Long term contract award for PSV in Norway

As part of the Frame Agreement between Aker BP and Solstad Offshore, the
companies have entered into a new contract for the PSV Far Solitaire. The new
contract is for 3 years firm + 6 yearly options and will commence in direct
continuation of the current contract, keeping the vessel fully utilized to 4Q
2024. The vessel has been on contract with Aker BP since 2018 and will continue
to support their activities on the Norwegian Continental Shelf.

Far Solitaire will be upgraded with a battery-hybrid system as a part of both
Solstad and Aker BP's efforts to reduce emissions from operations. When upgraded
in December 2021 Far Solitaire will be the 9th PSV Solstad operate on the
Norwegian Continental Shelf with a battery-hybrid system and shore power
connection installed. This is one of many important steps to reach Solstad's
long term decarbonization target.

Skudeneshavn, September 29th, 2021

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

Solstad Offshore ASA
www.solstad.com