Solstad Offshore ASA — Earnings Release 2019

Aug 28, 2019

Report 2nd quarter 2019

Report 2nd quarter 2019

·  Revenues for the second quarter of 2019 was MNOK 1,372 vs MNOK 1,359 in

2018, while Adjusted EBITDA amounted to MNOK 440 vs MNOK 356 in 2018

·  Adjusted EBITDA improvement of MNOK 216 in 1H 2019 (MNOK656 vs MNOK440)

·  Equity per June 30th negative with MNOK 1,655

·  The activity level in the market shows some signs of improvement

·  Agreement with certain financial creditors to suspend and defer payments of

principal and interest extended until October 31th, 2019

Skudeneshavn, August 28th, 2019

Contacts

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

Anders Hall Jomaas CFO, at +47 40 04 29 18

Solstad Offshore ASA

www.solstad.com

This information is subject of the disclosure requirements according to the

Norwegian Securities Trading Act section § 5-12.