NOT FOR DISTRIBUTION IN THE UNITED STATES EXCEPT PURSUANT TO APPLICABLE
EXEMPTIONS FROM THE REGISTRATION REQUIREMENTS OF THE U.S. SECURITIES ACT

Potential buy-back of up to NOK 350 million of the nominal outstanding amount of
FJORD01

Fjord1 HoldCo AS (the "Issuer Parent"), the parent of Fjord1 AS, is
contemplating a potential buy-back of up to NOK 350 million of the nominal
outstanding amount of FJORD01 with ISIN NO0010810302 maturing on 22 November
2022 (the "Bonds"). Fearnley Securities is acting as manager for the potential
buy-back (the "Manager").  
The potential buy-back will be conducted as a "reverse Dutch auction", where the
Issuer Parent, through the Manager, will receive offers for the desired volume
of Bonds at the desired sale price from the bondholders on a confidential basis.


Eligible bondholders are hereby invited to provide offers for sale of all or a
portion of their Bonds through submission of the attached bondholders offer form
(the "Bondholders Offer Form"). 

Due date for submission is 13:00 CET on 14 December 2021. Prior to 09:00 CET on
15 December 2021, the Issuer Parent will decide upon the buy-back price (the
"Buy-Back Price") and consequently the total amount of Bonds to be repurchased
(if any). Eligible bondholders with offers equalling the Buy-Back Price or lower
will receive the Buy-Back Price multiplied with the number of Bonds offered, but
the Issuer Parent may in its sole discretion reduce the number of Bonds to be
acquired on a pro rata basis for Bonds offered at the Buy-Back Price for each
offering bondholder. Cash settlement, including accrued interest, is expected to
occur on 17 December 2021. The Issuer Parent may, in its sole discretion, waive,
extend, accelerate, terminate, withdraw or increase the size of the potential
buy-back at any time. 

The Issuer Parent will only accept offers from bondholders or beneficial owners
(or any person acting as agent, custodian, fiduciary or in another intermediary
capacity for a bondholder or beneficial owner) who is not a U.S. person (as such
term is defined pursuant to Regulation S under the US Securities Act of 1933, as
amended) and who is outside the United States. Other offer and distribution
restrictions apply, as further set out in the Bondholders Offer Form.

All submissions of Bondholders Offer Form are to be sent by e-mail to Fearnley
Securities through respective sales contacts or directly to
fjord1.tender@fearnleys.com no later than 13:00 CET 14 December 2021.

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