NOL: Last day of the offer period under the mandatory offer

THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR
INDIRECTLY, IN CANADA, JAPAN, AUSTRALIA, HONG KONG, SOUTH AFRICA AND NEW
ZEALAND, OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR
DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER
OF ANY OF THE SECURITIES DESCRIBED HEREIN.

9 September 2026 - Reference is made to the stock exchange announcement made on
11 August 2026 where it was announced that the Norwegian Financial Supervisory
Authority had approved an offer document (the "Offer Document") for Hemen
Holding Limited's mandatory offer (the "Offer") for all the issued and
outstanding shares in Northern Ocean Ltd. ("NOL") not already owned by Hemen at
an offer price of NOK 7.50 per Share.

The offer period for the Offer expires today, 9 September 2026 at 16:30 CEST.
The offer period is not subject to any extension. 

The Offer Document has been sent to all shareholders in NOL as registered in
NOL's shareholder register in the VPS as of the date of the Offer Document,
except to jurisdictions where the Offer Document may not be lawfully
distributed. The complete terms and conditions of the Offer, including the
procedures for how to accept the Offer, are set out in the Offer Document,
which, subject to applicable regulatory restrictions, is available digitally at
www.paretosec.com/transactions.

Shareholders who wish to accept the Offer must fill out and return the
acceptance form, which is appended to the Offer Document, prior to 16:30 CEST
today, 9 September 2026, and in accordance with procedures set out in the Offer
Document. In accordance with the terms of the Offer, cash settlement will be
made promptly and no later than within 14 calendar days after expiry of the
Offer Period. The latest date on which cash settlement will be made is
accordingly on 23 September 2026. 

For further information, please contact: 

Pareto Securities AS 
Tel: +47 22 87 87 00

Important notice: 
The mandatory offer and the distribution of this announcement and other
information in connection with the mandatory offer may be restricted by law in
certain jurisdictions. When published, the Offer Document and related acceptance
forms will not and may not be distributed, forwarded or transmitted into or
within any jurisdiction where prohibited by applicable law, including, without
limitation, Canada, Japan, Australia, Hong Kong, South Africa, and New Zealand.
The Offeror does not assume any responsibility in the event there is a violation
by any person of such restrictions. Persons into whose possession this
announcement or such other information should come are required to inform
themselves about and to observe any such restrictions. This announcement is not
a tender offer document and, as such, does not constitute an offer or the
solicitation of an offer to acquire shares in the Company. Investors may accept
the mandatory offer only on the basis of the information provided in the Offer
Document. Offers will not be made directly or indirectly in any jurisdiction
where either an offer or participation therein is prohibited by applicable law
or where any tender offer document or registration or other requirements would
apply in addition to those undertaken in Norway.
egistration or other requirements would\
apply in addition to those undertaken in Norway.\