Fred. Olsen Energy ASA: Report for the 1st Quarter 2014

Regulatory News:

Fred. Olsen Energy (OSE:FOE):

Figures in USD

FRED. OLSEN ENERGY ASA (FOE) REPORTS AN OPERATING PROFIT BEFORE DEPRECIATION (EBITDA) OF USD 102 MILLION IN 1Q 2014

HIGHLIGHTS

· Revenues were 278 million

· EBITDA was 102 million

· Operating profit (EBIT) was 39 million

· Profit before tax was 25 million

· Earnings per share were 0.35

· Change of reporting currency to USD

· New bond loan – NOK 1.100 million

· Bolette Dolphin delivered 21st February 2014

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