AMSC ASA — AGM Information 2022

Apr 1, 2022

American Shipping Company ASA: Notice of Annual General Meeting

American Shipping Company ASA: Notice of Annual General Meeting

The annual general meeting of American Shipping Company ASA will be held on

Friday, April 22, 2022 at 11:00 CEST as a virtual meeting. The proposed agenda

includes election of new members to the board of directors and election of new

auditor.

The meeting will be conducted as a virtual meeting only, accessible online via

Lumi AGM. All shareholders will be able to participate in the meeting, vote and

ask questions from smartphones, tablets or desktop devices. For further

information regarding electronic participation, please refer to the guide

available at www.americanshippingco.com.

No pre-registration is needed for attending online, but attendees must be logged

in before the meeting starts. Deadline for registration of advance votes and

proxies is April 21, 2022 at 16:00 CEST.

Please find attached the following documents:

. Notice of Annual General Meeting 2022, incl. proxy form

. The Board of Directors' proposed resolutions

. Statement from the audit committee concerning election of new auditor

. Remuneration report for executive management for 2021

. Recommendation from the Nomination Committee

. Confirmation from KPMG of equity coverage after share capital reduction

All documents to be processed in the meeting, as well as the participation link

and guidelines for online participation, will also be made available on

www.americanshippingco.com.

About American Shipping Company ASA:

Established in 2005 and listed on the Oslo Stock Exchange, AMSC is a ship owning

company with nine modern handy size product tankers and one modern handy size

shuttle tanker on bareboat charter with Overseas Shipholding Group (OSG). OSG

charters the vessels out on time charters to major oil companies in the U.S.

coastwise Jones Act trade.  AMSC has a significant contract backlog as well as a

profit sharing agreement with OSG which offers visibility with respect to future

earnings and potential dividend capacity. The Company has an ambition to pay

attractive dividends to its shareholders. Further information is available at

www.americanshippingco.com.

Company contacts:

Pål Magnussen, Chief Executive Officer

+47 24 13 00 04

Morten Bakke, Chief Financial Officer

+47 24 13 00 87

Leigh Jaros, Controller

+1 484 880 3741

This information is subject to the disclosure requirements pursuant to section 5

-12 of the Norwegian Securities Trading Act.