Slides
Page 1
Pareto Securities’ 28th Annual Power & Renewable Energy Conference 29 January 2026
Page 2
6 VESSELS IN OPERATION +700 PEOPLE ENGAGED1 52% EQUITY RATIO €207m BOOK EQUITY2 €25.4m NET PROFIT3 €400m TOTAL ASSETS2 1) Gross number across the Group 2) Total equity and total assets include all 6 vessels NOK 1.4 billion (EUR ~124M) gross equity raised in IWS ASA. 3) Annualised Q3 2025 net profit to all equity IWS | A fully integrated offshore wind solutions provider KEY METRICS ~75% 100% 49% ~25% Integrated Services Consultancy & Asset Management
Page 3
3 IWS Fleet | Simplified CSOV core WTG operations Approach turbine 1 Fine tune positioning 2 Connect gangway 3 Transfer personnel 4 Navigate to wind turbine location and establish safe position Use DP system to achieve precise vessel position Deploy motion-compensated gangway to the transition piece Safe walk-to-work transfer of technicians and equipment
Page 4
4 Illustrative undiscounted cash flows for a 1GW offshore wind farm incl. onshore grid connection. IWS Group | Our presence in the offshore wind value chain Project year EURbn CORE BUSINESS OPPORTUNITY SPACE
Page 5
5 Highlights | Key developments since previous conference 2025 Frame agreement extended 2026 Uplisting Strategic merger in IWS Services Full operating fleet IWS Sunwalker Commenced first charter IWS Starwalker Commenced first charter IWS Moonwalker Commenced first charter Upsized EUR 208.5m loan facility
Page 6
IWS Fleet | From CAPEX to strong cash generation 1) All financials as of Q3 2024 2) Net profit and remaining newbuilding CAPEX as of Q3 2025. Firm backlog as of 31 December 2025, including contracts signed in Q1 2026. 3) Since 6 December 2025 all six vessels have been in operation e ainin new uil in AP € essels in o eration eli ere 2 et ro it €2 2 ir ac lo €8 Power & Renewable Conference 20251 Power & Renewable Conference 20262 e ainin new uil in AP et ro it € 8 ir ac lo € ↑ 77% ↑ 209% essels in o eration eli ere