Board of Directors of Bonheur ASA

27 May 2026 14:03 CEST

Ahead of the Annual General Meeting (AGM) of Bonheur ASA today, 27 May 2026,
Fred. Olsen has decided to withdraw as Chair and member of the Board of Bonheur
ASA.

Fred. Olsen has chaired Bonheur for more than 70 years, and today the Bonheur
group of companies owns and operates both well-established and new businesses.
Going forward, Fred. Olsen wishes to devote his capacity to support the Bonheur
group of companies on business development activities rather than on more formal
duties.

“Our companies are in good shape — more than ever it is now about enhancing
opportunities, and that is what I want to focus on”, says Fred. Olsen.

In line with Anette Olsen’s choice, she will continue to lead the company both
as Managing Director and through Fred. Olsen & Co. AS. It follows by law that
she therefore cannot also be Chair of the Board.

Taking account of and appreciating Fred. Olsen’s decision, the Shareholders’
Committee (SC) in Bonheur today before the AGM elected Gaute Gjelsten as
non-executive Chair of the Board. Gaute Gjelsten has been a member of the Board
since the AGM in 2025 and a member of the SC from 2023 to 2025.

“It is a privilege to take on this role after Fred. Olsen’s extraordinary
stewardship. Bonheur ASA stands on a strong foundation, and I look forward to
working further with the Board and Fred. Olsen & Co. AS”, says Gaute Gjelsten.

Gjelsten co-founded the shipping, offshore & insurance litigation firm Gjelsten
Herlofsen Law in September 2022. Before that he spent 25 years in Wikborg
Rein,18 years as a partner, and also headed the firm's shipping and offshore
department.

The SC today also elected Jannicke Hilland, Carol Bell, Kristin Gjertsen and
Nick Emery for new two-year periods as board members.

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