DISCLOSURE OF TRADE
Geveran Trading Co. Limited ("Geveran"), a company indirectly controlled by trusts established by Mr. John Fredriksen for the benefit of his immediate family, has on 20th December 2018 acquired 2,484,015 shares in Axactor SE ("Axactor") at a purchase price of NOK 18.7996 per share. Following the acquisition, Geveran will own 31,195,749 shares in Axactor which will constitute 20.13% of the shares and votes in Axactor. Geveran also holds 13,000,000 warrants exchangeable into 13,000,000 ordinary shares in Axactor (the "Warrants"). The Warrants entitles Geveran to subscribe Axactor shares at