Eneti Inc. Announces Contract Awards for Seajacks

Eneti Inc. has announced that Seajacks UK Limited, a wholly-owned subsidiary of Eneti, and a leading provider of installation and maintenance vessels to the offshore wind sector, has signed a new contract with a UK-based utility for one of its NG2500X-class vessels to support offshore wind farm substation commissioning in the UK sector of the North Sea for a period of 90-120 days in each of 2023, 2024, and 2025.

In aggregate, over the three years, this contract is expected to generate up to $20.5 million of revenue.

In addition, the Company also announces that Seajacks UK Limited signed a contract with a UK-based energy company for one of its NG2500X-class vessels to support offshore facility maintenance in the UK sector of the North Sea.  The contract, which has a duration of between 14 and 21 days, will generate approximately $800,000 to $1.2 million of revenue in the second quarter of 2022.

About Eneti Inc.

Eneti Inc. is a leading provider of installation and maintenance vessels to the offshore wind sector and has invested in the next generation of wind turbine installation vessels. The Company is listed on the New York Stock Exchange under the ticker symbol NETI. Additional information about the Company is available on the Company’s website.