Solstad Offshore ASA — Capital/Financing Update 2021

Feb 1, 2021

Windfarm work awarded by MHI Vestas

Windfarm work awarded by MHI Vestas

Solstad Offshore ASA ("Solstad") is pleased to announce that the company has

signed a contract with MHI Vestas for hire of the CSV Normand Fortress to

support their W2W operations at the Triton Knoll windfarm in UK. The firm period

of the contract is 140 days plus options thereafter, commencing March 2021.

The contract is the first being awarded by MHI Vestas to Solstad and is

considered a milestone in our work towards further enhance our presence within

the worldwide offshore-wind markets.

Skudeneshavn, February 1st, 2021

Contacts

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

Kjetil Ramstad CFO, at +47 90 75 94 89

Solstad Offshore ASA

www.solstad.com