MPC Container Ships ASA

Capital/Financing Update • Apr 25, 2024

MPCC Secures ECA-Covered Sustainable Financing for Its Dual-Fuel Methanol Newbuildings and Announces Co-CEO Structure

MPCC Secures ECA-Covered Sustainable Financing for Its Dual-Fuel Methanol Newbuildings and Announces Co-CEO Structure

MPCC Secures ECA-Covered Loan

Oslo, Norway - MPC Container Ships ASA (MPCC) has successfully signed a USD 55

million pre- and post-delivery ECA covered financing agreement with Deutsche

Bank and SINOSURE for its two dual-fuel methanol newbuildings. The vessels are

scheduled for delivery towards the end of 2024 and are secured by 15-year time

charter agreements with North Sea Container Line (NCL). The loan matures in

The two vessels feature dual-fuel engines that enable operation on green

methanol. Thus, this financing has been internally classified by the lender as

Sustainable Finance as the proceeds will be used for an activity that meets the

eligibility criteria of Deutsche Bank's own Sustainable Finance Framework.

"This project underlines MPCC's ability to structure and execute innovative

deals supporting the green transition in shipping and bringing together long

-term industry partners. The new financing agreement serves as validation of the

technology and structure of this project and our ambitious goal of establishing

the first green transportation corridor in Northern Europe. It furthermore adds

financing at attractive rates with long duration, thus preserving our strong

balance sheet and flexibility, in line with our general leverage strategy and

capital allocation principles," said Moritz Fuhrmann, CFO of MPCC.

Co-CEO and Executive Management Structure

The Board has today adopted measures to position and strengthen the executive

management team for the next phase of the Company's development.

Constantin Baack will continue to serve as CEO of MPCC, as he has done since the

inception of the Company. In addition, Moritz Fuhrman has now been appointed as

Co-CEO of MPCC alongside Mr. Baack with shared responsibility to run and develop

the Company. Mr. Fuhrmann will also retain his current position as CFO. The

management team is complemented by COO, Christan Rychly, who will continue to

oversee the operating fleet and newbuilding projects, maintaining MPCC's

reputation for operational excellence.

In June 2024, Constantin Baack will also assume the CEO role at MPC Capital AG

("MPC Capital"), MPCC's primary sponsor and largest shareholder. Mr. Baack has

been a member of the Management Board of MPC Capital since 2015.

Chairman of the Board, Ulf Holländer, commented on the Board's measures:

"Since its inception in 2017, MPCC has developed into a leading global tonnage

provider and created significant value for our shareholders. Going forward, we

are committed to maintaining our attractive distribution policy supported by

ample opportunities in the market.

Constantin Baack has successfully steered MPCC since its inception and remains

an invaluable part of the leadership team. He will continue to lead MPCC in

partnership with Moritz Fuhrmann as Co-CEO and Christian Rychly as COO. This

team has worked successfully together over the past few years. Since Mr.

Fuhrmann's appointment as CFO in 2022, he has been a driving force behind

several key measures that have successfully improved the Company's balance sheet

and financial performance. Looking ahead, we have strong confidence in this

team's ability to continue navigating our successful and promising path."

For more information, contact:

r@mpc-container.com (ir@mpc-container.com)

About MPC Container Ships

MPC Container Ships ASA (ticker code "MPCC") is a leading container tonnage

provider focusing on small to mid-size container ships. Its main activity is to

own and operate a portfolio of container ships serving intra-regional trade

lanes on fixed-rate charters. The Company is registered and has its business

office in Oslo, Norway. For more information, please visit www.mpc

-container.com.