OFFSHORE WIND TRANSPORT AND INSTALLATION CONTRACT

Fred. Olsen Windcarrier International Ltd., which is indirectly owned 50/50 by Bonheur ASA and Ganger Rolf ASA, has been awarded a contract by the German company Global Tech I Offshore Wind GmbH for transport and installation work of Areva 5MW wind turbines and associated equipment at the Global Tech I wind farm in the German exclusive economic zone (EEZ). The contract commences in December 2013 and is anticipated to take 110 days with options for extensions. The work will be performed using the installation vessel "Brave Tern". The contract includes the provision of installation technicians from Global Wind Service A/S (DK) a company indirectly owned 51% by Bonheur ASA and Ganger Rolf ASA.