Solstad Offshore ASA - Solstad Maritime Holding announces intention to list

22 Jan 2025 07:00 CET

Skudeneshavn, 22 January 2025: Solstad Maritime Holding AS (SMH or the Company)
today announces that it intends to apply for a listing of its shares on Euronext
Oslo Børs during Q2 2025. A listing is in line with the Company's previously
expressed intention to list within 12 months after completion of its NOK 750
million equity raise in June 2024, and supported by the Company's three main
shareholders, Aker Capital, Solstad Offshore and AMSC.

A listing of SMH is expected to facilitate further growth and development of the
Company's business, improve the Company's ability to pursue strategic
opportunities and provide a liquid market for the Company's shares.

SMH's largest shareholders are Aker Capital (42%), Solstad Offshore (27.3%), and
AMSC (19.6%). The board of directors of AMSC has informed the Company that it
intends to propose to distribute its 19.6% ownership stake in SMH to its
shareholders in connection with a listing of the Company, which will contribute
to substantially increase the free float in SMH's shares.

Completion of a listing is subject to, among other things, approval of a listing
application by Euronext Oslo Børs, approval of a listing prospectus by the
Norwegian Financial Supervisory Authority, conversion of the Company to a public
company (ASA), the Company fulfilling applicable listing requirements and
certain other conditions. SMH does not intend to carry out a share offering as
part of its listing.

"We look forward to delivering on the intention to list the Company on a
regulated market, as communicated when the company was refinanced in 2024, and
thereby making the share liquid for its shareholders. We continue to experience
a healthy market for offshore vessels, which is positive for the shareholders of
both Solstad Maritime Holding and Solstad Offshore." says Lars Peder Solstad,
CEO of Solstad Offshore.

Subject to, fulfilling the conditions for completing the listing set out above,
the Company is expected to have a first day of trading on Oslo Børs during Q2
2025. Further announcements relating to the listing will be made in due course.

SMH is a leading provider of specialized offshore tonnage to the global energy
markets, including the oil and gas and renewables industries. The Company owns
32 vessels, including 22 construction support vessels (CSVs) and 10 anchor
handling tug supply vessels (AHTS), and have more than 1,700 employees. SMH also
provides ROV, survey and other additional services to its Clients. The Company
has operations worldwide, with particular focus on Brazil, North Sea, Southeast
Asia, Australia and Africa.

Company Contacts:

Lars Peder Solstad CEO, at +47 91 31 85 85
Kjetil Ramstad CFO, at +47 907 59 489

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation article 7 and is subject to the disclosure requirements
pursuant to MAR article 17 and Section 5-12 the Norwegian Securities Trading Act
. The announcement was published by Kjetil Ramstad, CFO, at Solstad Offshore ASA
on 22 January 2025 07:00.

Forward-looking statements: This announcement contains certain forward-looking
statements. By their nature, forward-looking statements involve risk and
uncertainty because they reflect the company's current expectations and
assumptions as to future events and circumstances that may not prove accurate. A
number of material factors could cause actual results and developments to differ
materially from those expressed or implied by these forward-looking statements.

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