Solstad Offshore ASA - Capital/Financing Update 2018

Company update

Reference is made to the stock exchange communications of Solstad Offshore ASA

("SOFF") of October 22nd, December 5th and December 19th, 2018.

As set out in the aforementioned communication, SOFF has commenced discussions

with the SOFF-group's financial creditors and other stakeholders to improve the

overall liquidity situation of the group and to create a robust long-term

platform for the company.

SOFF is pleased to announce that further to these discussions, certain of the

SOFF-group companies (the "Companies") and their secured financial creditors

have today agreed (subject to customary conditions) to suspend and defer

payments of principal and interest under the Companies' loan agreements until

June 20th, 2019. The agreement satisfies the conditions for the suspension of

the interest payable on SOFF's bond with ISIN NO 001 0713548 referred to in

SOFF's stock exchange communication of December 19th, 2018. The suspensions take

effect immediately.

"We appreciate the continued support to Solstad Offshore ASA. During the period

leading up to today's milestone our employees have maintained focus on daily

operations and enabled us to continue to deliver quality service to our clients.

This will be our priority also going forward" says CEO Lars Peder Solstad.

The suspensions and deferrals will not apply to the financial debt of Solship 1

Invest AS or Solship 3 Invest AS, and their respective silo-subsidiaries. The

scope of the suspensions and deferrals may be widened at a later stage.

The SOFF-group will in the months to come continue the constructive dialogue

with its financial creditors and provide further updates in due course.

The SOFF-group otherwise continues its operations in its ordinary course.

Skudeneshavn, December 20th, 2018

Contacts

Lars Peder Solstad CEO, at +47 91 31 85 85

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

Solstad Offshore ASA

www.solstad.com

This information is subject of the disclosure requirements according to the

Norwegian Securities Trading Act section § 5-12

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