Geveran Trading Co. Limited ("Geveran"), a company indirectly controlled by
trusts established by Mr. John Fredriksen for the benefit of his immediate
family, has on 5 January 2021 subscribed 50,000,000 new shares in Axactor SE
("Axactor"). On the same date, the 12,779,950 shares that were conditionally
allocated to Geveran in the private placement on 9 December 2020, became
unconditional. All new shares were subscribed at NOK 8 per share.  

Following the issuances of the new shares in Axactor, Geveran will own
122,017,772 shares, representing 44.31% of the outstanding share capital and
voting rights. The foregoing calculations are based on 275,395,464 outstanding
shares in Axactor. Geveran has confirmed that it will extend a mandatory offer
to for the remaining shares of Axactor.  

This information is subject to the disclosure requirements set out in section
4-2 of the Norwegian Securities Trading Act.

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