Exercise in full of the overallotment option in connection with the initial public offering of OW Bunker

COMPANY ANNOUNCEMENT
4 April 2014
No. 13/2014

NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO
            THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA OR JAPAN

This announcement is not a prospectus but an advertisement and nothing herein
contains an offering of securities. No one should purchase or subscribe for any
securities in OW Bunker A/S ("OW Bunker" or the "Company") except on the basis
of information in the prospectus published by OW Bunker in connection with the
potential offering and admission of such securities to trading and official
listing on NASDAQ OMX Copenhagen A/S ("NASDAQ OMX Copenhagen").

  Exercise in full of the overallotment option in connection with the initial
public offering of OW Bunker. Total offering size increased to DKK 3,199 million
With reference to announcement no. 3 of 28 March 2014 regarding pricing of the
initial public offering of shares in OW Bunker (the "Offering") and the offering
circular published by OW Bunker on 18 March 2014, OW Bunker today announces that
Morgan Stanley & Co. International plc, in its capacity as Stabilisation Manager
in the Offering, has on behalf of the Managers exercised in full the
overallotment option of 2,877,794 additional shares at the offer price of DKK
145 per share from the Company's major shareholder, ultimately owned by Altor
Fund II.

As a result, the total number of shares offered in the Offering amounts to
22,063,087 shares, thereby increasing the total offering size to DKK 3,199
million.

Carnegie Investment Bank, filial af Carnegie Investment Bank AB (publ), Sverige
and Morgan Stanley & Co. International plc are acting as Joint Global
Coordinators in the Offering, Carnegie Investment Bank, filial af Carnegie
Investment Bank AB (publ), Sverige, Morgan Stanley & Co. International plc and
Nordea Markets (division of Nordea Bank Danmark A/S) are acting as Joint
Bookrunners in the Offering and ABG Sundal Collier Norge ASA, Copenhagen Branch
is acting as Co-Lead Manager in the Offering.

For further information, please contact:
Per Bech Thomsen, IR & Group Communications, tel.: +45 3137 3133

About OW Bunker
OW Bunker is a leading global independent marine fuel (bunker) company founded
in Denmark in 1980 with operations in 29 countries, including the world's
busiest and most important ports. OW Bunker acts as a physical distributor as
well as reseller of marine fuel, and operates a global fleet of around 30 bunker
vessels. OW Bunker also provides advanced risk management solutions aimed at
controlling costs, minimizing risk and protecting against market fluctuations.
Read more on www.owbunker.com

Important notice
This document and the information contained herein are not for distribution or
release, directly or indirectly, in or into the United States of America
(including its territories and possessions, any state of the United States of
America and the District of Columbia) (the "United States"), Australia, Canada
or Japan. This communication does not constitute, or form part of, an offer to
sell, or a solicitation of an offer to purchase, any securities in the United
States, Australia, Canada or Japan or in any jurisdiction in which any offer or
solicitation would be unlawful. The securities of OW Bunker A/S have not been
and will not be registered under the U.S. Securities Act of 1933 (the
"Securities Act") and may not be offered or sold within the United States absent
registration or an applicable exemption from, or in a transaction not subject
to, the registration requirements of the Securities Act.

This communication is not a prospectus for the purpose of directive 2003/71/EC
as amended (together with any applicable implementing measures in any member
State, the "Prospectus Directive"). The prospectus prepared pursuant to the
Prospectus Directive can be obtained from OW Bunker A/S' registered office and
website, with certain limitations. Investors should not purchase or otherwise
acquire any securities referred to in this communication except on the basis of
information contained in a prospectus.

In any EEA Member State, other than Denmark, that has implemented the Prospectus
Directive, this communication is only addressed to and is only directed at
qualified investors in that Member State within the meaning of the Prospectus
Directive.

This communication is only directed at (i) persons who are outside the United
Kingdom or (ii) to investment professionals falling within Article 19(5) of the
U.K. Financial Services and Markets Act 2000 (Financial Promotion) Order 2005
(the "Order") or (iii) high net worth entities falling within Article 49(2)(a)
to (d) of the Order or (iv) other persons to whom it may lawfully be
communicated (the persons described in (i) through (iv) above together being
referred to as "relevant persons"). The securities are only available to, and
any invitation, offer or agreement to purchase or otherwise acquire such
securities will be engaged in only with, relevant persons. Any person who is not
a relevant person should not act or rely on this document or any of its
contents.

Stabilisation/FCA
The Joint Global Coordinators, Joint Bookrunners and the Co-Lead Manager and
their affiliates are acting exclusively for OW Bunker A/S and the selling
shareholders and no-one else in connection with the contemplated IPO. They will
not regard any other person as their respective clients in relation to the
contemplated IPO and will not be responsible to anyone other than OW Bunker A/S
and the selling shareholders for providing the protections afforded to their
respective clients, nor for providing advice in relation to the contemplated
IPO, the contents of this communication or any transaction, arrangement or other
matter referred to herein.

In connection with the contemplated IPO, the Joint Global Coordinators, the
Joint Bookrunners and the Co-Lead Manager and any of their affiliates, acting as
investors for their own accounts, may purchase shares and in that capacity may
retain, purchase, sell, offer to sell or otherwise deal for their own accounts
in such shares and other securities of OW Bunker A/S or related investments in
connection with the contemplated IPO or otherwise. Accordingly, references in
the prospectus to the shares being offered, acquired, placed or otherwise dealt
in should be read as including any offer to, acquisition, placing or dealing by,
such Joint Global Coordinators, the Joint Bookrunners and the Co-Lead Manager
and any of their affiliates acting as investors for their own accounts. The
Joint Global Coordinators, the Joint Bookrunners and the Co-Lead Manager do not
intend to disclose the extent of any such investment or transactions otherwise
than in accordance with any legal or regulatory obligations to do so.

Matters discussed in this communication may constitute forward-looking
statements. Forward-looking statements are statements (other than statements of
historical fact) relating to future events and anticipated or planned financial
and operational performance and can be identified by words such as "targets",
"believes", "expects", "aims", "intends", "plans", "seeks", "will", "may",
"might", "anticipates", "would", "could", "should", "continues", "estimate" or
similar expressions. The forward-looking statements in this communication are
based upon various assumptions, many of which are based, in turn, upon further
assumptions. Although OW Bunker A/S believes that these assumptions were
reasonable when made, these assumptions are inherently subject to significant
known and unknown risks, uncertainties, contingencies and other important
factors which are difficult or impossible to predict and are beyond its control.
Such risks, uncertainties, contingencies and other important factors could cause
actual events to differ materially from the expectations expressed or implied in
this communication by such forward-looking statements.

The information, opinions and forward-looking statements contained in this
announcement speak only as at its date, and are subject to change without
notice.



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