Solstad Offshore ASA - Capital/Financing Update 2021

Contracts of 1,000 vessel days awarded

Solstad Offshore ASA is pleased to announce multiple new medium-term contracts

and contract extensions.

PSV Normand Leader has been contracted to support a project offshore Australia.

The contract is scheduled to commence in Q3 2021 and gives utilization for the

vessel throughout 2021.

Charterers of PSV Normand Tortuga have declared options to extend present

contract until end of 2021. The vessel operates in New Zealand.

PSV Normand Swift has been contracted to support Shell Brasil Ltda. The contract

is scheduled to commence in Q4 2021.

PSVs Normand Sitella, Sea Spear and Sea Spark have been contracted to support a

seasonal drilling campaign outside the North Sea. Commencement will be in July

Charterers of PSVs Normand Serenade and Normand Arctic have extended the vessels

to Q4 2021. Both vessels operate in Norway.

Solstad's anchor handlers currently trading the North Sea spot market have been

awarded multiple project contracts in Q3 and Q4 2021.

The total firm duration of the contracts is approximately 1,000 vessel days and

there are options to extend the contracts further.

Skudeneshavn, July 7th, 2021

Contacts

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

Kjetil Ramstad CFO, at +47 90 75 94 89

Solstad Offshore ASA

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