NOL: Disclosure of Shareholding

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 for Hemen Holding Limited's ("Hemen") 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 NOL share.

Grosvenor Holding Limited ("Grosvenor") has today, 4 September 2026, accepted the Offer for its 45,482,308 shares in NOL, representing 15% of NOL's issued share capital and voting rights.

Accordingly, upon completion of the Transaction, Grosvenor will hold no shares or votes in NOL, and consequently, Grosvenor has fallen below the 15%, 10%, and 5% thresholds set out in the Norwegian Securities Trading Act.

This notification is made pursuant to Section 4-2 of the STA.