AMENDMENT AND RESTATEMENT AGREEMENT to the AGREEMENT ON SECURITIES FINANCING FOR NON-RETAIL CUSTOMERS

This agreement (“Amendment Agreement”) is entered into as of 07.09.2021 between

Ludvig Lorentzen AS (the “Borrower”),

company registration number 997 345 495,

DNB Bank ASA (the “Bank”)

org no. 984 851 006 and

Sobral AS

(the “Additional Collateral Provider”) company registration number 990 611 238

WHEREAS the Borrower and the Bank (individually each a “Original Party” and together the “Original Parties”) have previously entered into the “Agreement On Securities Financing For Non-Retail Customers”, with the latest amended as of 21.04.2021 (the “Agreement”);

AND WHEREAS the Original Parties desire to amend and restate the Agreement to include the Additional Collateral Provider as a collateral provider (individually each a “Party” and together the “Parties”);

NOW THEREFORE this Amendment Agreement witnesses that in consideration of the foregoing and other good and valuable consideration (the receipt and sufficiency of which are hereby irrevocably acknowledged) the Parties agree as follows:

2.                    Each Party represents to the other Parties that all representations contained in the Finance Documents are true and accurate as of the date of this Amendment Agreement and that such representations are deemed to be given or repeated by each party, as the case may be, on the date of this Amendment Agreement, and with respect to the Agreement as amended hereby.

3.                    All other provisions of the Finance Documents remain in full force and effect, unamended. Hereby, each of the Original Parties confirms and acknowledges that, its obligations under the Finance Documents will continue in full force and effect notwithstanding the execution of this Amendment Agreement and that any Collateral created or given by it under any Finance Document (including any Collateral Documents) will extend to the liabilities and obligations under the Finance Documents as amended by this Amendment Agreement.

4.                    This Amendment Agreement constitutes the entire agreement and understanding of the parties with respect to its subject matter and supersedes all oral communications and prior writings (except as otherwise provided herein) with respect thereto.

5.                    For the purpose of this Amendment Agreement, capitalized terms used and not defined herein shall have the respective meanings ascribed to them in the Agreement. This Amendment Agreement may be executed and delivered in counterparts, each of which will be deemed an original.

IN WITNESS WHEREOF the parties have executed this Amendment Agreement as of the date first written above.

For Ludvig Lorentzen AS For DNB Bank ASA

...… …./s/ .P...e...d..e...r...L..u...d...v..i.g.. Lorentzen................................................

 Block letters…..P...e...d..e...r...L..u...d...v..i.g.. Lorentzen

...… …./s/ .. Kristoffer Eikrem.

Block letters… Kristoffer Eikrem,

Vice President…....

For Sobral AS

…./s/ .P...e...d..e...r...L..u...d...v..i.g.. Lorentzen ….........................................................

Peder Ludvig Lorentzen

...........................

Annex A

AGREEMENT ON SECURITIES FINANCING FOR NON-RETAIL CUSTOMERS

between Ludvig Lorentzen AS

(the “Borrower”),

company registration number 997 345 495

DNB Bank ASA (the “Bank”)

org no. 984 851 006 and

Sobral AS

(the “Additional Collateral Provider”) company registration number 990 611 238

(individually each a “Party” and together the “Parties”) Dated 07.09.2021

IT IS AGREED as follows:

In this Agreement:

Agreement means this agreement;

Alternative

Availability Period means the period from the signing of this Agreement up to receipt or issue by the Bank of a Termination Notice;

Borrower's

Credit Balance means the total aggregate amount (for all Loans) actually drawn and outstanding under the Facility;

Break Cost means the Margin which would have accrued from the date of prepayment of a Loan until the Loan Maturity Date had the Loan not been prepaid, together with other documented costs and expenses;

Business Day means any day on which banks in Norway and Sweden and the Oslo Stock Exchange and the Stockholm Stock Exchange are open However, for the purpose of determining Market Value of Collateral, the term shall mean any day other than a Saturday or a Sunday on which banks and securities markets are open for business in such place where the financial instruments have their main listing;

Close of Business means the time at which the relevant banks, securities settlement systems or depositaries close in the business centre in which payment is to be made or where Collateral to be delivered have their main listing;

Collateral

Commencement

Fee means NOK 0;

Commission means NOK 0 pr month;

Cross Default

Amount means NOK 0;

Event of Default means an event specified as such in Clause 14 (Events of Default);

Facility shall have the meaning ascribed to such term in clause 2 (The facility);

Finance Documents means this Agreement, the Utilisation Agreements, the Collateral Documents and any other document designated as a Finance Document by the Bank and the Borrower;

Financial

Indebtedness means any indebtedness for or in respect of:

Fixed Term

Reference Rate means the Fixed Term Reference Rate listed in Schedule 2 as determined by the Bank at the date of determining the Interest Period for the offering of deposits in the Loan Currency for a period comparable to the Interest Period for that Loan;

Interest Periods means the interest periods determined pursuant to clause 7.3;

Loan shall have the meaning ascribed to such term in clause 3 (Utilisation);

Loan Currency means Loan Currencies listed in Schedule 2;

Loan Maturity Date means the later of the Termination Date and the maturity date agreed pursuant to the relevant Utilisation Agreement (provided a maturity date is agreed);

Loan to Value Percentage shall have the meaning ascribed to such term in clause 13.2 (iii) (Borrower’s Credit Balance/Loan Value of Collateral);

Loan Value shall have the meaning ascribed to such term in clause 13.2 (iii) (Borrower’s Credit Balance/Loan Value of Collateral);

Margin means 180 bps

Market Value means the traded price at Close of Business on the previous Business Day. The Bank may nevertheless in its own discretion, if there is in the Bank’s opinion uncertainty related to price setting, e.g. as a result of limited traded volumes or as a result of deviation in price quotations in a secondary market place, determine the Market Value;

Non Fixed Term

Reference Rate means Non Fixed Term Reference Rates listed in Schedule 2;

Record Date means, with respect to any Collateral, the date by reference to which holders of such Collateral are identified as being entitled to payment of Income;

Termination Date means:

Termination Notice shall have the meaning ascribed to such term in clause 6 (Termination);

Utilisation

Agreement shall have the meaning ascribed to such term in clause 3 (Utilisation); and

VPS means the Norwegian central securities depository, Verdipapirsentralen ASA.

Subject to the terms of this Agreement the Bank may, upon request from the Borrower, make available to the Borrower Loans in the aggregate amount of MNOK 300 for the financing of the Borrowers acquisition or carrying of financial instruments (the “Facility”).

The Bank is not committed to provide any Loans under the Facility and any utilisation of the Facility is subject to the Bank’s acceptance.

During the Availability Period the Facility shall be available for utilisation in any number of drawings (each a “Loan”), in a minimum amount the Minimum Draw for each Loan, subject to a separate agreement between the Borrower and the Bank for the provision of each Loan (a “Utilisation Agreement”).

A Loan may be made in other currencies than NOK, subject to such terms as set out in Schedule 2, or on such conditions as the Bank may determine.

An Utilisation Agreement may be made in writing or on a recorded telephone line, the Utilisation Agreement is deemed to be executed when accepted by the Bank, either in writing or on a recorded telephone line. In the event of conflict between the terms of an Utilisation Agreement and the terms of this Agreement, the terms of the Utilisation Agreement shall prevail.

The disbursement of a Loan shall be subject to clause 4 (Conditions Precedent) and 4.1 (Other Conditions Precedent.

The Bank’s performance under this Agreement shall be conditional upon the following conditions precedent being delivered by the Borrower and the Additional Collateral Provider in a form and substance reasonably satisfactory to the Bank:

Furthermore, the Bank’s performance under this Agreement shall be conditional upon the following conditions precedent:

A Loan, including any outstanding interest and costs related thereto, shall be repaid on the earlier of (i) the Termination Date and (ii) the Loan Maturity Date.

A Loan may be prepaid at any time. Any prepayment of a Loan prior to the relevant Loan Maturity Date is subject to the Borrower paying Break Costs.

Any prepayment or repayment of a Loan shall be made together with all accrued interest, costs and fees relating to that Loan.

Each Party may terminate this Agreement by written notice to the other Party (“Termination Notice”), provided that the terms of this Agreement shall continue to apply to any Loan that is not repaid upon termination of the Agreement.

Except as otherwise provided in this Agreement, the rate of interest on each Loan, with a maturity date agreed pursuant to the Utilisation Agreement, for an Interest Period shall be the rate per annum determined by the Bank to be the aggregate of the Margin and the Fixed Term Reference Rate (including any Additional Funding Cost listed in Schedule 2).

Except as otherwise provided in this Agreement, the rate of interest on each Loan, without a maturity date agreed pursuant to the Utilisation Agreement, for an Interest Period shall be the rate per annum determined by the Bank to be the aggregate of the Margin and the Non Fixed Term Reference Rate (including any Additional Funding Cost listed in Schedule 2.

Except as otherwise provided in this Agreement, accrued interest on each Loan shall be payable by the Borrower on the first Business Day after the end of every calendar month after the date of disbursement of that Loan.

For Loans with a maturity date agreed pursuant to an Utilisation Agreement the Interest Periods shall be determined in the Utilisation Agreement.

For Loans without a maturity date agreed pursuant to the Utilisation Agreement the Interest Periods shall be overnight.

Each Interest Period shall commence on the date of disbursement of a Loan and each subsequent Interest Period shall commence on the expiry of the preceding Interest Period.

If an Interest Period would otherwise overrun a Loan Maturity Date, that Interest Period shall be shortened to end on the relevant Loan Maturity Date.

If the Borrower fails to pay an amount due in relation to this Agreement on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment at a rate which is 600 basis points higher than the interest rate that would otherwise be applicable (including Margin) in relation to the overdue amount had it during the period of non-payment, constituted a Loan for successive Interest Periods, each of a duration selected by the Bank.

Any interest accruing under this clause shall be immediately payable upon the Bank’s demand.

The Borrower shall, within three (3) Business Days of demand by the Bank, pay any incurred Break Costs attributable to all or part of a Loan being paid or becoming payable by the Borrower on a day other than the Loan Maturity Date of that Loan.

If a Market Disruption Event occurs in relation to a Loan for any Interest Period, then the rate of interest on that Loan for the Interest Period shall be the rate per annum which is the sum of:

In this Agreement "Market Disruption Event" means:

The Borrower shall pay to the Bank a fee equal to the value of the Commencement Fee. The Commencement Fee shall be payable upon the date of this Agreement.

The Borrower shall pay the Commission to the Bank on the first Business Day after the end of every calendar month after the date of this Agreement.

Any payments made by the Borrower in relation to the Finance Documents shall be made without any tax deductions unless required by law. If tax deductions are required by law, the Borrower shall make such deductions and payments within the time allowed by law. If such tax deductions are required by law, all amounts payable by the Borrower shall be increased so that the remaining amount, after deduction of tax, equals the amount payable to the Bank if no tax deduction was required.

If the Borrower is making tax deductions or payment, the Borrower shall, within 30 days, deliver evidence satisfactory to the Bank showing that such deductions or payments have been correctly made.

The Borrower shall promptly upon demand indemnify the Bank for any loss, cost, expenses or liability the Bank determines that it has suffered (directly or indirectly) on account of any tax imposed in relation to the Finance Documents, other than general corporate tax on net profits.

The Borrower shall promptly upon demand indemnify the Bank for any loss, cost, expenses or liability the Bank incurs on account of any stamp duty or similar tax payable in relation to the Finance Documents.

All consideration expressed to be payable to the Bank under a Finance Document shall be deemed to be exclusive of any value added tax (“VAT”). Any VAT levied on any such consideration shall be paid by the Borrower.

Where a Finance Document requires the Borrower to reimburse the Bank for any costs or expenses, the Borrower shall also at the same time pay and indemnify the Bank against all VAT incurred by the Bank in respect of the costs or expenses.

If any sum due from the Borrower under the Finance Documents (a "Sum"), or any order, judgment or award given or made in relation to a Sum, has to be converted from the currency (the "First Currency") in which that Sum is payable into another currency (the "Second Currency") for the purpose of:

The Borrower shall as an independent obligation, promptly on demand, indemnify the Bank against any cost, loss or liability arising out of or as a result of the conversion including any discrepancy between (A) the rate of exchange used to convert that Sum from the First Currency into the Second Currency and (B) the rate or rates of exchange available to that person at the time of its receipt of that Sum.

The Borrower waives any right it may have in any jurisdiction to pay any amount under the Finance Documents in a currency or currency unit other than that in which it is expressed to be payable.

The Borrower shall, promptly following written demand, indemnify the Bank against any cost, loss or liability (including, in relation to (i) and (ii) below, Break Cost) incurred as a result of:

Neither the Bank nor any of its employees or associated persons or entities (the “Exonerated Parties”) shall be liable for any loss, cost, expense or similar incurred by the Borrower or any other Party as a result of the actions or omissions of the Exonerated Parties in relation to the Finance Documents, save for any acts of gross negligence or wilful misconduct.

The Borrower shall promptly following written demand pay to the Bank the amount of all external costs and expenses (including external legal and collateral fees) reasonably incurred by the Bank in connection with:

Following an Event of Default, the Borrower shall promptly following demand pay to the Bank the amount of all costs and expenses (including internal and external legal fees) properly incurred by it in connection with the enforcement of, or the preservation of any rights under, any of the Finance Documents.

The Borrower’s debt, obligations and liabilities under the Finance Documents shall be secured by the Collateral.

The Collateral shall be documented to the satisfaction of the Bank.

The Bank, the Borrower and the Additional Collateral Provider agree that cash and financial instruments shall be pledged in favour of the Bank in accordance with the Share Pledge Agreements as security for the Borrower’s debt, obligations and liabilities under the Finance documents and thus shall qualify as Collateral.

For Norwegian financial instruments only, the Bank, the Borrower and the Additional Collateral Provider agree that financial instruments may be pledged in favour of the Bank as security for the Borrower’s debt, obligations and liabilities under the Finance documents and thus shall qualify as Collateral. If the financial instruments are registered in VPS, the Bank shall be account manager for the VPS account in which the financial instruments are registered, and such account shall be pledged in full and with first priority in favour of the Bank.

Collateral in the form of fund units registered in a unit holder register of a fund management company may, subject to the Bank accepting such Collateral and subject to the fund management company accepting such pledge, be pledged by notification to the fund management company.

The Bank and the Borrower may agree that financial instruments may be transferred to the Bank as security for the Borrower’s debt, obligations and liabilities under the Finance documents and thus shall qualify as Collateral. The Collateral shall be delivered with full title, free of other liens, charges or encumbrances, current and future.

Financial instruments registered with a central securities depositary

Delivery and transfer of title to Collateral or equivalent Collateral which is registered with a central securities depositary (e.g. VPS) shall take place in accordance with the rules and procedures of the central securities depositary as in force from time to time.

Financial instruments, deposited with a custodian

Delivery and transfer of title to Collateral or equivalent Collateral which are registered on the custody accounts of the Bank shall take place subject to registration of such transfer in the Bank’s custody account system. Delivery and transfer of title to the Bank when Collateral is to be registered in the Bank’s custody account system shall take place simultaneously as the Collateral is registered with the Bank’s custody accounts abroad that the Bank uses for holding of financial instruments in the relevant jurisdictions or in any other way deemed acceptable to the Bank to ensure transfer for title to the Bank.

Securities fund units not registered with a central securities depositary

Delivery and transfer of title to Collateral or equivalent Collateral which are registered in a unit holder register of a fund management company shall, subject to the Bank accepting such Collateral and subject to the fund management company accepting transfer of units, take place subject to registration of such transfer in the management company’s account system. or in any other way deemed acceptable to the Bank to ensure transfer for title to the Bank.

The Bank shall have the right to use and dispose of the Collateral, cf. the Norwegian Financial Collateral Act

§ 4. In such cases the Bank has the right to lend out, pledge, sell or otherwise dispose of the Collateral cf. the Norwegian Financial Collateral Act § 4 (1).

Subject always to the Borrower being in compliance with clause 13.2 (i) (Borrower’s Credit Balance/Loan Value of Collateral), no Event of Default having occurred or potentially occurring as a result of the substitution of Collateral and subject to documentation satisfactory to the Bank, the Borrower may at any time request the replacement of any Collateral with Alternative Collateral acceptable to the Bank. Any Collateral to be released pursuant to this clause shall only be released after delivery and perfection of the Alternative Collateral to the Bank’s satisfaction.

In this clause 11.6, references to an amount of Income received by the Bank in respect of any non-cash Collateral shall be to an amount received from the issuer after any applicable withholding or deduction for or on account of any tax.

To the extent the Bank receives any Income from of any non-cash Collateral delivered by the Borrower, the Bank shall, on the date such Income is paid to the Bank, pay or deliver to the Borrower a sum of money or property equivalent to the type and amount of such Income that would have been received by the Borrower (net of any taxes, costs or other deductions of any nature) had the non-cash Collateral not been delivered to the Bank at the time of the Record Date. Any payments or delivery hereunder is subject to no Event of Default or potential Event of Default having occurred and the Borrower being in compliance with clause 13.2

Where Income, in the form of securities, is paid in relation to any Collateral, such securities shall be added to such Collateral (and shall constitute Collateral) and will not be delivered to Borrower unless in accordance with the provisions of this Agreement.

Where any voting rights or other rights fall to be exercised in relation to any Collateral, the Bank shall have no obligation whatsoever to arrange for voting rights or other rights, of that kind to be exercised or exercised in accordance with the instructions of the Borrower.

If at Close of Business on any Business Day the Loan Value of the Collateral in respect of all Loans exceeds the Borrower's Credit Balance the Bank shall (on demand) within reasonable time deliver to Borrower such Collateral or equivalent Collateral as will eliminate the excess.

As acquirer of right, title and interest to Collateral, the Bank is under no obligation to return the same Collateral to the Borrower, but may at its discretion return equivalent Collateral.

Equivalent or equivalent to in relation to any Collateral provided under this Agreement means financial instruments or other property, of an identical type, nominal value, description and amount to particular Collateral so provided. If and to the extent that such Collateral consists of financial instruments that are

partly paid or have been converted, subdivided, consolidated, made the subject of a merger etc., the expression shall include such financial instruments.

Upon the occurrence of an Event of Default which is continuing, the Bank shall be entitled, in its absolute discretion, to enforce all or any part of the Collateral in any way permitted by law, including to;

Upon the occurrence of an Event of Default which is then continuing, the Bank shall be entitled to terminate all Loans and other outstanding transactions under the Finance Documents and determine reasonable market values of all terminated transactions and other claims under the Finance Documents. The Bank may base its valuations on the prevailing market prices, quotes, indices, other information in the market and/or its actual costs or loss. The aggregate sum of such values, the value of any collateral and any other unpaid amounts under the Finance Documents are calculated to one net amount in the Loan Currency (at the Bank’s prevailing currency exchange rates) which one party owes the other (cf. the Norwegian Financial Collateral Act § 6). The party will pay such net amount to the other party within [one] business day.

However, to the extent the proceeds exceed the amounts owed by the Borrower under or in relation to the Finance Documents, such net amount shall be paid to the Borrower only after final and conclusive satisfaction of all amounts owed by the Borrower under or in relation to the Finance Documents. To the extent the collateral is transferred to the Bank the proceeds shall be determined as the market value of the Collateral as reasonably determined by the Bank in accordance with the above provision, such determination to be binding on the parties.

Without prejudice to any other rights which it may have, the Bank may at any time after the occurrence of an Event of Default which is continuing, at its discretion and without prior notice, unless prohibited by law;

If an obligation is unascertained at the time of the set-off, the Bank may in good faith estimate the value of any obligation for the purpose of the set-off, subject to accounting to the Borrower when the obligation is later ascertained.

Nothing in this paragraph shall be effective to create a charge or other security interest.

The right to set-off under this clause shall be without prejudice and in shall be in addition to any right to set- off to which the Bank is entitled by law.

The Borrower and the Additional Collateral Provider shall notify the Bank of any Default which occurs (and the steps, if any, being taken to remedy it) promptly upon its occurrence.

If changes are made to what financial instruments that are allocated Loan to Value Percentage, or if a Loan to Value Percentage is adjusted, the Bank may, alternatively upon request the Bank will, prepare and distribute an update of Schedule 1, listing acceptable Collateral and each respective Financial instrument’s Loan to Value Percentage, and listing the effective time or alternatively date for adjustments.

The Borrower and the Additional Collateral Provider shall supply to the Bank:

Each of the events set out in this clause 14.2 to 14.10 is an Event of Default (whether or not caused by any reason whatsoever outside the control of the Borrower, the Additional Collateral Provider or any other person).

The Borrower does not pay on the due date an amount payable by it under any Finance Document at the place and in the currency in which it is expressed to be payable, provided that if, such failure to pay has arisen as a consequence of an administrative or technical error or disruption only, then such event shall not be an Event of Default unless such failure continues for a period in excess of three (3) Business Days.

The Borrower does not comply with any provision of a Finance Document (other than those referred to in clauses 13.2 (i) (Borrower’s Credit Balance/Loan Value of Collateral) and 15.2 (Non-payment), provided that if such non-compliance is, in the opinion of the Bank, capable of remedy:

Any information provided on any material matter in connection with any Finance Document or in any document delivered by or on behalf of the Borrower or the Additional Collateral Provider under or in connection with a Finance Document is or proves to have been incorrect or misleading in any material respect when made.

The Borrower or the Additional Collateral Provider suspends payments, admits inability or intention not to pay its debts as they are due, starts debt negotiations with its creditors, any step is taken with the view of winding up of the Borrower or the Additional Collateral Provider, the Borrower or the Additional Collateral Provider becomes insolvent, becomes subject to bankruptcy proceedings, is put into bankruptcy, a significant part of the Borrower’s or the or the Additional Collateral Provider’s assets are subject to arrest or distraint, or other matters occur which in the Bank’s opinion may have the same effect for the Borrower or the Additional Collateral Provider as the afore mentioned.

The Borrower ceases or threatens to cease to carry on its business or materially changes its business, whether by one or a series of transactions, without the prior written consent of the Bank.

Failure to comply with clause 13.2 (ii) (Borrower’s Credit Balance/Loan Value of Collateral).

It is or becomes impossible or unlawful for the Bank to perform any of its obligations under the Finance Documents.

Any Finance Document does not at any time constitute legal, valid, binding and enforceable obligations in all respects of the Borrower, and, if in the reasonable opinion of the Bank capable of remedy, is not remedied to the satisfaction of the Bank within five (5) Business Days after the Borrower became or should have become aware of such event, or is alleged by the Borrower or the Additional Collateral Provider not to constitute its legal, valid, binding and enforceable obligations in any respect for any reason.

A Collateral Document does not at any time create the security it purports to create and the Borrower or the Additional Collateral Provider does not within five (5) Business Days after it became or should have become aware of such event execute or procure the execution of such documentation as required by the Bank in order to remedy such defect, or if not, in the opinion of the Bank, remediable, the Borrower or the Additional Collateral Provider does not within five (5) Business Days after receipt of a draft of security documentation procure that additional valid and duly perfected security of equal value to the security constituted by the relevant Collateral Document is put in place.

The Borrower or the Additional Collateral Provider repudiates a Finance Document or evidences an intention to repudiate a Finance Document.

Any event or series of events occur which in the opinion of the Bank is reasonably likely to have a material adverse effect on:

On and at any time after the occurrence of an Event of Default which is continuing, the Bank may by notice to the Borrower and the Additional Collateral Provider:

Written notices in connection with the Agreement are to be sent respectively to:

Contact data Ludvig Lorentzen AS:

Dronningen 1, 0287 OSLO Norge

Att: Ole Peter L Lorentzen

E-mail: opl@ludviglorentzen.no Contact data Sobral AS:

C/O Ludvig Lorentzen AS, Dronningen 1, 0287 OSLO Norge

Telephone: 92666970 Contact data DNB Bank:

DNB Bank ASA Securities Finance

Dronning Eufemias gate 30, 0191 OSLO, NORWAY E-mail: prime.finance@dnb.no

Telephone: +47 2416 6990

Changes in address or other contact information are to be notified to the other Party in writing without undue delay.

This Agreement shall be governed by the Laws of Norway.

The courts of Norway have exclusive jurisdiction to settle any dispute arising out of or in connection with this Agreement (including a dispute regarding the existence, validity or termination of this Agreement), and any dispute shall be referred to Oslo district court (Oslo tingrett) as the court of first instance.

This clause 16.2 is for the benefit of the Bank only. The Bank shall not be prevented from taking proceedings relating to a dispute in any other courts with jurisdiction. To the extent allowed by law, the Bank may take concurrent proceedings in any number of jurisdictions.

The Agreement is issued in two - 2 - copies, one to be retained by each of the Parties.

Place…O…sl…o……………, Date:……07…/0…9…/2…1….

Oslo 07.09.2021

Place…………………, Date:……………………

For Ludvig Lorentzen AS For DNB Bank ASA

….../s/ P.e..d...e...r...L..u...d...v..i.g L.. orentzen ….....
Block letters…P.e..d...e...r...L..u...d...v..i.g L.. orentzen

./s/ .. Kristoffer Eikrem.

Block letters… Kristoffer Eikrem,

Vice President…........

…......................................................... ….........................................................

Block letters…............................. Block letters................................

For Sobral AS

…./s/ .P...e...d..e...r...L..u...d...v..i.g.. Lorentzen ….........................................................

Block letters .P...e...d..e...r...L..u...d...v..i.g.. Lorentzen

…......................................................... Block letters….............................

SCHEDULE I

to the Agreement on Securities Financing for Non-Retail Customers between DNB Bank ASA and the Borrower

Financial instruments accepted as collateral (subject to individual Loan to Value Percentage):

SCHEDULE II

to the Agreement on Securities Financing for Non-Retail Customers between DNB Bank ASA and the Borrower

Loan Currencies and Reference Rates*

* All Reference Rates are subject to a zero per cent interest rate floor and calculated Actual/360.

** The Bank has the right, based on its own assessment of market conditions and other circumstances it considers relevant, at any time, including during the term of a Loan, to change Additional Funding Cost for each Loan Currency with immediate effect.