Solstad Offshore : Subscription period for Subsequent Offering ends today

NOT FOR DISTRIBUTION, PUBLICATION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO
THE UNITED STATES, CANADA, AUSTRALIA, HONG KONG, NEW ZEALAND, SOUTH AFRICA OR
JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE
UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE. PLEASE SEE THE IMPORTANT NOTICE AT
THE END OF THE PRESS RELEASE.

Reference is made to the stock exchange notice by Solstad Offshore ASA (the
"Company") on 26 October 2020 regarding the commencement of the subscription
period for the subsequent offering of 1,336,973 new shares, each with a par
value of NOK 1.00 (the "Offer Shares") at a subscription price of NOK 2.80 per
share (the "Subsequent Offering").

The subscription period in the Subsequent Offering ends today, Monday 9 November
2020 at 16:30 CET. Correctly completed subscription forms must be received by
Arctic Securities AS, or, in the case of online subscriptions, be duly
registered, by such deadline. Subscription rights that are not used to subscribe
for Offer Shares by the said deadline will have no value and will lapse without
compensation to the holder.

For further information, please refer to the prospectus dated 19 October 2020
and the Company's stock exchange notices of 20 and 23 October 2020. The
prospectus, including the subscription form for the subsequent offering, is
available at https://www.solstad.com/ and https://www.arctic.com/.

Skudeneshavn, 9 November 2020

Contacts
Lars Peder Solstad CEO, at [phone]
Kjetil Ramstad CFO, at [phone]

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.

* * * * *

Important Notice:

This notice is not and does not form a part of any offer to sell, or a
solicitation of an offer to purchase, any securities of the Company.

Neither this notice nor any copy of it may be made or transmitted into the
United States, or distributed, directly or indirectly, in the United States.
Neither this notice nor any copy of it may be taken or transmitted directly or
indirectly into Australia, Canada, Japan, Hong Kong, New Zealand or South Africa
or to any persons in any of those jurisdictions, except in compliance with
applicable securities laws. Any failure to comply with this restriction may
constitute a violation of national securities laws. The distribution of this
notice in other jurisdictions may be restricted by law and persons into whose
possession this notice comes should inform themselves about, and observe, any
such restrictions. This notice does not constitute, or form part of, an offer to
sell, or a solicitation of an offer to purchase, any securities in Australia,
Canada, Japan, South Africa, Hong Kong, New Zealand or the United States or in
any jurisdiction to whom or in which such offer or solicitation is unlawful.

The securities referred to in this notice have not been and will not be
registered under the U.S. Securities Act of 1933, as amended (the "Securities
Act"), or any securities laws of any state or other jurisdiction of the United
States and may not be offered or sold within the United States except pursuant
to an exemption from, or in a transaction not subject to, the registration
requirements of the Securities Act and in compliance with applicable state law.
There will be no public offer of the securities in the United States.

This notice is an advertisement and does not constitute a prospectus for the
purposes of the Prospectus Regulation (EU) 2017/1129 (as amended, together with
any applicable implementing measures in any Member State, the "Prospectus
Regulation"). In any EEA Member State that has implemented the Prospectus
Regulation, this communication is only addressed to and is only directed at
qualified investors in that Member State within the meaning of the Prospectus
Regulation. In addition, in the United Kingdom, this notice is not being
distributed, nor has it been approved for the purposes of Section 21 of the
Financial Services and Markets Act 2000 ("FSMA"), by a person authorized under
FSMA and is directed only at persons who (i) are outside the United Kingdom,
(ii) are investment professionals falling within Article 19(5) of the U.K.
Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as
amended) (the "Order") or (iii) high net worth companies, and other persons to
whom it may lawfully be engaged with, falling within Article 49(2)(a) to (d) of
the Order (all such persons in (i), (ii) and (iii) above together being referred
to as "relevant persons"). Under no circumstances should persons who are not
relevant persons rely or act upon the contents of this notice. Any investment or
investment activity to which this notice relates in the United Kingdom is
available only to, and will be engaged only with, relevant persons.

Matters discussed in this notice may constitute forward-looking statements.
Forward-looking statements are statements that are not historical facts and may
be identified by words such as "believe", "expect", "anticipate", "strategy",
"intends", "estimate", "will", "may", "continue", "should" and similar
expressions. The forward-looking statements in this release are based upon
various assumptions, many of which are based, in turn, upon further assumptions.
Although the Company believes that these assumptions were reasonable when made,
these assumptions are inherently subject to significant known and unknown risks,
uncertainties, contingencies and other important factors which are difficult or
impossible to predict and are beyond its control. Such risks, uncertainties,
contingencies and other important factors could cause actual events to differ
materially from the expectations expressed or implied in this release by such
forward-looking statements.

The information, opinions and forward-looking statements contained in this
notice speak only as at its date, and are subject to change without notice. The
Company does not undertake any obligation to review, update, confirm, or to
release publicly any revisions to any forward-looking statements to reflect
events that occur or circumstances that arise in relation to the content of this
notice.

The distribution of this notice and other information may be restricted by law
in certain jurisdictions. Persons into whose possession this notice or such
other information should come are required to inform themselves about and to
observe any such restrictions.

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