Solstad Offshore ASA — Earnings Release 2018

Mar 1, 2019

Boa Offshore AS - Consolidated Fourth quarter report 2018

Boa Offshore AS - Consolidated Fourth quarter report 2018

Boa Offshore AS reports consolidated operating revenues of NOK 371m in 4Q 2018 (NOK 164m in the same quarter 2017). Operating profit before depreciation (EBITDA) was NOK 50m (NOK 24m). Net financial items was -NOK 52m (-NOK 49m) and Net profit was -NOK 90m (-NOK 153m).

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 32 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.