Fjord Defence Group ASA

Pre-Annual General Meeting Information • Dec 17, 2018

Songa Bulk ASA - Reminder to receive consideration shares in Star Bulk Carriers Corp (“SBLK”)

Songa Bulk ASA - Reminder to receive consideration shares in Star Bulk Carriers Corp (“SBLK”)

Reference is made to previous stock exchange announcements regarding the distribution by Songa Bulk ASA (the “Company” or “Songa”) of shares in Star Bulk Carriers Corp. (the "Consideration Shares") to the shareholders of Songa (the “Songa Shareholders"). Songa is currently holding certain Consideration Shares on behalf of the Songa Shareholders who have not yet submitted a completed Representation and Warranties Letter ("R&W Letter") which is a pre-condition to receiving their Consideration Shares.

As of the date of this release, Songa has resolved to distribute Consideration Shares to its shareholders as of the following dates:

1. 0.31589 Consideration Shares distributed per Songa Share held on 10 July 2018 (as evidenced by registration in the shareholder registry on 12 July 2018);

2. 0.04629 Consideration Shares distributed per Songa Share held on 21 August 2018 (as evidenced by registration in the shareholder registry on 23 August 2018;

3. 0.0196 Consideration Shares distributed per Songa Share held on 3 October 2018 (as evidenced by registration in the shareholder registry on 5 October 2018).

Songa Shareholders who have not yet received relevant Consideration Shares, but held shares of Songa on one or more of the dates above, are entitled to receive the above referenced distributions of the Consideration Shares and/or cash as set out above and in our prior stock exchange announcements, provided that such Songa Shareholder complete the R&W Letter and submit it to Clarksons Platou Securities AS at songa@clarksons.com on or prior to 18 January 2019. The distribution is expected to be made by the end of January 2019.

The form of the R&W Letter is attached to this notice.

Please note that no Consideration Shares and/or cash will be distributed to any person or entity before the applicable R&W Letter, duly signed by such person or entity, has been received by Clarksons Platou Securities AS. Remaining Songa Shareholders who fail to return a complete R&W Letter by 12:00 (CET) on 18 January 2019 will only receive their distribution at a later time to be determined. Songa urges the remaining Songa Shareholders to complete the R&W Letter in order to be able to receive their distributions.

Cash-in-lieu for any fractional Consideration Share will be paid. Songa Shareholders that are identified as "Non-accredited US investors" or who are entitled to receive less than one (1) whole Consideration Share will receive the distributions as a cash distribution equal to the market value of the Consideration Share (calculated at the time of distribution).

For further information, please contact:

Thomas Rønningen: tr@blystad.no

This notice does not constitute an offer to sell or the solicitation of any offer to buy any securities of Star Bulk Carriers Corp. 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 Carriers Corp. to be distributed in connection with the previously announced transaction with Songa Bulk ASA 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.