Lewek Connector: Short-term charter contract

Reference is made to the stock exchange release from Ocean Yield ASA ("Ocean Yield") dated 13 February 2017, regarding termination of the bareboat charter of the Lewek Connector (the "Vessel"), and a potential new short-term contract for the Vessel to a related company of Ezra Holdings Ltd. ("Ezra") at a reduced rate.

Connector 1 AS (a wholly owned subsidiary of Ocean Yield) has now entered into a contract for the Vessel to a related company of Ezra for a period of four months at a rate of USD 40,000 per day.

Ocean Yield will continue to participate in the discussions regarding a financial restructuring of the EMAS Chiyoda Subsea Group.

Company contacts: Lars Solbakken, CEO of Ocean Yield ASA Phone: +47 24 13 01 90

Eirik Eide, CFO of Ocean Yield ASA Phone: +47 24 13 01 91

Investor Relations contact: Marius Magelie, SVP Finance & IR of Ocean Yield ASA Phone: +47 24 13 01 82

This notice is issued pursuant to Section 5-12 of the Norwegian Securities Trading Act