New share capital registered

Reference is made to the stock exchange notice by Solstad Offshore ASA (the “Company”) earlier today (the “Notice”) regarding the approval by the extraordinary general meeting of the restructuring of the Solstad Offshore group and the final decisions by the Company’s board of directors based on the level of subscription in the Private Placements. All terms used in this notice shall have the meaning ascribed to such terms in the Notice.

Following the resolutions as further detailed in the Notice, the new share capital, the new number of shares and the new par value of each share have been registered with the Norwegian Register of Business Enterprises:

Share capital: NOK 72,883,250
Number of shares: 72,883,250
Par value of each share: NOK 1

The shares issued in the Private Placements are expected to be delivered in the VPS on 23 October 2020 and may also be traded broker-to-broker before such date with agreed delivery in VPS from and including 23 October 2020.

Skudeneshavn, 20 October 2020

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