Viking Supply Ships

Earnings Release • Feb 29, 2016

Press release

29 February 2016

Viking Supply Ships A/S Interim report Jan-Dec 2015.

Total revenue for Q4 was MNOK 283 (476), of which vessel operations contribute with MNOK 252 (396) and Services and Ship Management segments contribute with MNOK 31 (80). The EBITDA for Q4 was MNOK 68 (257).

The operating result (EBIT) for Q4 was MNOK -59 (206). The net result for Q4 was MNOK -98 (113). The result for Q4 was negatively impacted by an impairment loss on the PSV fleet of MNOK -80 and an unrealized currency loss of MNOK -21 (-62).

The average fixture rate in Q4 was NOK 515,000 (497,000) for the AHTS fleet and GBP 4,330 (7,620) for the PSV fleet. The average utilization in Q4 was 68% (73%) for the AHTS fleet and 70% (49%) for the PSV fleet. These figures exclude the four laid-up vessels.

For further information please contact:

Ulrik Hegelund, CFO, ph. +45 41 77 83 97, e-mail ulrik.hegelund@vikingsupply.com

Morten G. Aggvin, IR & Treasury Director, ph. +47 41 04 71 25, e-mail ir@vikingsupply.com

Viking Supply Ships A/S is a subsidiary of Viking Supply Ships AB (publ). The operations are focused on offshore and icebreaking primarily in Arctic and subarctic areas. For further information, please visit: www.vikingsupply.com. The information was submitted for publication on 29 February 2016 at 08:31 am

Danish head office: Swedish office: Norwegian office: Russian office: Canadian office Viking Supply Ships A/S Islands Brygge 57 2300 Copenhagen Denmark

Tel.: +45 72 31 20 13 Reg no: 33369794

Viking Supply Ships AB Idrottsvägen 1, 1 44 31 Stenungsund Sweden

Tel.: +45 72 31 20 13 Reg no: SE 556858-2463 Viking Supply Ships AS PB 204, Kirkegaten 1 4662 Kristiansand Norway

Tel.: +47 38 12 41 70 Reg no: 981240030

Viking Supply Ships Ltd Khlebniy Perulok 19A 121069 Moscow Russia

Reg no: 110774-6094

Tel.: +7 495 6916811

Viking Supply Ships 139 Water Street Suite 400 St. John's, NL A1C 5J9 Canada

Tel.: +1 709 631 9984 Reg.no: TBA