2023 Annual Report and Sustainability Report

Skudeneshavn, 30 April 2024 – Solstad Offshore ASA (“Company”) has today published its Annual Report and Sustainability Report for 2023.

The annual accounts and reports were approved by the Board of Directors on 30 April 2024. These numbers are in line with the preliminary 2023 accounts published as part of Solstad Offshore ASA fourth quarter 2023 report on 29 February 2024 except for an additional impairment with no cash effect for the Company.

During 2023 the Company has shown progress both operationally and financially. Compared to 2022, we increased our operating income with approximately 46 percent, to MNOK 6.979, for continued operations. This resulted in an adjusted EBITDA of MNOK 3.294, which was up from MNOK 1.650 the previous year. EBIT from continued operations ended at MNOK 1.944, an improvement from MNOK 1.219 the previous year. Profit before Tax ended at MNOK 345 compared to a negative MNOK 344 in 2022.

Both the Annual Report and Sustainability Report are enclosed to this announcement.
 

The Company has also published its annual financial statements in European Single Electronic Format (ESEF), also enclosed to this announcement and available on the Company's website: www.solstad.com/investors/

Skudeneshavn, April 30[th], 2024

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

This information is subject of the disclosure requirements pursuant to section 5

-12 of the Norwegian Securities Trading Act.