Solstad Offshore ASA — Director's Dealing 2016

Oct 28, 2016

Allocation to primary insiders

Allocation to primary insiders

Reference is made to the announcement published on 28

October 2016, in which Solstad Offshore ASA ("Solstad

Offshore" or the "Company") announced the final

results of the subsequent offerings in the Company

directed at shareholders in Solstad Offshore

(the "Solstad Subsequent Offering") and Rem Offshore

ASA (the "Rem Subsequent Offering").

The following primary insiders of Solstad Offshore

have been allocated shares in the Solstad Subsequent

Offering at a price of NOK 12.50 per share in

accordance with the terms set out in the prospectus

dated 9 September 2016:

- Vindbalen AS, a company owned by CEO Lars

Peder Solstad, has been allocated 167,612 shares in

the Solstad Subsequent Offering and will hold 707,987

shares in the Company following completion of the

Solstad Subsequent Offering;

- Sven Stakkestad, Deputy CEO, has been

allocated 1,316 shares in the Solstad Subsequent

Offering and will hold 4,641 shares in the Company

following completion of the Solstad Subsequent

Offering;

- Eivind Kvilhaug, CFO, has been allocated 395

shares in the Solstad Subsequent Offering and will

hold 1,395 shares in the Company following completion

of the Solstad Subsequent Offering;

- Hans Knut Skår, CCO, has been allocated 751

shares in the Solstad Subsequent Offering and will

hold 2,651 shares in the Company following completion

of the Solstad Subsequent Offering;

- Terje Vareberg, Chairman, has been allocated

1,188 shares in the Solstad Subsequent Offering and

will hold 4,188 shares in the Company following

completion of the Solstad Subsequent Offering;

- Zahlahuset II AS, a company owned by board

member Toril Eidesvik, has been allocated 988 shares

in the Solstad Subsequent Offering and will hold 3,488

shares in the Company following completion of the

Solstad Subsequent Offering;

- AB Investment AS, a company owned by board

member Anders Onarheim, has been allocated 7,933

shares in the Solstad Subsequent Offering and will

hold 27,933 shares in the Company following completion

of the Solstad Subsequent Offering;

- Jostein Atle Fjelland, Accounting Manager, has

been allocated 1,009 shares in the Solstad Subsequent

Offering and will hold 3,559 shares in the Company

following completion of the Solstad Subsequent

Offering;

- Olaug Høines Hillesland, Controller, has been

allocated 108 shares in the Solstad Subsequent

Offering and will hold 808 shares in the Company

following completion of the Solstad Subsequent

Offering, in addition related party Thomas Midbøe has

been allocated 85 shares in the Solstad Subsequent

Offering and will hold 635 shares in the Company

following completion of the Solstad Subsequent

Offering;

- Elsa Lampe Larsen, Controller, has been

allocated 37 shares in the Solstad Subsequent Offering

and will hold 137 shares in the Company following

completion of the Solstad Subsequent Offering;

- Sverre Kenneth Lande, Operations Director, has

been allocated 227 shares in the Solstad Subsequent

Offering and will hold 802 shares in the Company

following completion of the Solstad Subsequent

Offering;

- Tor Martin Nilsen, Chartering Manager, has

been allocated 433 shares in the Solstad Subsequent

Offering and will hold 1,533 shares in the Company

following completion of the Solstad Subsequent

Offering;

- Rita Olsen, Insurance Manager, has been

allocated 433 shares in the Solstad Subsequent

Offering and will hold 1,533 shares in the Company

following completion of the Solstad Subsequent

Offering;

- Leif Henning Stave, Corporate Controller, has

been allocated 433 shares in the Solstad Subsequent

Offering and will hold 1,533 shares in the Company

following completion of the Solstad Subsequent

Offering;

- Ivar Storesund, Charterer, has been allocated

274 shares in the Solstad Subsequent Offering and will

hold 974 shares in the Company following completion of

the Solstad Subsequent Offering;

- Hans Sigurd Ånensen, Technical Director, has

been allocated 236 shares in the Solstad Subsequent

Offering and will hold 836 shares in the Company

following completion of the Solstad Subsequent

Offering;

- Per Stange, HR Director, has been allocated

2,714 shares in the Solstad Subsequent Offering and

will hold 9,564 shares in the Company following

completion of the Solstad Subsequent Offering;

- Tor Inge Dale, CCO, has been allocated 400

shares in the Solstad Subsequent Offering and will

hold 1,500 shares in the Company following completion

of the Solstad Subsequent Offering;

- Jakob Høines, HSEQ Director, has been

allocated 705 shares in the Solstad Subsequent

Offering and will hold 5,255 shares in the Company

following completion of the Solstad Subsequent

Offering;

- Owe Høines, Managing Director for Ivan AS, has

been allocated 5,000 shares in the Solstad Subsequent

Offering and will hold 31,200 shares in the Company

following completion of the Solstad Subsequent

Offering;

Skudeneshavn, 28 October 2016

Contacts: Lars Peder Solstad (CEO) and Sven Stakkestad

(deputy CEO), phone +47 52 85 65 00

This information is subject to disclosure requirements

pursuant to sections 4-2 and 5-12 of the Norwegian

Securities Trading Act.