Gram Car Carriers ASA

Gram Car Carriers acquires additional 15.9% of mid-size car carrier Mediterranean Sea for USD 3.78 million

Oslo, 19 July 2023: Gram Car Carriers ASA ("GCC") has agreed to acquire, in two

separate transactions, an additional 15.9 % equity ownership in Gram Car AS, a

single purpose company owning the Pure Car Truck Carrier the Mediterranean Sea

(5,000 CEU, built 2010), for a total consideration of USD 3.78 million.

The transaction is expected to support increased dividend distributions.

GCC is the commercial manager of Gram Car AS, holding 60% of the shares

outstanding prior to this acquisition. Following these transactions, GCC will

own 75.9% of the shares in Gram Car AS.

"We are investing in a high-quality vessel we know very well at an attractive

price-point. The transaction has favourable return characteristics and is

accretive to our future dividend distributions," said Georg A. Whist, the CEO of

GCC.

The vessel is on a contract at USD 25,500 per day plus scrubber premium until

the third quarter of 2025. The Mediterranean Sea is financed with a USD 11.5

million senior secured loan as per 30 June 2023 at SOFR +3.25% with maturity in

April 2026.

GCC will finance the acquisition of the 15.9% stake in Gram Car AS with

available liquidity.

For further information, please contact:

CEO Georg A. Whist

Telephone: +47 41 60 16 81

Head of Projects and 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 notice

was published by Mas Gram, Head of Projects and IR at Gram Car Carriers ASA, on

19 July 2023 at 14.50 CEST.

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