Letter received from Kistefos

Kistefos AS and Kistefos Investments AS (together “Kistefos”) have informed the board members and CEO of Solstad Offshore ASA (“SOFF”) that Kistefos is considering initiating a lawsuit against the board members and the CEO to claim compensation for the alleged loss incurred by Kistefos as a result of the refinancing that was announced by SOFF on 23 October 2023. Kistefos is considering initiating the lawsuit in the form of a class action, so that other shareholders in SOFF may participate.

The board members of SOFF and the CEO maintain that any such lawsuit would be without merit, and refer to the shareholder letter of 16 January 2024 for a comprehensive report on the refinancing process.

Skudeneshavn, 1 March 2024


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

Kjetil Ramstad CFO, at +47 90 75 94 89

Solstad Offshore ASA