Solstad Offshore ASA and SBM Offshore in partnership for a new installation vessel

01 Jun 2026 21:00 CEST

Skudeneshavn, 1 June 2026

Solstad Offshore ASA ("Solstad Offshore") and SBM Offshore have agreed to order
a new-build multi-purpose deepwater installation and construction vessel, with
targeted delivery in the first half of 2029.

The parties have formed a joint venture company which has entered into a Letter
of Intent with a selected shipyard for the construction of the vessel. The
vessel will be owned by a newly established joint venture, in which Solstad
Offshore will hold a 50.1% ownership interest and SBM Offshore 49.9%. Solstad
will act as ship manager.

The joint venture has entered into an initial 14-year charter agreement with SBM
Offshore, securing a minimum utilization of 270 days per year, with options for
SBM Offshore to extend the charter period within each year, and up to 11
additional years. When the vessel is not utilized for SBM Offshore, the joint
venture may charter the vessel to third parties.

The new vessel builds on the operational success of CSV Normand Installer that
Solstad Offshore and SBM Offshore have owned and operated jointly since 2006.
The existing frame agreement has been extended to give SBM Offshore access to
the Normand Installer until 2034.

 Lars Peder Solstad, CEO of Solstad Offshore ASA, commented:

"This project represents an important strategic step for Solstad Offshore.
Together with SBM Offshore, we are further developing a partnership that has
evolved over more than two decades, building on the proven performance of
Normand Installer and extending our installation capabilities into the future."

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 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. This announcement was published by Kjetil Ramstad, CFO of Solstad Offshore
ASA, on 1 June 2026 at 21:00.

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