Sale of vessels

Solstad Rederi AS, a wholly owned subsidiary of Solstad Offshore ASA, has sold six vessels whereof four PSV’s Sea Trout, Normand Trym, Normand Vibran, REM Supplier and two AHTS’s Normand Ivan and Far Santana.

Delivery of the six vessels to the new owner took place today, April 7th, 2022.

The sale of the vessels will result in an immaterial accounting effect in 2Q-22.

With the sale of these vessels, Solstad has completed its divestment program of 36 vessels defined as non-strategic, as announced in 4Q-20. The sale of the 36 vessels has contributed to a reduced debt in Solstad of approximately MNOK 900.

After the sale of the non-strategic fleet, the Solstad Offshore fleet consist of 90 Subsea, Anchor handling and Platform Supply vessels working for Oil & Gas and Renewable Energy clients in the global markets.

Skudeneshavn, April 7th, 2022

Lars Peder Solstad CEO, at +47 91 31 85 85
Kjetil Ramstad CFO, at +47 90 75 94 89

Solstad Offshore ASA