AMSC ASA — M&A Activity 2022

Oct 18, 2022

AMSC ASA - Delivery of the offshore construction vessel Normand Maximus and commencement of long-term bareboat contract

AMSC ASA - Delivery of the offshore construction vessel Normand Maximus and commencement of long-term bareboat contract

18 October 2022

AMSC ASA is pleased to announce it has taken delivery of the offshore

construction vessel Normand Maximus. The vessel commenced a long-term bareboat

charter with a subsidiary of Solstad Offshore ASA ("Solstad") upon delivery.

The Normand Maximus is a premier offshore construction vessel and one of the

most modern heavy duty subsea vessels. Solstad is a leading offshore services

company with a large fleet of offshore vessels operating globally. Solstad has

been the previous operator of the Normand Maximus and will continue to do so

under the new bareboat contract with AMSC.

Company contacts:

Pål Magnussen, Chief Executive Officer +47 90 54 59 59

Morten Bakke, Chief Financial Officer +47 900 955 94

Leigh Jaros, Financial Controller +1 484 880 3741

About AMSC ASA:

Established in 2005 and listed on the Euronext Oslo Stock Exchange, AMSC is a

ship owning company with nine modern handy size product tankers, one modern

handy size shuttle tanker and one subsea construction vessel on bareboat

charters with various counterparties. AMSC has a significant contract backlog,

as well as profit sharing agreements, which offers visibility with respect to

future earnings and potential dividend capacity. The Company has an ambition to

pay attractive dividends to its shareholders. Further information is available

at www.amscasa.com.