Klaveness Combination Carriers

Capital/Financing Update • Oct 16, 2020

KCC: Exercise of KCC03 bond Call Option

KCC: Exercise of KCC03 bond Call Option

Oslo, 16 October 2020 - Klaveness Combination Carriers ASA ("the Company" or "the Issuer") has notified to the Bond Trustee today, 16 October 2020, that the Issuer will exercise the Call Option to redeem the entire KCC03 Bond Issue with maturity in May 2021 in accordance with clause 10.2 of the Bond Agreement.

- Redemption price: 101% of par value plus accrued and unpaid interest

- Settlement date: 1 December 2020

The Issuer has in 2020 in relation to the KCC04 bond issue, repurchased NOK 158 million of the KCC03 bond, remaining outstanding amount is NOK 142 million.

Please find attached Nordic Trustee's notice to the bond holders.

For further queries, please contact:

Liv H. Dyrnes, CFO, +47 22 52 60 00