Reference is made to the announcement by Northern Ocean Ltd. ("NOL" or the
"Company") on 13 January 2022 regarding a private placement of new shares by
NOL. Funds managed by Hayfin Capital Management LLP have today acquired and
subscribed for 24,000,000 shares in the Company, following which funds managed
by Hayfin Capital Management LLP will own 30,771,576 shares in NOL, which
represents approximately 29.64% of the issued share capital and voting rights in
the Company after the registration of the new shares in the relevant registers.

This notification is made pursuant to Section 4-2 of the Norwegian Securities
Trading Act.