Axactor SE

Major Shareholding Notification • Aug 15, 2019

DISCLOSURE OF TRADE

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 15th August 2019 acquired 210,000 shares in Axactor SE

("Axactor") at a purchase price of NOK 16.4986 per share. Following the

acquisition, Geveran will own 42,985,233 shares in Axactor which will constitute

27.66% 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 55,985,233 shares in Axactor constituting 36.03% of the shares

and votes in Axactor. The foregoing calculations are based on 155,395,464

outstanding shares in Axactor. This information is subject to the disclosure

requirements set out in section 4-2 of the Norwegian Securities Trading Act.