Solstad Offshore ASA — Earnings Release 2021

Nov 25, 2021

Financial report for the 3rd quarter 2021

• Revenues for the third quarter of 2021 was MNOK 1,500 vs MNOK 1,316 in 2020, while EBITDA adjusted for the third quarter was MNOK 500 vs MNOK 395 in 2020
• High order intake in 3Q 2021, approx. MNOK 2,000
• The offshore activity continues to gradually improve both within oil & gas and offshore-wind and new contracts have been signed at improved terms
• Of the company's core fleet, 81 of 90 vessels has been working during the quarter
• Sold 24 of 37 vessels classified as non-strategic in 2021
• The Company is continuously working on upgrading its fleet to battery-hybrid to meet its sustainability targets for 2021
• Together with our partners in Aker Solutions and DeepOcean Windstaller Alliance was launched 14 October 2021. Windstaller Alliance will strengthen Solstads presence further within offshore wind.

Skudeneshavn, November 25th, 2021

Contacts

Lars Peder Solstad CEO, at +47 91 31 85 85 Kjetil Ramstad CFO, at +47 90 75 94 89

Solstad Offshore ASA www.solstad.com

This information is subject of the disclosure requirements according to the Norwegian Securities Trading Act section § 5-12.