Company Announcement 6/2019

Nordic Shipholding A/S

Resolutions passed at the Annual General Meeting on 25 April 2019

25 April 2019

NORDIC SHIPHOLDING A/S

Company announcement no. 6/2019

Today, Thursday 25 April 2019, Nordic Shipholding A/S held its Annual General Meeting with the agenda published in the notice convening the meeting dated 28 March 2019 where the following agenda items were presented:

• The Board of Directors’ report for the financial year 2018 was noted.
• The Annual Report for 2018 was approved.
• Discharge of liability was granted to members of the Board of Directors and the Executive Management.
• The Board of Directors’ proposal for distribution of the result of the year was approved.
• Remuneration of the Board of Directors for 2019 was approved.
• In accordance with the proposal by the Board of Directors, Knud Pontoppidan, Jon Lewis, Kanak Kapur, Esben Poulsson, Jens V. Mathiasen and Philip Clausius were re-elected as members of the Board of Directors.
• PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab was re-appointed as the company’s auditor.

The following proposals to extend the existing authorisations to the Board of Directors to 25 April 2024 were adopted by the general meeting:

• Authorisation to increase the company's share capital by up to a total nominal amount of DKK 40,650,000 with pre-emptive subscription rights for the company's existing shareholders.
• Authorisation to increase the company's share capital by up to a total nominal amount of DKK 20,325,000 without pre-emptive subscription rights for the company's existing shareholders.
• The aggregate nominal value of any shares issued pursuant to the authorisations to increase the share capital shall not exceed DKK 40,650,000.
• Authorisation to raise loans for a total loan amount of DKK 500,000,000 with pre-emptive subscription rights for the company’s existing shareholders against the issuance of convertible debt instruments.
• Authorisation to raise loans for a total loan amount of DKK 250,000,000 without pre-emptive subscription rights for the company’s existing shareholders against the issuance of convertible debt instruments.
• The aggregate principal amount of any convertible debt instruments issued pursuant to the authorisations to raise loans shall not exceed DKK 500,000,000.
• Authorisation to issue warrants to subscribe for shares having a total nominal value of DKK 40,650,000 with pre-emptive subscription rights for the company’s existing shareholders.
• Authorisation to issue warrants to subscribe for shares having a total nominal value of DKK 20,325,000 without pre-emptive subscription rights for the company’s existing shareholders.
• The aggregate nominal value of any new shares issued upon exercise of warrants issued pursuant to the authorisations to issue warrants shall not exceed DKK 40,650,000.

At a subsequent board meeting, the Board of Directors appointed Knud Pontoppidan as chairman and Jon Lewis as deputy chairman.

For further information, please find attached the notice to convene and the complete proposals.

Kind regards,

Nordic Shipholding A/S

Copenhagen, 25 April 2019

For further information, please contact:

Knud Pontoppidan, Chairman of the Board of Directors, Nordic Shipholding A/S: +45 3929 1000.