Report for the 1st quarter 2013

Figures in NOK

FRED. OLSEN ENERGY ASA (FOE) REPORTS AN OPERATING PROFIT BEFORE DEPRECIATION (EBITDA) OF 791 MILLION IN 1Q 2013

HIGHLIGHTS

• Revenues were 1,591 million
• EBITDA was 791 million
• Operating profit (EBIT) was 446 million
• Profit before tax was 469 million
• Earnings per share were 6.7
• Borgny Dolphin - secured a 1 year contract extension

Post quarter events:
• Borgland Dolphin - awarded a 3 well contract extension, estimated to six months