Solstad Offshore ASA — M&A Activity 2021

Mar 4, 2021

Contract awards within Renewable Energy and Subsea

Solstad Offshore ASA is pleased to announce following contracts awards for two of its subsea construction vessels (CSV).

CSV Normand Fortress has secured a contract with UK based contractor Manor Renewable Energy for operation on a UK wind farm. The contract is scheduled to commence in October 2021, in continuation of the former announced contract with MHI Vestas (reference made to press release dated Feb 1 st), keeping the vessel fully utilized into 1Q 2022.

CSV Normand Mermaid has been awarded a contract with an international seabed seismic company. The vessel will be used for their deep-water Ocean Bottom Node baseline survey project offshore Angola. The project will commence in 2Q 2021.

Combined utilization for the two contracts is expected to be around 300 days

Skudeneshavn, March 4 th , 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