Financial and operating highlights 1Q26 (1Q25 in brackets):

	Operating revenues were NOK 2 873 million (NOK 2 896 million)
	EBITDA was NOK 760 million (NOK 728 million)
	EBIT was NOK 476 million (NOK 404 million)
	Net result after tax was NOK 294 million (NOK 92 million)

Segment highlights 1Q26 (1Q25 in brackets):

Renewable Energy
o	EBITDA NOK 600 mill. (NOK 506 mill.)
o	Crystal Rig IV commenced operation during the quarter 
o	Improved generation (including curtailment) with 8% and improved power prices
in Scandinavia 
o	Outage for Mid Hill windfarm commenced on 15 September 2025 and is estimated
until late July 2026 without any compensation from the grid owner
o	Windy Standard III is progressing with estimated production start-up as
planned in 1Q 2027
o	FOS to acquire the remaining 50% of the Muir Mhòr offshore floating wind
project

Wind Service
o	EBITDA NOK 177 mill. (NOK 280 mill.)
o	Backlog of EUR 986 mill. (EUR 426 mill.) for the Tern vessels incl. a 10-year
firm contract this quarter
o	Utilisation of 59% (57%) 
o	Fred. Olsen Ocean and MEAG MUNICH ERGO Asset Management GmbH ("MEAG") agreed
that MEAG will invest EUR150 million with the first closing in the quarter of
which MEAG obtained a 17.05% non-controlling interest in Fred. Olsen Windcarrier

Cruise
o	EBITDA NOK 9 mill. (NOK -33 mill.)
o	Occupancy of 70% (63%) of full capacity 
o	22 nights in dry-dock for Bolette
o	Gross income per passenger day of GBP 240 (GBP 231)
o	Booking numbers are up 23% compared to last year

Other Investments
o	EBITDA NOK -26 mill. (NOK -25 mill.)
o	EBITDA for NHST NOK 31 mill. (NOK 31 mill.)
o	Fred. Olsen 1848, progressing several technologies and innovations within
floating wind and floating solar 
o	Fred. Olsen Investments currently manage investments within renewable energy
related companies.
 
Financial information

The unaudited Group accounts for the first quarter of 2026 comprise Bonheur ASA
(the "Company") and its subsidiaries (together the "Group of companies") and the
Group of companies' ownerships in associates.

The main business segments within which the Company is invested are categorized
as follows: Renewable Energy, Wind Service, Cruise and Other investments.

The Group of companies' operating revenues in the quarter amounted to NOK 2 873
million (NOK 2 896 million). Renewable Energy had operating revenues of NOK 930
million (NOK 774 million), Wind Service NOK 836 million (NOK 1 073 million),
Cruise NOK 791 million (NOK 737 million). Other investments had operating
revenues of NOK 317 million (NOK 312 million).

EBITDA in the quarter was NOK 760 million (NOK 728 million). Renewable Energy
achieved EBITDA of NOK 600 million (NOK 506 million), Wind Service NOK 177
million (NOK 280 million), Cruise NOK 9 million (NOK -33 million). Within Other
investments EBITDA was NOK -26 million (NOK -25 million). 

Depreciation in the quarter was NOK -284 million (NOK -325 million).

EBIT in the quarter was NOK 476 million (NOK 404 million).

Net financial items in the quarter were NOK -62 million (NOK -199 million). Net
interest expenses were NOK -65 million (NOK -75 million). In addition, there
were net unrealized gains on financial instruments of NOK 128 million (gains of
NOK 10 million), net unrealized foreign exchange losses of NOK -155 million (NOK
-103 million), gains in other investments of NOK 28 million (losses of NOK -11
million) and Other financial items amounted to NOK 2 million (NOK -20 million).

Net Result for the quarter was NOK 294 million (NOK 92 million), of which NOK 93
million (NOK -42 million) is attributable to the shareholders of the parent
company. The non-controlling interests' share of the net result was NOK 201
million (NOK 134 million).
 non-controlling interests' share of the net result was NOK 201\
million (NOK 134 million).\