Long-term contract for CSV Normand Ocean

26 Jun 2024 09:52 CEST

Solstad Offshore ASA ("Solstad") announces a new five-year contract for the CSV
Normand Ocean with Prysmian Powerlink Srl (Prysmian). With this contract, the
vessel will be on a firm contract with Prysmian until 2032, with an additional
two-year option.

Prysmian has contracted the CSV Normand Ocean to support the installation of
power cable systems on the company's global projects.

The firm contract will commence during the first or second quarter of 2027 and
run until 2032. If the two-year option is exercised, Normand Ocean will support
Prysmian until 2034.

With this contract, Normand Ocean joins CSV Normand Pacific, which is on a firm
contract with Prysmian until the end of 2030.

"We are pleased to announce another long-term contract with Prysmian, which
expands our partnership with the company that started back in 2016. Both Normand
Ocean and Normand Pacific play important roles in the ongoing energy transition,
in which Solstad has a large and growing footprint," says Lars Peder Solstad,
CEO at Solstad Offshore.

In 2023, Solstad grew its total operating income from offshore renewable energy
activities by 65 percent, to NOK 1.76 billion, compared to the prior year.

Normand Ocean, built in 2014, is an advanced DP2 subsea construction vessel
equipped with a 150-ton active heavy compensated subsea crane. The vessel is an
effective working platform for various demanding offshore activities.

Normand Ocean is owned by Solstad Maritime AS, in which Solstad Offshore ASA
holds an ownership share of 27,3 percent.

Skudeneshavn, 25. June 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

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