BW Ideol and Ardersier Port Authority have signed a strategic partnership agreement

Ardersier Port Authority and BW Ideol have signed a formal partnership agreement
on September 20. Under this agreement, BW Ideol has gained an exclusive and
long-term access to Ardersier Port for the manufacturing of concrete floaters
and both Parties have agreed to explore the set-up of a serial production line
dedicated to the delivery of locally manufactured floating wind substructures
based on BW Ideol's proven Damping Pool ® technology.

The Ardersier Port site is the largest brownfield port in the United Kingdom.
The site comprising 400 acres of port area with access to a 2.2km quay and 350
acres of statutory harbour authority has been identified as one of three sites
on the East coast of the United Kingdom with the size, scale, shape, and
location capable of being an Offshore Renewable Energy Hub Port. By signing this
partnership, BW Ideol is securing a unique access to a strategic asset,
unlocking the bottleneck of port infrastructure availability in Scotland. It
further confirms its ability to industrialize the manufacturing of its solution
and its leading position on the fast-growing Scottish floating wind market.

Dredging works will commence in October with the port targeting a completion by
August 2022.

Paul de la Guérivière, CEO of BW Ideol, declared: "The Scottish government has
actively initiated the development of a large floating wind industry in Scotland
through the Scotwind Leasing and the launch of a consultation for a new Sectoral
Marine Plan for Offshore wind for Innovation and Targeted Oil and Gas
Decarbonisation. This pipeline of projects represents a unique opportunity to
create a dedicated supply chain in Scotland. Faithfull to its industry-leading
track record in terms of local value creation, BW Ideol hereby reaffirms its
strong commitment to manufacture floaters in Scotland, creating a sustainable
floating wind industry and maximizing local content in the process."

Steven Regan of Ardersier Port Authority stated: "The UK has set a world leading
net zero target to build back better which means building back greener. This
strategic partnership allows us to work towards bringing an essential
manufacturing facility to Scotland which complements our vision of using
circular economy practices to deliver the United Kingdoms Energy Transition
plans. At Ardersier we will deliver a world class multi disciplinary facility of
a unique scale that will provide long term sustainable benefits to clients and
communities."

More details on the new Port Masterplan will be provided during a signing
ceremony to come.

BW Ideol is part of the Floating Energy Allyance, a partnership that has
submitted applications to Scotwind Leasing.

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