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KNOT Offshore Partners LP Announces declaration of option to extend Bodil Knutsen time charter

September 15, 2016

ABERDEEN, Scotland--(BUSINESS WIRE)-- KNOT Offshore Partners LP (the “Partnership”) (NYSE:KNOP) announced the following today:

The Partnership is pleased to inform that Statoil ASA has declared the last two optional year of the time charter of the vessel Bodil Knutsen on terms according to existing contract. The firm contract period is thus extended from May 2017 to May 2019

In connection with the early declaration by Statoil ASA of these optional years for the vessel, the Partnership has granted Statoil ASA new five one-year options.

The Partnership owns, operates and acquires shuttle tankers under long-term charters in the offshore oil production regions of the North Sea and Brazil. The Partnership is structured as a master limited partnership. The Partnership’s common units trade on the New York Stock Exchange under the symbol “KNOP.”

Source: KNOT Offshore Partners

KNOT Offshore Partners LP

John Costain, 44 749 6170 620

Chief Executive Officer and Chief Financial Officer

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