Financial report for the 4[th] quarter 2023

Solstad achieved a solid EBITDA margin of 46% in 4Q 2023.

· The CSV segment concluded a quarter with high utilization and improved commercial terms across geographical regions.

· Operating income from continued operations for 4Q 2023 increased by 71 percent to MNOK 2,023 compared to MNOK 1,185 in 4Q 2022.

· EBITDA adjusted from continued operations increased by 174 percent to MNOK 923 compared to MNOK 336 in 4Q 2022.

· High utilization of 94 percent for vessels in operation during the quarter.

· Building a service division that enables an offering of additional services, such as ROVs, tooling, project personnel, engineering support. During 4Q, the Company established a management for the segment, and prepared for the investment program of 10 new work class ROVs.

· The Refinancing of the Company, and the new group and ownership structure, was completed on 16 January 2024

Skudeneshavn, February 29[th], 2024


Lars Peder Solstad CEO, at +47 91 31 85 85

Kjetil Ramstad CFO, at +47 90 75 94 89

Solstad Offshore ASA


This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act