AMSC ASA - Remuneration Information 2021

American Shipping Company ASA: Buyback of own shares and share sale arrangement as part of incentive scheme for employees

16 September 2021 - On 20 April 2021, the Annual General Meeting of American

Shipping Company ASA ("AMSC" or the "Company") granted the Board of Directors of

AMSC an authorization to purchase treasury shares in connection with the

Company's incentive scheme for employees. In accordance with this authorization,

the Company will today place an order with an investment broker for purchase of

45,000 treasury shares, with execution from 17 September 2021 and onwards.

25,000 shares will be sold to Pål Magnussen, CEO of AMSC, and 20,000 shares will

be sold to MB Capital AS, a company controlled by Morten Bakke, CFO of AMSC, as

part of the incentive scheme for the Company's employees. The purchase price

shall be the closing price in the AMSC shares on Oslo Børs at the date AMSC

delivers the shares to the employees, less a price reduction of 20% to

compensate for lock-up restrictions on the shares for a period of three years.

***

This release is an announcement subject to the disclosure requirements pursuant

to section 5-12 of the Norwegian Securities Trading Act. It is issued for

information purposes only, and does not constitute or form part of any offer or

solicitation to purchase or subscribe for securities, in the United States or in

any other jurisdiction. The securities mentioned herein have not been, and will

not be, registered under the United States Securities Act of 1933, as amended

(the "US Securities Act"). The securities may not be offered or sold in the

United States except pursuant to an exemption from the registration requirements

of the US Securities Act.

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