Eidesvik Offshore — Interim / Quarterly Report 2018

May 14, 2018

FINANCIAL REPORT 1st QUARTER 2018

FINANCIAL REPORT 1st QUARTER 2018

In 1st Quarter 2018 Eidesvik Offshore ASA had consolidated operating income of MNOK 100,9 (MNOK 248,9 in the corresponding period in 2017, included termination fee and gain on sale of vessel). Operating profit before depreciations (EBITDA) was MNOK 7,1 (MNOK158,6), and operating profit (EBIT) was MNOK -71,3 (MNOK 56,3). Profit from Joint Ventures was MNOK -22,6 (MNOK 24,1). Net financial items was MNOK 20,2 (MNOK 78,8). Profit after tax was MNOK -51,1 (MNOK 135,1). The quarter result is affected of low rates and partly low fleet utilization in all three segments.

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