Good morning and Welcome to Solstad Maritime's First Quarterly Presentation As A Listed Company. With a picture of our subsea construction support vessel, Normand Navigator, just outside our office in Skudeneshamn, it has been a quarter that is very much influenced by the extraordinarily high planned maintenance activities we have had. Taking that into consideration, the quarter and a half year has been okay. Today's presentation will be held by CFO Kjetil Ramstad and myself, Lars Peder Solstad, as CEO. After the presentation, we will open up for Q&A and please ask questions in the chat. Please keep in mind that this is a Solstad Maritime presentation, so leave the Solstad Offshore questions for the next presentation that will start at 10:00 A.M. If we take a quick look at the disclaimer on the next slide before we move on to the highlights and a business update for the quarter. Obviously, the listing of Solstad Maritime Mid-May was an important milestone for the company, and I'm happy to see that Solstad Maritime has been well received by investors and by analysts. The outlook and the market fundamentals are still positive, but the steep activity increase we saw a year ago or so has leveled out for now. It has leveled out on a relatively high level, and the day rate we achieve in the market is still on healthy levels. We have had several of our main EBITDA contributors in for main- classing in the quarter, which explains the lower- than- normal utilization on the fleet. From the end of July, the majority of these planned maintenance stays will be completed. As such, the second half of 2025 and beyond looks strong. The EBITDA for the quarter is on the same level as the second quarter last year, but more positive is that we continue to build our position in Brazil with three new four-year contracts signed in the second quarter. These will contribute very positively from the first quarter of 2026, but will also have a slightly negative effect in the fourth quarter of 2025 as mobilizations for the new contracts will start in November and December. We signed new contracts worth $267 million in the quarter, giving a Book-to-Bill ratio of 1.8. I'm also pleased to announce that we continue to distribute dividends to shareholders on the same level as for the first quarter, meaning that $35 million will be distributed to shareholders later this month. On the market, the long-term outlook for our industry, for our company, looks positive, and especially South America and West Africa offer opportunities for the subsea fleet. Feedback we have from many of our clients is that 2026 will be a more active year than we have seen in 2025. In the first half of 2025, we have experienced a more competitive subsea market, especially in the North Sea, and the market continues to be very project-related with typical contract durations of one to six months. Still, rate levels for construction support vessels are on a stable high level, and during the last month, we have seen an increase in the number of new requirements. From July on, we have five of our operational vessels that are now being fully mobilized with our service delivery on board. For those with exposure to the short- and to medium-term market or medium-term project market, we expect to keep a steady high utilization onward. This is based on projects we have already signed after quarter- end, ongoing negotiations, and its tender activity. We also see some longer-term projects or longer-term prospects that may materialize. For the anchor handling fleet, the North Sea market has seen reduced reactivity in the first half- year, giving lower utilization on the fleet. On that basis, we will reduce the North Sea exposure by allocating one of the four vessels we have in the North Sea market to a four-year contract in Brazil that I spoke of just now. Also in Australia, we see that the rig activity is being reduced. On the other hand, the project market is more active, meaning that we managed to keep the anchor handling fleet in Brazil at a good utilization and still at healthy rates. Still, to improve visibility, we will transfer one of our anchor handlers in Australia also to Brazil to cover one of the four-year contracts we have signed there, as mentioned. Talking about Brazil, Brazil continues to offer opportunities for both construction support vessels and for anchor handlers. That goes for long-term contracts, and it goes for shorter projects. We have a strong position in Brazil, and the contracts we have signed so far this year will have a positive effect from the first quarter next year and build visibility into the next decade. There are many more opportunities in Brazil for Petrobras and for others. The key to be able to win contracts in Brazil is to have a strong local presence. At Solstad Maritime ASA, we have invested into our position in Brazil for nearly 30 years, and that definitely pays off now. If we take a closer look at the backlog and the earnings visibility, the order intake in the quarter was strong, and we estimate that the total Solstad Maritime ASA backlog has an average EBITDA of about 75%. The main reason for that is that the contracts in Brazil where Solstad Maritime ASA vessels are on bareboat. The main reason is that we bareboat the vessels we have on contracts in Brazil to Solstad Offshore ASA, and by that, achieving a very high EBITDA margin on those vessels. It is worth noticing that the EBITDA in hand for the company is higher than the gross debt of the company. Also worth mentioning is that around $400 million of EBITDA is already in hand for 2026 and 2027 combined. On the utilization, we have about 22% available days for the second half of this year, excluding the North Sea project/spot anchor- handling fleet. After quarter end, we have already signed shorter-term contracts, have ongoing negotiations, and see prospects that point to a strong utilization, especially from August and onward this year. On the anchor handling fleet, we will reduce the North Sea spot exposure, as shown on the graph in the middle here from 2026 and onwards by one vessel, as mentioned. We signed new contracts worth $267 million in the quarter, giving a book-to-bill ratio of 1.8. This is mainly Brazil contracts that will contribute from early next year, but it will also give us a slightly negative EBITDA effect in the fourth quarter this year due to mobilizations for those contracts. The bottom line is that we continue to build backlog at good levels, and that gives us a strong visibility for the remainder of this decade. Kjetil, I leave the word to you to take us through the financials. Thank you, Lars. If we go through the financial highlights of the second quarter, we will start with vessel utilization. We had a quarter with vessel utilization of 78%, and it's due to a large docking program that affects the utilization negatively in combination with a slow spot market for the anchor handlers in the North Sea. Combined for the anchor handling fleet, the second quarter utilization was 63%. Revenues in the second quarter of $152 million compared to $140 million same quarter last year. Revenues year to date of $279 million compared to $266 million last year. Adjusted EBITDA of $78 million compared to $77 million same quarter last year. First half gave an Adjusted EBITDA of $159 million, approximately 23% increase compared to first half 2024. Net result of $44 million in the second quarter compared to $28 million same quarter last year, also representing an increase of approximately 57%. As Lars mentioned, the backlog increased to $929 million in the quarter, up from $848 million at the same time last year. The order intake of $267 million in the quarter. Booked equity at $808 million compared to $650 million same quarter last year. This gives us an equity ratio of 49% at the end of the second quarter. The adjusted net- interest bearing debt in the financials are $592 million, down from $691 million last quarter or last year. Solstad Maritime ASA currently has a leverage ratio of 1.8. The cash position of $98 million, excluding the RCF. Please note that in the course or so far this year, we have paid quite some dividends and also repaid a large portion of the debt. This amounts to approximately $123 million. The company will also distribute dividends to its shareholders this quarter with the $35 million, and approximately $9.5 million of those will be paid to Solstad Offshore ASA. If we go to the financial guiding, Solstad Maritime ASA maintains its guiding from previous levels. However, it's expected to be in the lower range of the guiding due to lower utilization first half and an effect on upcoming mobilizations for contracts in Brazil. The Adjusted EBITDA range for 2025 has been narrowed down due to improved visibility. Second half Adjusted EBITDA is assumed to increase compared to the first half because the majority of the maintenance program has been completed in the first half. For tax, CapEx, interest, and repayment of loans, we assume no change to the guiding provided previously. On the key dates for dividends, as mentioned, we will in the second quarter pay $0.075 per share, totaling $35 million to be paid out to shareholders. The last day to receive dividends is the 14th of July 2025. The ex-date is 15th July. Record date is the day after, the 16th, and distribution date is on or about 21st July 2025. With that, I leave the word back to you, Lars Peder, to summarize. Thank you, Kjetil. To give a summary of this presentation and the second quarter and first half- year, I would just repeat that the outlook and the market fundamentals in our industry are still positive, but the steep activity increase seen earlier has leveled out for now. It has leveled out on a relatively high level and with the day rates still being at healthy levels. We have had several of our main EBITDA contributors in for classing in the quarter and in the first half year, which explains the lower than normal utilization. From end of July, most of these planned maintenance will be completed. As such, the second half of 2025 and beyond looks more robust. The EBITDA for the quarter is on the same level as for the second quarter last year, but more positive is that we are continuing to build on our position in Brazil with three times four-year contracts signed in the quarter, and they will all contribute very positively from 2026. As mentioned, they also have a slight negative effect end of this year. We continue to sign new contracts, 1.8 in Book-to-Bill ratio for the quarter, which is positive. I'm also very pleased to announce that we will continue to distribute dividends to shareholders on the same level as for the first quarter, meaning that we will continue our shareholder-friendly approach and distribute also $35 million for this quarter. This concludes our presentation. Now we move over to Q&A. Have we received any questions, Kjetil? Yes, we have. We have a few. We'll then go ahead with the first one. Can you please give an update on Normand Mermaid and Normand Sentinel, now ready for work from classing and upgrades. Yeah. Normand Mermaid and Normand Sentinel are two of the vessels that we have our own ROV systems on board in and that we are offering a, let's say, we have the service models to our clients from. Both vessels have been through main- classing, and Normand Mermaid has also mobilized recently the ROVs on board. They are ready to work now from within the next week or so. As I said earlier, we have some contracts signed, some negotiations ongoing, and quite a few projects that we are looking at, meaning that we are quite confident on the utilization for those vessels going forward. They will start on projects, and we see good utilization for them going forward. Thank you, Lars. It's a question on the anchor handling spot market in the North Sea. With the soft spot market for anchor handling in the North Sea, are there plans to adjust the locations for some of the anchor handlers currently located in the North Sea? Yeah. As I agree, it has been a weak spot market for the anchor handling tug supply vessels, and it still is. As I mentioned, we have already decided to relocate one of the four vessels we have in the North Sea to Brazil. The Normand Sigma will start mobilizing in the fourth quarter this year and start on a four-year contract in Brazil. That is the firm plan we have. Other than that, we are bidding and chasing projects all over the, let's say, mainly the Atlantic Basin with the anchor- handling tug supply vessels. We are aiming to reduce the spot exposure by taking on more projects, mainly on the outside of the North Sea. The most firm measure we have done is to remove the Normand Sigma to Brazil late this year. Thanks, Lars. Next question on the overall cost picture for Solstad Maritime. Do we experience an increase in the general cost base for the company compared to previous years? Yeah. I mean, there's no doubt that the cost level the last, let's say, two, three years has increased quite a lot. That goes for technical costs, that goes for salaries, that goes for most of what we are doing. We have seen that increase year by year, and the cost of dockings and the cost of operation is higher than it used to be. Also, when we look at how is the cost level compared to our budgets, for example, there's no big deviations on that. There's no doubt that cost level in general has increased, and that goes for operation in Norway, but also all other places in the world. We have another question on Normand Drott. Did you upgrade Normand Drott with an active- compensated crane? Yes. We have had quite comprehensive yard- stay on the Normand Drott, where we have, there are especially two things we have done that will sort of improve the technical specification of the vessel. One is the crane. We have installed a 25-ton crane that can operate down to very deep waters that is now mobilized on board. In addition, we have upgraded the vessel with a battery system that also will improve the bollard pull of the vessel with about 30 to 40 tons. This is a significant upgrade of the vessel that we have done now lately. I think that was the last question. With that, we can conclude. Thank you very much for listening in. For those who are interested, the Solstad Maritime presentation will start at 10:00 A.M. Thanks to everybody for listening.