Solstad Offshore ASA — M&A Activity 2023

May 12, 2023

Letter of Intent for charter of the CSV Normand Maximus

Letter of Intent for charter of the CSV Normand Maximus

Solstad Offshore ASA ("Solstad") has received a Letter of Intent from an

undisclosed subsea contractor for hire of the CSV Normand Maximus for a period

of minimum 490 days with commencement first quarter 2024.

The commercial terms are confidential between the parties but are in line with

present market terms for this vessel category.

The subsea construction vessel Normand Maximus is the largest vessel in the

Solstad fleet, with its 900t AHC crane and 550t VLS. Normand Maximus is 178

meters long and can accommodate up to 180 people.

Skudeneshavn 12 May 2023

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