Solstad Offshore ASA — M&A Activity 2018

Oct 5, 2018

Normand Reach awarded contract with Global Sea Mineral Resources, member of the DEME-Group

Normand Reach awarded contract with Global Sea Mineral Resources, member of the DEME-Group

Solstad Offshore ASA ("Solstad") has been awarded a contract with Global Sea

Mineral Resources NV(GSR), for the CSV Normand Reach. The contract will commence

in 4Q 2018 and has a duration of 4-6 months. The vessel will be mobilized from

Europe with the mining vehicle "Patania II", support equipment and containers,

before sailing to San Diego (USA). Patania II is a Pre-Prototype remotely

operated mining vehicle designed to collect polymetallic nodules in water depths

down to 5000m below surface.

The vessel will work side-by-side with the German Research Vessel Sonne under

the JPI Oceans project "Mining Impact II", to perform an independent scientific

assessment of the environmental impacts, generated during the Patania II tests

in the Belgian and German License Areas in the Pacific Ocean

For more information of the project, please visit following website: www.deme

-group.com/gsr

Skudeneshavn, October 5th, 2018

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