Oceanteam ASA — M&A Activity 2017

Jan 13, 2017

OCEANTEAM ASA - MCDERMOTT TO EXERCISES ITS OPTION TO PURCHASE PLV NORTH OCEAN 105.

OCEANTEAM ASA - MCDERMOTT TO EXERCISES ITS OPTION TO PURCHASE PLV NORTH OCEAN 105.

Oceanteam ASA ("Oceanteam" or "Company") announces that joint-venture partner

McDermott will exercise its option to purchase Oceanteam's 25% ownership in the

vessel-owning company North Ocean 105 AS by the end of April 2017. Under

McDermott's main credit facility agreement, it has announced that it is required

to do so.

As part of the understanding with its bondholders and that was announced on

January 11(th) 2017, Oceanteam will use the proceeds for repayments of vendors

and repurchase of outstanding bonds. It will realise significant capital gain on

the sale of its ownership interest in this vessel.

"We move perfectly according to plan enabling to align our costs of capital

employed and our amortization profile amongst others with the current market

situation", says CEO Haico Halbesma. "As said in previous updates, our financial

restructuring will allow us to further develop our existing market activities,

to take advantage of new business opportunities, and thus to allow us to build

long-term value for the benefit of all Oceanteam's stakeholders and employees".

Also read:

http://www.oceanteam.nl/newsitems/article/oceanteam-asa-reaches-understanding-

with-bond-holders-on-refinancing-curren

http://www.oceanteam.nl/newsitems/article/fugro-nv-retains-charter-contract-csv-

southern-ocean

http://www.oceanteam.nl/newsitems/article/oceanteams-2016-in-60-seconds

About Oceanteam ASA

The Company is comprised of two operating segments, Oceanteam Shipping and

Oceanteam Solutions. Oceanteam Shipping owns, charters and manages deep-water

offshore support vessels and fast support vessels. Oceanteam Solutions focus is

to provide its clients with complete offshore solutions. Oceanteam ASA has been

active in the industry as an offshore solutions provider for over twelve years.

For more information: www.oceanteam.no

For further information about Oceanteam ASA please contact:

CFO Wilhelm Bøhn: +47 4723 6434, wilhelm@oceanteam.no

CEO Haico Halbesma +31.20.5357570 haico@oceanteam.nl

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act