Financial report for the 3rd quarter 2022

• A quarter with high utilization and improved commercial terms across all geographical regions and vessel segments.
• The market continue to strengthen despite a challenging macroeconomic environment.
• Revenues for 3Q 2022 increased by 24 percent to MNOK 1,861 vs MNOK 1,500 in 3Q 2021.
• EBITDA adjusted increased by 44 percent to MNOK 721 vs MNOK 500 in 3Q 2021. The highest quarterly EBITDA adjusted result in the Company’s history.
• Continued weakening in NOK against USD is materially impacting unrealized currency loss in quarter.
• The positive order intake continues in 3Q 2022 with new contracts signed for approximately BNOK 2,3.
• During the quarter, 80 vessels have been in operation at an average utilization of 92 percent.

Skudeneshavn, November 17^th, 2022

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 according to the Norwegian Securities Trading Act section § 5-12.