Solstad Offshore ASA - Share Issue/Capital Change 2016

Share capital increase and issuance of convertible loan registered.

Reference is made to stock exchange announcement 30

September 2016 regarding satisfaction of the

conditions for completion of the share capital

increase and the convertible loan subscribed 31 August

The share capital increase has today been registered

in the Norwegian Register of Business Enterprises.

Following such registration, the share capital of the

Company is NOK 122 997 132, divided into 61 498 566

shares, each with a par value of NOK 2. The

convertible loan has also today been registered in the

Norwegian Register of Business Enterprises. The

nominal value of the convertible loan is NOK 250 000

000, and the conversion period is until 13 July 2021.

Conversion may maximally include a share capital

increase of NOK 40 000 000. As follows from the notice

to the extraordinary general meeting to be held in the

Company on 10 October 2016, it is proposed that the

conversion period is extended to 1 October 2021.

Reference is made to stock exchange announcement 31

August 2016 for details on the number of shares and

rights to shares which are held by Aker Capital AS and

the Solstad Family Companies (as defined therein) now

that the share capital increase and issuance of the

convertible loan have been registered, and which share

of the votes and shares this constitutes.

Skudeneshavn, 3 October 2016

Solstad Offshore ASA

Contacts: Lars Peder Solstad (CEO) and Sven Stakkestad

(deputy CEO), phone +47 52 85 65 00.

This information is subject of the disclosure

requirements pursuant to § 5-12 of the Norwegian

Securities Trading Act.

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