Fjord Defence Group ASA — Capital/Financing Update 2017

May 29, 2017

Potential issuance of 5-year senior secured bond

Potential issuance of 5-year senior secured bond

Songa Bulk ASA has, as part of the previously communicated strategy

to take on moderate leverage, mandated ABG Sundal Collier ASA to

arrange a series of fixed income investor meetings in the Nordics

commencing on 29 May 2017.

Following the investor meetings and subject to inter alia market

conditions, the company may issue a 5-year senior secured bond. If

concluded, net proceeds from such transaction will be used to

finance acquisition of additional vessels.

Songa Bulk will continue its low cost efficient operational platform

with focus on returning capital to its shareholders through asset

sales and/or dividends as the market recovers. Please see our

webpage: www.songabulk.no for more information.

For further information, please contact:

Herman Billung, CEO

Oslo, 29 May 2017

Songa Bulk ASA