Large Shareholding Disclosure

On 7 October 2026, Adage Capital Partner's, L.P. a fund managed by Adage Capital Management, LP (the "Manager") was allocated 5,211,845 shares in Northern Ocean, Ltd (ticker NOL NO) (the "Company") in the private placement announced on 6 October 2026 (the "Private Placement"), resulting in the Manager exceeding above the 5% reportable threshold of the voting rights and share capital in the Company.

Following the Private Placement, the Manager will control a total of 18,792,674 shares, corresponding to 6.1977% of the votes and shares outstanding.

This disclosure is made pursuant to section 4-2 cf. section 4-3 of the Norwegian Securities Trading Act