Solstad Offshore ASA — Capital/Financing Update 2017

Jul 5, 2017

Construction of two new wellboats

Construction of two new wellboats

DESS Aquaculture Shipping AS (DESS Aquaculture) and Marine

Harvest Norge AS (Marine Harvest) have entered into

agreements for long term charter of two new wellboats. Both

vessels will be delivered as newbuildings in 2019 and will im

immediately upon delivery commence 5 year charter contracts wi

with Marine Harvest.

DESS Aquaculture have awarded the yard Sefine Denizcilik Tersanecilik

Tersanecilik Turizm San. Ve Tic. A.S contracts for the

construction of the two wellboats. The vessels will have

3.500 m3 capacity and are based on design from SALT Ship

Design. DESS Aquaculture has options for two additional wellboats

wellboats under the contract with Sefine.

DESS Aquaculture specializes in the ownership and operations

of vessels used in the aquaculture industry. The company is

owned 50% by a wholly owned subsidiary of Solstad Farstad

ASA and 50% by Marine Harvest. Following the conclusion of

the two new construction contracts the Company has 4 wellboats

wellboats and 1 harvest vessel under construction. All newbuildings

newbuildings are secured long term contracts with Marine Ha

Harvest from delivery from yard.

The investments will be financed through external financing

and equity. The SolstadFarstad 50% share of the equity in

DESS Aquaculture is secured through a recently signed

agreement for a subordinated loan with a company associated

with Hemen Holding Ltd of up to MNOK 226. This is considered to

to be sufficient equity for taking delivery of the five ve

vessels under construction. The company has initiated the wo

work on external financing and plan to have this in place we

well before delivery of the vessels.

For SolstadFarstad the investments in DESS Aquaculture are of hi

of high strategic importance and the company plans for furth

further growth in the segment over the coming years.

Contacts:

Lars Peder Solstad, CEO at +47 913 18 585 or

Anders Hall Jomaas, CFO at +47 40 04 29 18.

Skudeneshavn, 5 July 2017

SolstadFarstad ASA

www.solstadfarstad.com

This information is subject of the disclosure requirements

acc. to §5-12 vphl (Norwegian Securities Trading Act)