Report for the 1st quarter 2015

FRED.OLSEN ENERGY ASA (FOE) REPORTS AN OPERATING PROFIT BEFORE DEPRECIATION
(EBITDA) OF USD 157 MILLION IN 1Q 2015

HIGHLIGHTS

· Revenues were 284 million
· EBITDA was 157 million
· Operating profit  (EBIT) was 66 million
· Profit before tax was 75 million
· Earnings per share were 1.05