Financial report for the 4th quarter 2021

• The market outlook for the company’s services continue to improve.
• Signed new contracts worth approximately NOK 2 billion in 4Q 2021.
• Revenues for 4Q 2021 increased with 11% to MNOK 1,303 vs MNOK 1,175 in 4Q 2020, while adjusted EBITDA increased with 43% to MNOK 291 vs MNOK 204 in 2020.
• Full-year revenues for 2021 increased with 8% to MNOK 5,404 vs MNOK 5,026 in 2020, while adjusted EBITDA increased with 20% to MNOK 1,533 vs MNOK 1,282 in 2020.
• Solstad launched a MNOK 300 green technology investment program and received a grant of MNOK 87 from Innovation Norway as financial support. to the investment.
• 80 vessels have been operating in the quarter, at an average utilization of 86%.
• As of end 4Q 2021 the Company has sold 25 of 37 vessels classified as non-strategic while 5 vessels has been sold after quarter end.

Skudeneshavn, February 24^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.