Gram Car Carriers ASA

Gram Car Carriers signs 3-year TC contract for City of Oslo and Viking Odessa, adding USD 61 million to backlog

Oslo, 23 February 2023: Gram Car Carriers ASA ("GCC") is pleased to announce

that the company has signed three-year time charter contracts for the

distribution vessels City of Oslo (2,000 CEU) and Viking Odessa (2,000 CEU) with

a leading European operator.

The dayrate is USD 27,750 per day for each vessel and the contract adds

approximately USD 61 million of future revenue to the contract backlog. The new

contracts will commence during the second quarter of 2023.

Georg A. Whist, the CEO of GCC, commented: "We continue to sign long-term

contracts reflecting favourable car shipping market fundamentals and are now

pleased to see the strong demand and limited vessel supply also impacting the

Distribution segment as we have previously communicated. A significant share of

our revenue days through 2025 are now covered at attractive dayrates which

support continued growth in earnings and capacity to provide attractive

shareholder distributions over time."

With these new contracts, GCC has 3%, 20% and 24% of total available revenue

days open for 2023, 2024 and 2025, respectively.

For further information, please contact:

CEO Georg A. Whist

Telephone: +47 41 60 16 81

IR Mas Gram

Telephone +47 95 41 00 93

About Gram Car Carriers:

GCC is the world's third-largest tonnage provider within the Pure Car Truck

Carriers (PCTCs) segment with 19 vessels, across the Distribution, Mid-size and

Panamax segments. The Company serves as a trusted provider of high-quality

vessels and logistics solutions ensuring safe, efficient and punctual shipment

of vehicles for a network of clients comprising of major global and regional

PCTC operators.

This information is considered to be inside information pursuant to the EU

Market Abuse Regulation and subject to the disclosure requirements pursuant to

Section 5-12 the Norwegian Securities Trading Act. This stock exchange release

was published by Mas Gram, IR responsible at Gram Car Carriers, on 23

February 2023 at 16.45 CET.

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