Fred. Olsen Seawind assumes 100% ownership of Muir Mhòr Floating Offshore Wind Farm project

Fred. Olsen Seawind Limited (Fred. Olsen Seawind), an indirect wholly owned subsidiary of Bonheur ASA, and Vattenfall have agreed, that Fred. Olsen Seawind will assume 100% ownership of the incorporated Muir Mhòr floating offshore wind project by taking over Vattenfall’s current 50% ownership. The transaction is subject to receiving regulatory approvals.

The change of ownership will take the form of a share sale, under which Fred. Olsen Seawind will acquire Vattenfall’s 50% share in the project. For accounting purposes, Fred. Olsen Seawind will continue its investment book value as at 31 December 2025, from which point in time it will assume economic ownership of the project on a 100% basis.

Muir Mhòr was awarded seabed rights in 2022 as part of the ScotWind leasing round and is one of the world’s first commercial scale floating offshore wind projects. It is located off the Aberdeenshire coast, approximately 63 km from Peterhead. The project is targeting an early allocation round and is on track to start generating clean, renewable power in the early 2030s.

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to the Norwegian Securities Trading Act section 5-12. This stock exchange announcement was published by Øyvind Engesrønning, VP Finance in Fred. Olsen & Co. AS, on 22 April 2026 at 12:30 CET.