NOL: Addition to the Board composition

2 July 2026 – Hamilton, Bermuda

Northern Ocean Ltd. ("NOL") announces the appointment of Lars Pedersen as a Director.

Mr. Pedersen is an international maritime executive with more than 35 years of leadership experience across shipping and offshore support services. He has spent the past eight years with Frontline Management AS, where he serves as Chief Technical Officer, leading global fleet operations, digital transformation, ESG initiatives, and strategic growth, while also serving as Managing Director of Flex LNG Fleet Management. Previously, he held senior leadership positions with BW Group, A.P. Moller–Maersk, and Höegh. Lars brings extensive expertise in corporate governance, AI, Sale & Purchase (S&P), Mergers & Acquisitions (M&A), and major shipbuilding programs in China and South Korea. He serves on the board of Arundo Analytics and completed the Executive Board Leadership Programme at Copenhagen Business School.

Following the appointment of Mr. Pedersen, the Board consists of six directors.

For inquiries, please contact:

Arne Jacobsen, Chief Executive Officer: +971 55 639 0860 Jonas Ytreland, Chief Financial Officer: +47 994 65 550