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Fred. Olsen Windcarrier ASA – Update on the initial public offering process

Reference is made to previous announcements by Fred. Olsen Windcarrier ASA (“FOWIC”)and Bonheur ASA on FOWIC pursuing an initial public offering (“IPO”) on the Oslo Stock Exchange.

During the book building the market conditions for IPOs have been severely impacted, not at least by geopolitical tensions.

FOWIC has now resolved to place the process on hold, and will consider resuming an IPO process given i.a. improved conditions.

FOWIC remains fully financed for its fleet upgrading program enabling its three vessels to efficiently install the next generation wind turbines, has a strong revenue backlog of € 355 million now, and will continue to pursue its long term strategies with a view to reinforce its position in a growing market.

For further queries, contact Richard Olav Aa, CFO Fred. Olsen & Co, +47 957 44 633, richard.olav.aa@fredolsen.com

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act