Commercial update - NORDEN sells vessels and continues to buy back shares

In line with our intention to realise asset values, we have sold five vessels since the release of our 2024 Annual Report on 6 February 2025. Three of them were declared purchase options and comprised of two Kamsarmaxes and one Ultramax vessel. In addition to the declared purchase options, we have also sold one MR tanker vessel from the active owned fleet, as well as one Ultramax new-building which is scheduled to deliver at the end of 2025. The Ultramax new-building will be leased back on time-charter with extension and purchase options.

Following these transactions, NORDEN’s asset portfolio will consist of 20 owned vessels and 79 long-term leases with purchase options, 39 of which can be declared before the end of 2025.

Furthermore, NORDEN continues to execute on the announced share buy-back program and 436,000 shares have been acquired at an average price of DKK 190 per share from the initiation in early February up until 14 March 2025.