Northern Ocean Ltd. (the "Company") advises that the 2025 Annual General Meeting
of the Shareholders of the Company was held on 8 May 2025 at 16:00 hrs at
Hamilton Princess and Beach Club, 76 Pitts Bay Road, Hamilton HMCX, Bermuda. The
audited consolidated financial statements for the Company for the year ended 31
December 2025 were presented to the Meeting.
In addition, the following resolutions were passed:
1. To set the maximum number of Directors to be not more than eight.
2. To resolve that vacancies in the number of Directors be designated as casual
vacancies and that the Board of Directors be authorised to fill such vacancies
as and when it deems fit.
3. To re-elect Gary W. Casswell as a Director of the Company.
4. To re-elect James Ayers as a Director of the Company.
5. To re-elect Sven Børre Larsen as a Director of the Company.
6. To re-elect Mikhael Botbol as a Director of the Company.
7. To re-elect Jan Erik Klepsland as a Director of the Company.
8. To re-appoint PricewaterhouseCoopers of Oslo, Norway, as auditor and to
authorize the Directors to determine their remuneration.
9. To approve remuneration of the Company's Board of Directors of a total amount
of fees not to exceed US$400,000 for the year ended 31 December 2025.
8 May 2025
The Board of Directors
Northern Ocean Ltd.
Hamilton, Bermuda