OCEANTEAM ASA - Dutch Jos van Dijk appointed Group

PRESS RELEASE                    Amsterdam, Bergen - 25 September 2017

Per 1 October 2017, Mr. J. van Dijk (1969) has been appointed Group Chief Financial Officer (CFO) of Oceanteam ("the Company"), the Norwegian-Dutch offshore service provider listed at the Oslo stock exchange. Van Dijk, a seasoned financial executive, brings in all relevant international offshore, maritime and civil engineering related experiences, including leadership capabilities that the Company is in need for after a rocky, but successful, financial restructuring that was closed last June 2017.

The appointment of Mr. Van Dijk follows the leave of former CFO Torbjorn Skulstad in November 2016, and the suspension of interim CFO Wilhelm Bohn in July 2017. As a Group CFO Van Dijk will have a direct report to non-executive director Diederik Legger who was appointed in July 2017 representing Oceanteam's bondholders and owning the Finance portfolio within the Board.

"Now we are recovering from the burden of the financial restructuring that we closed in June 2017, the mismanagement of our former two CFO's and the time consuming and intensive discussions with our bondholders and shareholders, our new Group CFO can start building upon a new financial foundation that we have created for a promising future of our Company. And thus for our shareholders, staff, clients and suppliers", says CEO Haico Halbesma.

"It is key that Van Dijk will focus on a two-fold mission. His first set of priorities is a) to keep Oceanteam aligned and in compliance with current governance and reporting standards, b) to further professionalize internal reporting structures including those that are in place with our joint venture partners, and c) to strictly monitor our recurring cost savings program called CHALLENGER of which our recently launched procurement code of conduct is part of. His second set of priorities is to work closely with the board in order to sustain the constructive relationships we have with our banks, investors and the relevant financial authorities in Norway, the Netherlands, Singapore and Mexico."

Before joining Oceanteam, Jos van Dijk CMA CFM (Dutch nationality) held several CFO and other senior financial positions with leading Dutch companies, among others at Mammoet (heavy transport and logistics; 2014-to date), at ADVIN/ Dura Vermeer (civil engineering; 2011-2014) and  at Heerema Marine Contractors (oil and gas; 2008-2011). He holds degrees from Erasmus University Rotterdam (Master of Business Economics), University of Amsterdam (CMA, CFM, IFRS), Nyenrode Business University (advanced management program) and Lausanne (CH) based IMD (International Institute for Management Development).

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About Oceanteam ASA

The Company is comprised of two operating segments, Oceanteam Shipping and Oceanteam Solutions. Oceanteam Shipping owns, charters and manages deep-water offshore support vessels and fast support vessels. Oceanteam Solutions focus is to provide its clients with complete offshore solutions. Oceanteam ASA has been active in the industry as an offshore solutions provider for over ten years.

For more information: www.oceanteam.no

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.