2023 Annual Report and Sustainability Report

2023 Annual Report and Sustainability Report

Issuer

Solstad Offshore ASA

Skudeneshavn, 30 April 2024 - Solstad Offshore ASA ("Company") has today
published its Annual Report and Sustainability Report for 2023.
The annual accounts and reports were approved by the Board of Directors on 30
April 2024. These numbers are in line with the preliminary 2023 accounts
published as part of Solstad Offshore ASA fourth quarter 2023 report on 29
February 2024 except for an additional impairment with no cash effect for the
Company.

During 2023 the Company has shown progress both operationally and financially.
Compared to 2022, we increased our operating income with approximately 46
percent, to MNOK 6.979, for continued operations. This resulted in an adjusted
EBITDA of MNOK 3.294, which was up from MNOK 1.650 the previous year. EBIT from
continued operations ended at MNOK 1.944, an improvement from MNOK 1.219 the
previous year. Profit before Tax ended at MNOK 345 compared to a negative MNOK
344 in 2022.

Both the Annual Report and Sustainability Report are enclosed to this
announcement.

The Company has also published its annual financial statements in European
Single Electronic Format (ESEF), also enclosed to this announcement and
available on the Company's website: www.solstad.com/investors/

Skudeneshavn, April 30[th], 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

This information is subject of the disclosure requirements pursuant to section 5

-12 of the Norwegian Securities Trading Act.

More information:
Access the news on Oslo Bors NewsWeb site

617426_5967007LIEEXZXHGO849_2023_12_31_en.zip
617426_Solstad_2023_report_21_en.pdf
617426_Sustainability_report_2023.pdf