Solstad Offshore ASA — Capital/Financing Update 2019

Apr 12, 2019

Company update on Solship Invest 3 AS

Company update on Solship Invest 3 AS

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

July 20th, 2018 regarding the agreed suspension of instalments and bareboat

payments of Solship Invest 3 AS and its subsidiaries (together "SI3") until

December 31st, 2019.

To preserve additional liquidity, SI3 has resolved to also suspend payment of

interest on certain financial debt until June 20th, 2019. All of the affected

creditors have approved such suspension, except for one minority creditor of one

of the subsidiaries of SI3. Payments of interest and principal towards such

creditor has been suspended by the relevant subsidiary until June 20th, 2019 on

a unilateral basis.

Notwithstanding the above, the vast majority of the creditors of both SI3 and

the creditors of the other parts of the Solstad Offshore group remains

supportive of the restructuring efforts of the group. The consenting SI3

creditors have confirmed that the agreed suspension of all principal and

interest towards them will remain in place until June 20th, 2019.

The Solstad Offshore group otherwise continues its operations in its ordinary

course.

Skudeneshavn April 12th, 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