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Dolphin Drilling AS Board/Management Information 2017

Aug 14, 2017

Board/Management Information

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Change in the Board of Directors

Fred. Olsen Energy ASA hereby informs that with effect from today, August 14,

2017, Mr. Agnar Gravdal has stepped down as Director of The Board of Fred. Olsen

Energy ASA.

The Board will thereafter consist of:

Anette S. Olsen (Chairman)

Cecilie B. Heuch (Director)

Jan Peter Valheim (Director)

Richard Olav Aa (Director)