Mandatory notification of trade

Fausken Invest AS, a company controlled by Frank O. Reite, board member in Solstad Offshore ASA (“SOFF”) has today exercised its option to acquire 356,509 shares in SOFF at a price of NOK 3.1117 per share, pursuant to a put/call agreement with Aker Capital AS that was announced on 20 October 2020.

Following the exercise, Fausken Invest AS will own 356,509 shares and Aker Capital AS will own 18,849,493 shares in SOFF.

Please see attached primary insider notification form pursuant to the requirements of the Market Abuse Regulation article 19.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.