FINANCIAL REPORT FOR THE 1st QUARTER 2017

– Operating income for 1st quarter was MNOK 568 (MNOK 750)
– Cash flow from operations (EBITDA) was MNOK 147 (MNOK 293)
– The merger with Farstad Shipping and Deep Sea Supply approved by the owners on April 25, 2017
– Increasing tender activity so far this year has resulted in several new contracts for the company with start-up after the end of the 1st quarter

Financial report for the 1st quarter 2017