Fjord Defence Group ASA

Notice of Dividend Amount • Sep 14, 2018

Third payment date for dividend resolved on 6 July 2018

Third payment date for dividend resolved on 6 July 2018

Reference is made to the stock exchange notices made by Songa Bulk ASA ("Songa" or the "Company") on 25 June 2018 and 6 July 2018, and the key date announcement by Songa on 9 July 2018, regarding the distribution of dividend resolved on 6 July 2018 following closing of the transaction with Star Bulk Carriers Corp. ("Star Bulk").

The announced third payment date for distribution of dividend, as resolved on 6 July 2018, in the form of Consideration Shares in Star Bulk, to Songa Shareholders who have submitted the Representation and Warranties Letter between 15 August 2018 and 12 September 2018, is today, 14 September 2018.

For this distribution, a total of approx. USD 2.76 million will be distributed, corresponding to 203,380 Consideration Shares and approx. USD 52,300 in cash to cover fractions thereof and cash to Ineligible Shareholders. The Consideration Shares will be tradable on the Oslo Stock Exchange upon delivery.

For Songa Shareholders who did not complete and submit the Representation and Warranties Letter prior to 12 September 2018, the Company will seek to facilitate further distribution and in due course inform the market through Newsweb.

No dividend of any kind will be distributed to any person or entity that is a Songa Shareholder before such Songa Shareholder has completed the Representation and Warranties Letter and such Representation and Warranties Letter is received by Clarksons Platou Securities AS (on behalf of Star Bulk and Songa). Songa Shareholders that have already submitted the Representation and Warranties Letter to Clarksons are not required to submit new Representation and Warranties Letters.

This information is published in accordance with the requirements of the Continuing Obligations of Oslo Børs.

This notice does not constitute an offer to sell or the solicitation of any offer to buy any securities of Star Bulk. or any other entity. Any offering of securities would be made pursuant to separate documentation and any such securities would not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

Shares of Star Bulk. to be distributed in connection with the previously announced transaction with Songa will not be registered under the US Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under that.

For further information, please contact:

Herman Billung hb@blystad.no

Thomas Rønningen tr@blystad.no