Gram Car Carriers ASA

Gram Car Carriers ASA: Granting of share options to primary insiders and mandatory notifications of trade

The board of directors of Gram Car Carriers ASA ("GCC") has resolved to grant a

total of 800,000 share options (equivalent to approx. 2.78% of the company's

share capital) to primary insiders of GCC. Each option, when exercised, carries

the right to acquire one share in GCC, giving the right to acquire up to in

aggregate 800,000 shares. The strike price for the options is NOK 94.6154, which

has been set based on a 5-trading day volume weighted average price (VWAP) at

the latest annual general meeting of GCC prior to the award date, i.e. 12 May

2022. The strike price will be subject to an annual increase of 10% on a non

-accumulating basis up to the exercise date, adjusted for any dividends paid in

the period. The options will vest over a period of three years, in equal parts

yearly, and will lapse 2 years after the expiry of the vesting period. The

following primary insiders have been granted share options:

- Georg A. Whist (Chief Executive Officer) has been granted 400 000 share

options. Following the grant, Whist holds 238,009 shares through his wholly

owned company Currus Navi AS and 400,000 share options in GCC.

- Gunnar Koløen (Chief Financial Officer) has been granted 120,000 share

options. Following the grant, Koløen holds 18,745 shares and 120,000 share

options in GCC.

- Børre Mathisen (Chief Operating Officer) has been granted 160,000 share

options. Following the grant, Mathisen holds 30,035 shares and 160,000 share

options in GCC.

- Harald Mathias Gram (Head of Projects) has been granted 120,000 share

options. Following the grant, Gram holds 1,786,741 shares through his wholly

owned companies HM Gram Enterprises Limited, HM Gram Investments III Limited and

HMG AS, and 120,000 share options in GCC.

Furthermore, AL Maritime Holding Pte. Ltd., a close associate of alternate board

member and primary insider Nicolaus Bunnemann, has today purchased 42,058 shares

in GCC at a price of NOK 107 per share. AL Maritime Holding Pte. Ltd. is also

considered a close associate of board member and primary insider Clivia Breuel.

Following the transaction, AL Maritime Holding Pte. Ltd owns 2,134,190 shares in

GCC.

Please see the enclosed form for further details about the transactions.

About Gram Car Carriers ASA:

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

Carriers (PCTCs) segment with 18 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. To learn more, please visit https://gramcar.com/.

This information is subject to the disclosure requirements in Regulation EU

596/2014 (MAR) article 19 number 3 and section 5-12 of the Norwegian Securities

Trading Act.

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