Solstad Offshore ASA — Capital/Financing Update 2019

Nov 12, 2019

Contract for vessel in Brazil

Contract for vessel in Brazil

Solstad Offshore ASA has entered into a new contract for AHTS BOS Turmalina

(2006, UT 722L, 165t BP) with Enauta Energia S.A in Brazil. The new charter is

1,5 years firm with up to 2 years options thereafter. Commencement of the

contract is in Q4-2019, in direct continuation with current charter. AHTS BOS

Turmalina shall keep supporting production activities at the "Atlanta Field" in

Santos Basin.

Skudeneshavn, November 12[th], 2019

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.