13 January, 2022 - Hamilton, Bermuda
 
Reference is made to the announcement by Northern Ocean Ltd ("NOL" or the
"Company") on 29 December 2021 regarding the issued a Notice of Proposed Written
Resolution of the Shareholders, proposing the reduction of the nominal value of
each NOL share to $0.50 (the "Proposal"). The majority requirement for the
Proposal is 50% of the issued share capital of the Company (a "Relevant
Majority"). 

The Company hereby announces that the Proposal has been carried by a Relevant
Majority. The new nominal value of each shares of the Company's issued and
authorised share capital is $0.50. 

Additional information about the Company can be found at: www.northernocean.no.