Launch of offer to purchase existing shares in Solstad Maritime Holding AS by Solstad Shipholding AS

Launch of offer to purchase existing shares in Solstad Maritime Holding AS by Solstad Shipholding AS

Issuer

Solstad Offshore ASA

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY IN UNITED STATES,
CANADA, AUSTRALIA, JAPAN OR ANY JURISDICTION IN WHICH THE DISTRIBUTION OR
RELEASE WOULD BE UNLAWFUL. THIS INCLUDES SHAREHOLDERS WHO HAVE CHANGED THEIR
DOMICILE TO SUCH JURISDICTIONS BUT WHICH MAY ACCESS THEIR VPS ACCOUNTS. PLEASE
SEE IMPORTANT NOTICE AT THE END OF THIS COMMUNICATION.

Reference is made to the stock exchange announcements published by Solstad
Offshore ASA ("SOFF") on 12 June 2024 regarding the successful placement of
63,497,303 new shares (the "Issuance") in Solstad Maritime Holding AS ("SMH"),
and on 4 June 2024, regarding a potential offer by Solstad Shipholding AS
("SHAS") to purchase existing shares in SMH (the "Offer").

SHAS, a wholly owned subsidiary of SOFF, hereby launches an offer to purchase up
to, but not more than, 200 existing shares in SMH from each of those investors
which were allocated 200 or less new shares in the Issuance.

The fixed offer price is NOK 21.93 per Share (the "Offer Price"), calculated as
the aggregate of the subscription price per share in the Issuance, NOK 11.82,
and the volume weighted average trading price for the subscription rights in the
Issuance, NOK 10.11.

The purpose of the Offer is to facilitate that minority shareholders in SMH may
dispose of their new shares in SMH at a price which gives them the opportunity
to capitalise on the average value of the subscription rights on a cost-free
basis.

Prior to the Offer SHAS holds 126,903,553 shares in SMH.

SHAS has mandated Pareto Securities AS as manager (the "Manager") in the Offer.

In order to validly participate in the Offer, shareholders wanting to sell
shares must either (i) ensure that the attached acceptance form is completed in
full and is received by the Manager at [email protected], or (ii) contact
the Manager at +47 22 87 87 50, before the end of the Acceptance Period (as
defined below).

The acceptance period commences today, 13 June 2024 at 09:00 CEST and will close
on 26 June 2024 at 16:30 CEST (the "Acceptance Period"). Allocations in the
Offer are expected to be made available by the Manager on or about 28 June 2024.
Participating shareholders may contact the Manager from 12:00 CEST on the day
allocations are made available to obtain information about such allocations. The
allocated shares are expected to be collected from the respective VPS accounts
of the shareholders with allocations on or about 28 June 2024. The cash
settlement towards the shareholders with allocations is expected to occur on or
about 2 July 2024.

For further information, please contact:

Lars Peder Solstad CEO, at +47 91 31 85 85

Kjetil Ramstad CFO, at +47 90 75 94 89

Pareto Securities AS, at +47 22 87 87 50

Solstad Maritime Holding AS (www.solstad.com/solstad-maritime)

IMPORTANT NOTICE

The Offer will be carried out in accordance with applicable laws and regulations
and information pertaining to the Offer will be disclosed by way of stock
exchange notices.

Shareholders considering to tender their shares in the Offer are advised to
consult with their own tax advisers with respect to the tax position in their
country of residence or other jurisdictions to which they may have a tax
liability as a result of a sale of shares in the Offer.

The Offer and the distribution of this announcement and other information in
connection with the Offer may be restricted by law in certain jurisdictions
(including, but not limited to, the United States, Canada, Australia and Japan).
None of SHAS or the Manager assume any responsibility in the event there is a
violation by any person of such restrictions. This includes shareholders who
have changed their domicile to such jurisdictions but which may access their VPS
accounts. Persons into whose possession this announcement or relevant
information should come are required to inform themselves about and to observe
any such restrictions. The Offer is not being made directly or indirectly in, or
by use of the mails of, or by any means or instrumentality of interstate or
foreign commerce of, or any facilities of a national securities exchange of, the
United States of America, its territories and possessions, any State of the
United States and the District of Columbia (the "United States") or any other
jurisdiction in which this would be unlawful, require registration or other
measures. This includes, but is not limited to, facsimile transmission, internet
delivery, e-mail and telephones. Copies of this release and any related
documents are not being, and must not be, mailed, e-mailed or otherwise
distributed or sent in or into the United States or any such jurisdiction and so
doing may invalidate any purported acceptance.

More information:
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621340_Solstad_Maritime_Holding_AS_Acceptance_form_19458160_1_1_pdf.pdf