OCEAN YIELD ASA SUBSCRIBES FOR SHARES IN FARSTAD SHIPPING ASA

Reference is made to the releases by Farstad Shipping ASA ("Farstad") dated 6 February 2017 and its subsequent releases regarding the financial restructuring of Farstad.

Reference is made to the approval by Farstad's extraordinary general meeting on 3 March 2017 (the "Extraordinary General Meeting") of the issue of 315,595,760 new shares for set-off against the nominal amount of certain debts in the aggregate amount of NOK 160,858,516 owed to F-Shiplease AS ("F-Shiplease") pursuant to the restructuring agreement, of which 56,000,000 shares will be paid by set off against a nominal amount of NOK 70,000,000 of the debt (corresponding to NOK 1.25 per share) and the balance of 259,595,760 shares will be paid by set off against debt with a net present value of NOK 90,858,516 (corresponding to NOK 0.35 per share).

Ocean Yield ASA ("Ocean Yield") has today acquired from its 100% owned subsidiary F-Shiplease the said debts and the related right and obligation to subscribe for the new shares for an aggregate purchase price of NOK 110,458,516 (corresponding to NOK 0.35 per share).

At the same time, Ocean Yield has subscribed for the 315,595,760 shares on the terms of the restructuring agreement as set forth above.

Completion and delivery of shares is conditional on the simultaneous registration of all share capital increases resolved by the Extraordinary General Meeting in the Norwegian Register of Business Enterprises.

If and when delivery of the shares subscribed by Ocean Yield is completed (and prior to completion of the repair issue announced by Farstad on 13 February 2017), Ocean Yield will after completion of the Farstad restructuring hold 315,595,760 shares as announced, which will represent 6.69% of the shares and votes of the total 4,720,683,537 shares issued after the completion of the Farstad restructuring.

Ocean Yield is a subsidiary of Aker ASA, the parent company of Aker Capital AS ("Aker"). As previously announced by Farstad and Aker, Aker will hold 571,428,571 shares after the completion of the restructuring. This represents a consolidated holding of shares and votes of Farstad of Aker and Ocean Yield of 18.79%.

This notification is made pursuant to Section 4-2 and 4-3 of the Norwegian Securities Trading Act. Mr. Audun Stensvold, investment director of Aker ASA, is a board member of Farstad.

Oslo, 9 March 2017

Ocean Yield ASA