues to look positive with strong global E&P spending in combination with increased activity within offshore wind. In parallel, we continue to evaluate investment opportunities and effective capital allocation alternatives, with the aim to continue to make attractive quarterly distributions”.

The full report is attached.

Company contacts:

Pål Magnussen, Chief Executive Officer +47 24 13 00 04

Morten Bakke, Chief Financial Officer +47 24 13 00 87

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

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