Solstad Offshore ASA - Capital/Financing Update 2018

Update on refinancing process and summons to bondholders' meeting

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

October 22nd, 2018.

Solstad Offshore ASA is in the process of negotiating a potential agreement

whereby interest and amortisations on financial debt of the Solstad Offshore

group will be temporarily suspended and deferred commencing December 20th, 2018.

The contemplated suspension agreement will not apply to the financial debt of

Solship 1 Invest AS, Solship 3 Invest AS, and their respective subsidiaries. As

such, the bond loan of Solship 1 Invest AS will continue to be serviced in its

ordinary course. The scope of the contemplated suspension agreement may be

widened at a later stage.

The contemplated suspension agreement will be conditional that the suspension

and deferral also applies to the interest falling due for payment on Solstad

Offshore ASA's outstanding bond with ISIN NO 001 0713548. Solstad Offshore ASA

has therefore today on 5 December 2018 summoned for a bondholders' meeting (the

"Summons") requesting the bondholders' consent to such suspension and deferral.

The Summons is attached to this notice.

The bondholders' meeting will be held on December 19th, 2018 at 13:00 (CET) at

the premises of Nordic Trustee AS, Haakon VIIs gt.1, 0161 Oslo (6thfloor).

The summons will be sent directly to all bondholders.

Skudeneshavn, December 5th, 2018.

Contacts:

Contact persons

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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