Mandatory notification

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

7th May 2018 acquired 3,600,000 shares in Axactor AB (publ) ("Axactor") at a purchase price of NOK 2.7603 per share. Following the acquisition, Geveran will own 195,502,500 shares in Axactor which will constitute 12.66% of the shares and votes in Axactor.

Geveran also holds 130,000,000 warrants exchangeable into 130,000,000 ordinary shares in Axactor (the "Warrants"). The Warrants entitles Geveran to subscribe Axactor shares at NOK 3.25 per share until 24 October 2019. Assuming all Warrants are exercised, Geveran would own 325,502,500 shares in Axactor constituting 21.08% of the shares and votes in Axactor. The foregoing calculations are based on 1,544,481,019 outstanding shares in Axactor.

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