Normand Maximus AS is a wholly owned subsidiary of Solstad Offshore ASA (“SOFF”). Pursuant to the BBCP, Normand Maximus AS has an option to purchase Normand Maximus after five years of chartering—i.e., in October 2027—with 12 months advance notice. The purchase option price is $125,000,000. Normand Maximus AS has today declared the option to purchase Normand Maximus in October 2027.