Eidesvik Offshore — Earnings Release 2018

Aug 21, 2018

FINANCIAL REPORT 2nd QUARTER 2018

FINANCIAL REPORT 2nd QUARTER 2018

In 2nd Quarter 2018 Eidesvik Offshore ASA had consolidated operating income of MNOK 125.0 (MNOK 215.8 in the corresponding period in 2017, whereof contract amendment for "Viking Vanquish" of MNOK 72.0 is included). Operating profit before depreciations (EBITDA) was MNOK 20.6 (MNOK 125.7), and operating profit (EBIT) was MNOK -42.9 (MNOK 243.4 after impairment of MNOK 22.8 regarding contract amendment for a vessel). Profit from Joint Ventures was MNOK -10.8 (MNOK 197.4, strongly affected of the incorporation of the new Joint Venture Global Seismic Shipping AS). Net financial items was MNOK -62.7 (MNOK -39.5). Profit after tax was MNOK -105.6 (MNOK 201.1). The quarter result is affected of low rates in all three segments, as expected.

Contact: CEO Jan Fredrik Meling (TEL +47 916 75 119)