Belships

Share Issue/Capital Change • May 29, 2019

Belships ASA : EX RIGHT TO PARTICIPATE IN SUBSEQUENT OFFERING TODAY

Belships ASA : EX RIGHT TO PARTICIPATE IN SUBSEQUENT OFFERING TODAY

Reference is made to announcement made by Belships ASA ("Belships" or the

"Company") on 29 May 2019 regarding the successful completion of the private

placement and the decision by the Company's board of directors to initiate a

subsequent offering of up to 1,603,128 new shares directed at its existing

shareholders as of close of trading 28 May 2019, as subsequently recorded in the

VPS on 31 May 2019, who were not allocated shares in the Private Placement and

who are not resident in a jurisdiction where such offering would be unlawful or,

for jurisdictions other than Norway, would require any prospectus, filing,

registration or similar action (the "Subsequent Offering").

The shares in the Company will be traded ex right to participate in Subsequent

Offering as from today, 29 May 2019.

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.