Pursuant to the exchange offer (the “Exchange Offer”) by Northern Drilling Ltd.
(“NODL”) and Northern Ocean Ltd. (“NOL”) as well as further purchases of shares
in NOL, funds managed by Hayfin Capital Management LLP own 6,325,963 shares in
NOL, which represents 9.915% of the issued share capital and voting rights of
NOL.
 
Furthermore, as a result of the Exchange Offer, the number of shares owned by
funds managed by Hayfin Capital Management LLP in NODL has reduced to 519,570
shares, which represents 3.221% of the issued share capital and voting rights of
NODL.

This notification is made pursuant to Section 4-3 of the Norwegian Securities
Trading Act.