Gram Car Carriers ASA

Gram Car Carriers signs 5-year TC contract for Viking Bravery, adding USD 118 million to backlog

Oslo, 10 November 2022: Gram Car Carriers ASA ("GCC") is pleased to announce

that the company has signed a five-year timecharter contract with European

operator for the Panamax vessel Viking Bravery (6,700 CEU).

The average dayrate is USD 64,900 per day and the contract adds USD 118 million

of future revenue to the contract backlog. The new timecharter will commence in

July 2023.

The charter is structured with a tapered dayrate profile, starting at USD 73,000

per day for year one, before declining stepwise to USD 53,000 per day for year

five. The charterer has an option to extend the charter for a further 3 years

at USD 48,000 per day.

Georg A. Whist, the CEO of GCC, commented: "Viking Bravery is the third out of

our four Panamax vessels now fixed at long durations, providing us with an

increased backlog and long-term revenue visibility. Open capacity for 2023 is

limited, and we have secured a significant share of our 2024 revenue days at

attractive dayrates. This provides a strong foundation for earnings growth and

attractive dividends in line with our strategy going forward."

With this new contract for Viking Bravery, GCC has 10% and 23% revenue days open

for 2023 and 2024, 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 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.

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, Head of Projects at Gram Car Carriers, on 10November

2022 at 17.15 CEST.

AI Terminal