NOL: New share capital registered

Reference is made to the stock exchange announcement made by Northern Ocean Ltd. ("NOL") on 6 October 2026 regarding the successful completion of a private placement of 105,547,756 new shares at a subscription price of NOK 6.50 per share (the "Private Placement" and the "New Shares").

The New Shares have now been registered in the Company's Register of Members as duly issued. Following the issuance of the New Shares, the Company has an issued share capital of USD 204,381,574, divided into 408,763,148 shares.

The 105,547,756 New Shares have been issued on a separate ISIN in the VPS and will not be listed and tradable on Oslo Børs until the publication of a listing prospectus to be approved by the Financial Supervisory Authority of Norway.

This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.