Annual General Meeting

The Annual General Meeting (AGM) of Fred. Olsen Energy ASA was held today, Tuesday 27 May 2014. All proposals on the agenda were adopted in accordance with the Summon for the Annual General Meeting which was sent to the Oslo Stock Exchange on 5 May 2013.

The AGM of Fred. Olsen Energy ASA has today approved the financial statements and annual report of Fred. Olsen Energy ASA and the Group for 2013 as well as the Board's proposal of an ordinary dividend of NOK 10 per share and an extraordinary dividend of NOK 10 per share. The dividend is estimated to be paid on or about 20th June 2014 to shareholders registered as holding shares on the date of the AGM.

As of 28 May 2014, the shares will be traded exclusive of dividend.

Please find enclosed the protocol from the AGM.