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Dolphin Drilling AS Major Shareholding Notification 2016

Sep 9, 2016

3582_mrq_2016-09-09_7b5d8cba-b0d7-4d17-b23d-41a10215f4b7.pdf

Major Shareholding Notification

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NOTIFICATION OF SUBSTANTIAL SHAREHOLDING

KKR Credit Advisors (US) LLC, acting in the capacity as discretionary investment manager to underlying funds, sold on 9 August 2016 in total 105,000 shares of Fred Olsen Energy ASA (FOE NO) in the name of relevant funds listed below. This transaction resulted in an aggregate holding of 3,232,612 shares equalling 4.8469% per cent of the issued shares and votes in Fred Olsen Energy ASA (FOE NO), thereby passing below the 5% disclosure threshold.

As of 9 September 2016, funds managed by KKR Credit Advisors (US) LLC have a total holding of 1,918,497 shares equalling 2.8766% per cent of the current issued shares and votes in Fred Olsen Energy ASA (FOE NO). The aggregate shareholding is divided among managed funds as set out below:

Shares sold 9 August Shareholding as of 9 Sept
Legal entity: 2016 2016 %
Cortland Investors II 59,156 960,370 1.4400%
S.a.r.l
Maryland State
Retirement and Pension 1,161 18,846 0.0283%
System
Lyon Investors S.a.r.l. 44,683 725,400 1.0877%
Aggregated: 105,000 1,704,616 2.5559%

This disclosure is made pursuant to section 4-3 of the Norwegian Securities Trading Act.