BlueMountain Capital Trims Stake in Overseas Shipholding Group Inc (OSG)

Page 8 of 9 SEC Filing

CUSIP No. 69036R 103

David Rubenstein Managing Partner, General Counsel and Secretary of the Investment Manager; Managing Partner, General Counsel and Secretary of GP Holdings
Peter Greatrex Managing Partner and Head of Private Investments of the Investment Manager; Managing Partner and Head of Private Investments of GP Holdings
Paul Friedman Chief Financial Officer and Chief Administrative Officer of the Investment Manager; Chief Financial Officer and Chief Administrative Officer of GP Holdings
Elizabeth Gile Manager of the General Partner
Gary Linford Manager of the General Partner
Mark Shapiro Manager of the General Partner

The business address of Nautical, Guadalupe, the General Partner, Investment Manager, GP Holdings, Mr. Feldstein, Mr. Siderow,
Mr. Smith, Mr. Gerstein, Mr. Markus, Mr. Liberman, Mr. Rubenstein, Mr. Greatrex, Mr. Friedman, Ms. Gile and Mr. Shapiro is 280 Park Avenue, 12th Floor, New York, New York 10017.

The business address of Mr. Linford is c/o HighWater, Pavilion Commercial Centre, 1st Floor, 802 West Bay Road, P.O. Box 30599, KY1-1203, Grand Cayman, Cayman
Islands.

(f) Mr. Feldstein, Mr. Siderow, Mr. Smith, Mr. Gerstein, Mr. Markus, Mr. Liberman, Mr. Rubenstein, Mr. Greatrex, Mr. Friedman, Ms. Gile and Mr.
Shapiro are U.S. citizens. Mr. Linford is a South African citizen.

Item 5. Interest in Securities of the Issuer.

Paragraphs (a), (b) and (c) of Item 5 of the Schedule 13D are hereby deleted and replaced with the following:

(a-b) All percentages set forth in this Schedule 13D are based on the 364,860,858 shares of Class A Common Stock of the Issuer outstanding as of February 24,
2016, as reported on the Issuers Form 10-K filed with the Securities and Exchange Commission on March 1, 2016. The information set forth in Rows 7-13 of each Cover Page of this Schedule 13D is hereby incorporated herein by reference.

(c) During the last 60 days ending March 11, 2016, Nautical effected the following transactions of Class A Common Stock:

Date Amount Price per Share Type of Transaction
March 11, 2016 32,200 $ 2.20 open market sale

No other Reporting Person effected any transactions in any securities of the Issuer.

Item 7. Material to be Filed as Exhibits.

The following
shall be added to the end of Item 7:

2. Joint Filing Agreement dated March 15, 2016, attached as Exhibit 2 hereto.

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