ODL - Major Shareholder Disclosure Notification and Notification of Transaction by Closely Associated Person

Odfjell Partners Ltd ("OPL") has resolved to demerge and as a consequence OPL's shareholding in Odfjell Drilling Ltd ("ODL") will be transferred to Odfjell Partners Holding Ltd ("OPHL"). The current shareholders in OPL, being Helene Odfjell and certain of her closely related persons each holds the same number of shares in OPHL as they hold in OPL today. Consequently, there will be no changes to the indirect shareholders in ODL as result of the transfer of the shares in ODL from OPL to OPHL. The creditor notice period for the demerger and subsequent liquidation of OPL lapsed today and there are no outstanding conditions for completion of the transfer of the shares from OPL to OPHL. The actual transfer of shares will take place as soon as possible after OPHL has opened a securities account with the Norwegian CSD, Euronext Securities ("VPS"). Following the transfer of the shares, OPHL will hold 142,952,381 shares in ODL, equal to 60.37 % of the shares and votes in ODL, while OPL will not hold any shares or rights to shares in ODL. Oslo Børs, in its capacity as takeover supervisory authority, has resolved to grant an exemption pursuant to the Norwegian Securities Trading Act section 6-2 (3) for the transfer of shares in ODL from OPL to OPHL. Please find details about the transfer in the attached notification forms. This information is subject of the disclosure requirements pursuant to sections 5-12 and 4-2 of the Norwegian Securities Trading Act, as well as MAR Article 19.