EDDA WIND ASA Edda Wind andColombo Dockyard PLC ,Sri Lanka , have today entered into an agreement whereby the contracts for the construction and delivery of two Commissioning Support Operation Vessels are cancelled.Edda Wind has not paid any pre-delivery instalments toColombo Dockyard PLC , and only incurred minor cost in relation to the project. Under the agreementEdda Wind will receive a compensation which will give a modest positive P&L effect. The terms and conditions of the cancellation agreements are to be kept confidential between the parties. "The adverse development inSri Lanka , which has become detrimental to its population, as well as to the business and financial sectors, has unfortunately led to a situation wherebyColombo Dockyard PLC are unable to fulfill the contracts and a cancellation agreement has been reached. However,Edda Wind's growth ambition remains unchanged, and we are evaluating alternatives for future fleet expansion.", saysKenneth Walland , CEO ofEdda Wind ASA ." Read more a www.eddawind.com For further queries, please contact:Kenneth Walland , CEOEdda Wind Phone: +47 916 93 418 E-mail: kenneth.walland@eddawind.comTom Johan Austrheim , CFO Edda Wind Phone: +47 982 09 873 E-mail: tom.johan.austrheim@eddawind.com ABOUTEDDA WIND Edda Wind is a leading pure play offshore wind service company headquartered in Haugesund,Norway . The Company develops, builds, owns and operates purpose-built Service Operation Vessels ("SOV") and Commissioning Service Operation Vessels ("CSOV") for offshore wind farms worldwide.Edda Wind is creating the next generation of offshore wind service vessels and works closely with partners to develop new technologies to reduce emissions without compromising operational capabilities or cost competitiveness. As of today, the Company owns and operates two purpose-built offshore wind SOVs, operates one chartered frontrunner, and has seven dedicated offshore wind vessels under construction - two offshore wind SOVs and five offshore wind CSOVs - with delivery from 2022. All newbuild vessels are prepared for zero-emission utilising liquid organic hydrogen carrier as an energy source. This information is considered to include inside information pursuant to the Market Abuse Regulation article 17 and is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. Thisstock exchange announcement was published byTom Johan Austrheim , CFO,Edda Wind ASA , on28 July 2022 at09:30 CET .
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