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Dolphin Drilling AS Director's Dealing 2016

Jul 22, 2016

Director's Dealing

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Mandatory notification of trade

Primary insider Hjalmar Krogseth Moe, CFO of Fred. Olsen Energy ASA (FOE), has

today, 22 July 2016 acquired 10,000 shares in FOE at a price of NOK 16.40 per

share. After the transaction, Hjalmar Krogseth Moe holds 10,000 shares in FOE.

This information is subject of the disclosure requirements pursuant to section 5

-12 of the Norwegian Securities Trading Act