Press release

Update on contractual status in light of sanctions imposed on Russia

Referring to the press release of 8 February 2022, where Viking Supply Ships AB (Viking) announced the award of a multi-season contract for its four ice-classed anchor handling tug supply (AHTS) vessels.

Due to the Russian attack on Ukraine the EU and several other countries have imposed several new sanctions on Russia, and Viking would like to give further details of the contractual status.

Viking can confirm that the above-mentioned contract is towards a Russian client, and that the work-scope is to take place within Russian waters. Viking does at this point not have information that the contract is subject to sanctions, but acknowledges that the situation is unclear and rapidly changing, however Viking considers it to be very likely that the contract will be canceled or postponed. Viking has a strong commitment to compliance and has procedures in place designed to ensure conformity with economic sanctions and embargo laws in connection with our charters. Viking is closely monitoring the situation together with its legal advisors and will give further information to the market through press releases as soon as such information is known.

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