Solstad Offshore ASA - Earnings Release 2016

FINANCIAL REPORT FOR THE 4TH QUARTER 2016 / PRELIMINARY RESULT 2016

- Operating income for 2016 was MNOK 2,582 (MNOK 3,656)

- Operating income for the 4th quarter 2016 was MNOK 476

(MNOK 705)

- Cash flow from operations (EBITDA) for the year was MNOK

1,008 (MNOK 1,555)

- EBITDA for 4th quarter was MNOK 149 (MNOK 246)

- Merger with Rem Offshore ASA finalized

- Total capital contributions (incl. convertible loan) of

MNOK 875

- CSV Normand Maximus delivered from yard and commenced a 8

year contract to Saipem

- Plan for merger with Farstad Shipping AS and Deep Sea

Supply Plc

- Several important contracts gained after year end

There will be held a presentation of the 4th quarter results

2016, on Wednesday March 1, 2017 at 08:00. The presentation

will take place at Rederiforbundet, Rådhusgt. 25, 7th floor,

Oslo.

Skudeneshavn, February 23, 2017

Solstad Offshore ASA

Contacts: Lars Peder Solstad and Sven Stakkestad (phone +47

52 85 65 00).

This information is subject of the disclosure requirements

acc. to §5-12 vphl (Norwegian Securities Trading Act)

Attachments on www.newsweb.no

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