01/16/2017

FOE 05 Bond Agreement

Fred Olsen Energy (FOE or the Company) is aware of current media attention relative to i.a. the Company's position with bondholders under the FOE 05 Bond.

The Company has not been advised of an establishment of negative control in this regard.

FOE believe it is in the best interest of all stakeholders to support the proposition before the Bondholders' Meeting summoned for 26 January 2016.