Klaveness Combination Carriers

Capital/Financing Update • Sep 2, 2020

KCC: Successful tap issue under existing senior unsecured bonds

KCC: Successful tap issue under existing senior unsecured bonds

Oslo, 2 September 2020 - Klaveness Combination Carriers ASA ("KCC" or the “Company”) has successfully completed a NOK 200 million tap issue under the Company’s existing senior unsecured bonds with maturity date 11 February 2025 and ISIN NO0010874530. The tap issue was priced at 98.5% of par value and the total outstanding amount after the tap issue is NOK 700 million. The transaction was significantly oversubscribed. The additional bonds will be issued under a temporary ISIN NO0010892870 until a listing prospectus for the additional bonds has been approved.

Danske Bank, Nordea, Pareto Securities and SEB acted as Joint Lead Managers for the tap issue.

For further queries, please contact:

Engebret Dahm, CEO

Telephone +47 22 52 62 62

Liv Dyrnes, CFO

Telephone +47 22 52 61 51

About Klaveness Combination Carriers ASA:

KCC is the world leader in combination carriers, owning and operating nine CABU and four CLEANBU combination carriers with another four CLEANBU combination carriers on order for scheduled delivery in the period 2020 - 2021. KCC’s combination carriers are built for transportation of both wet and dry bulk cargoes, being operated in trades where the vessels efficiently combine dry and wet cargoes with minimum ballast. Through their high utilization and efficiency, the vessels emit up to 40% less CO2 per transported ton compared to standard tanker and dry bulk vessels in current and targeted combination trading patterns.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.