Mandatory notifcation 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 12th March 2019 acquired 1,000,000 shares in Axactor SE("Axactor") at a purchase price of NOK 18.00 per share. Following the acquisition, Geveran will own 35,402,559 shares in Axactor which will constitute 22.84% 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 NOK 32.50 per share until 24 October 2019. Assuming all Warrants are exercised, Geveran would own 48,402,559 shares in Axactor constituting 31.23% of the shares and votes in Axactor. The foregoing calculations are based on 154,971,114 outstanding shares in Axactor. This information is subject to the disclosure requirements set out in sections 4-2 of the Norwegian Securities Trading Act.

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