Result of offer to buy back debt through reverse auction

Reference is made to the stock exchange notice dated 9 September 2020 regarding Solstad Offshore ASA’s offer to buy back debt through reverse auction.

The buy-back offer closed at 16.00 Oslo time on 16 September 2020. The buy-back has been accepted for debt with a total nominal amount of NOK 966,951,645 at a total purchase price of NOK 23,608,549.35. The highest offer accepted was 3% of par value.

Settlement is conditional upon the occurrence of the effective date for the restructuring of the Solstad Offshore ASA group and is expected to take place on or about such date.

Skudeneshavn, 17 September, 2020

Kjetil Ramstad CFO, at +47 90 75 94 89

Solstad Offshore ASA

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