Belships ASA : Correction - disclosure of large shareholding

Oslo, 11 December 2018

This is a correction of the stock exchange notice of 10 December 2018 at 21:53 (CET) (the "Notice").

On 7 October 2018, Belships ASA (the "Company") notified the market that Nepa Shipholding B.V. ("Nepa") would receive 13,330,834 shares in the Company shares upon completion of the merger with the Lighthouse group, corresponding to 7.61 % of the shares. This was a consequence of Nepa's holding of shares in LHS Holdco AS, one of the companies in the Lighthouse group to be merged with Belships.

On 3 December 2018, Nepa reduced its holding of shares in LHS Holdco AS to the effect that Nepa will receive only 159,027 shares (0.09%) in the Company upon completion of the merger.