Mandatory notification of trade

Reference is made to the stock exchange announcement published by Solstad Offshore ASA ("SOFF") on 29 May 2024 regarding the offering of shares in Solstad Maritime Holding AS ("SMH").

Jarsteinen AS has today exercised 4,735,966 subscription rights (NOTC: SOFMART) in SMH for a total of approximately NOK 56 million. This equals approx. 1.0% of the fully diluted shares in SMH. Jarsteinen AS does not currently own any shares in SMH.

Jarsteinen AS has also sold 3,500,000 subscription rights in SMH at a price of NOK 9.10 per subscription right, which equals total proceeds of NOK 31.85 million.

Before the sale of subscription rights, Jarsteinen AS owned 8,235,966 subscription rights in SMH.

Jarsteinen AS owns approx. 7,33% of the shares in SOFF and is a close associate of primary insiders in SOFF and SMH due to being indirectly owned 60% by Lars Peder Solstad (CEO in SMH and SOFF) and 20% by Ellen Solstad (member of SOFF ASA’s board of directors).

SOFF owns appx 27% of SMH on a fully diluted basis. The shares in SMH are linked to SOFF's shares, cf. the Market Abuse Regulation article 19.

Please refer to the attached notification of trading for further details.

This disclosure is made pursuant to article 19 of the EU Market Abuse Regulation and section 5-12 of the Norwegian Securities Trading Act.