Solstad Offshore ASA — M&A Activity 2020

May 4, 2020

Medium-term contracts for multiple vessels

Medium-term contracts for multiple vessels

Solstad Offshore ASA has entered into medium-term contracts for six of its

vessels for a period of 80 to 170 days each with undisclosed Clients.

Commencement will be around July 1[st] and the operation are outside the North

Sea.

The nominated vessels are the PSVs Normand Supra, Normand Surfer, Normand

Serenade, Normand Sitella and Sea Spear, in addition to the AHTS Far Sigma.

The contracts will significantly reduce the company's North Sea spot market

exposure in 2020.

Skudeneshavn, May 4[th], 2020

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