Solstad Offshore ASA — Earnings Release 2018

Nov 29, 2018

Boa Offshore AS - Consolidated Third quarter report 2018

Boa Offshore AS - Consolidated Third quarter report 2018

Boa Offshore AS reports consolidated operating revenues of NOK 277m in 3Q 2018 (NOK 157m in the same quarter 2017). Operating profit before depreciation (EBITDA) was NOK 43m (NOK 31m). Net financial items was -NOK 44m (-NOK 79m) and Net profit was -NOK 41m (-NOK 88m).

For further information, please contact:

Helge Kvalvik, CEO: Tel +47 97 97 97 72, or

Albert Strand, Director Finance and Risk: Tel +47 90 74 44 61

About Boa Offshore:

Boa Offshore is a Norwegian-based global offshore supply vessel owner and operator with a well- diversified fleet of 33 units focused on subsea, barges, tugs, seismic, AHTS, engineering and project management. The company has the most sophisticated semi-submersible barge fleet in the world and holds the global market-leading position for heavy lift barges. The Boa group is an experienced and focused operator with more than 40 years of history.