Class action claims initiated against board members of SOFF

Reference is made to the refinancing of Solstad Offshore ASA ("SOFF") as set out in SOFF's stock exchange communications of 23 October 2023 and 16 January 2024.

The board members and the CEO of SOFF have been notified that Kistefos AS and Kistefos Investment AS have filed a class action claim against them and Aker Capital AS before Ringerike, Asker and Bærum District Court in order to seek compensation for the alleged losses incurred by Kistefos AS and Kistefos Investment AS a result of the refinancing.

No claims have been made by the Kistefos entities against SOFF.

The board members and the CEO of SOFF consider that the claim of Kistefos AS and Kistefos Investment AS is without merit. The board's view of the refinancing is set out in its letter to the shareholders of 16 January 2024, as attached to its stock exchange communication of the same date.

Skudeneshavn, 16 May 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