Eneti Inc. Announces It Has Discontinued Its Discussions With A US Shipyard To Turbine Installation Vessel; Co. Announces New Contract Awards For Seajacks

Eneti Inc. NETI (the "Company") announced today that it has discontinued discussions with a shipyard in the United States to build a Jones Act-compliant Wind Turbine Installation Vessel. Emanuele A. Lauro, Chief Executive Officer, said, "We believe the US Market for offshore wind will offer significant opportunities for the company in the future, but right now we are focused on delivering on our existing commitments and deriving value from our existing fleet." Furthermore, the Company announced today that, Seajacks UK Limited, a wholly-owned subsidiary of the Company and a leading provider of installation and maintenance vessels to the offshore wind sector, has signed four contracts with customers in NW Europe for between 189 to 240 days of employment for its NG2500-class vessels that will generate between approximately $11.6 million to $14.3 million of revenue in 2022. In addition, the Company announced on December 27, 2021, that the Seajacks Scylla, another vessel of Seajacks UK limited, signed a contract with Van Oord for employment in Europe in 2023. The firm charter duration of the contract will generate approximately $60.0 million of revenue from the first quarter through the fourth quarter of 2023.