Farstad Shipping ASA – Update on the merger process

Skudeneshavn, Ålesund and Limassol, 9 June 2017

Reference is made to previous stock exchange notices regarding the proposed mergers between (i) Farstad Shipping ASA and Solship Invest 2 AS with the latter as the surviving entity and with settlement in shares in Solstad Offshore ASA ("SOFF"), (ii) Deep Sea Supply Plc and Solship Sub AS with the latter as the surviving entity and (iii) Solship Sub AS and Solship Invest 3 AS with the latter as the surviving entity and with settlement in SOFF shares, together referred as the "Mergers".

Preparations for completion of the Mergers have been moving forward and are now in their final stages. Key dates for completion of the Mergers will be announced as soon as the exact date for completion has been determined.

Contacts:

Lars Peder Solstad, Chief Executive Officer of Solstad Offshore ASA at +47 913 18 585 or

Sven Stakkestad, Deputy Chief Executive Officer of Solstad Offshore ASA at +47 905 15 802

Karl-Johan Bakken, Chief Executive Officer of Farstad Shipping ASA at +47 901 05 697 or

Olav Haugland, Chief Financial Officer of Farstad Shipping ASA at +47 915 41 809.

Anders Hall Jomaas, Chief Financial Officer of Deep Sea Supply Plc at +47 400 42 918.

This information is published in accordance with the requirements of the Continuing Obligations of the Oslo Stock Exchange.

Farstad Shipping’s fleet currently consists of 56 vessels (27 AHTS, 22 PSV and 7 SUBSEA). The company’s operations are managed from Aalesund, Perth, Singapore, Macaé and Rio de Janeiro with a total of 1,325 employees engaged onshore and offshore. The company’s strategy is to be a leading quality provider of large, modern offshore service vessels to the oil industry.

www.farstad.com