Fjord Defence Group ASA

Major Shareholding Notification • Jun 26, 2017

Disclosure of Acquisition of Large Shareholding -- Songa Bulk ASA

Disclosure of Acquisition of Large Shareholding -- Songa Bulk ASA

Evermore Global Advisors, LLC ("EGA"), a U.S. SEC-registered

investment adviser, is investment adviser to the Evermore

Global Value Fund (the "Fund"), an investment company

registered under the Investment Company Act of 1940, as well

as several institutional separate accounts (the "Fund" and

EGA's institutional separate accounts are collectively

referred to as "EGA's Managed Accounts"). Pursuant to

investment management agreements with EGA's Managed

Accounts, EGA has the power to make investment decisions and

vote shares on behalf of EGA's Managed Accounts.

On June 23, 2017, several of EGA's Managed Accounts

acquired 89,320 additional shares of Songa Bulk ASA ("Songa

Bulk") at an average price of NOK 38.30. After this

transaction, EGA's Managed Accounts held 3,608,240 shares of

Songa Bulk or 10.06% of Songa Bulk's total number of shares

outstanding and EGA had voting rights equivalent to 10.06%

of the total votes. After the transaction, the Fund held

2,148,278 shares of Songa Bulk or 5.99% of Songa Bulk's

total number of shares outstanding.