Gram Car Carriers ASA

M&A Activity • May 28, 2024

Acceptance of the recommended voluntary cash offer by SAS Shipping Agencies Services Sàrl to acquire all outstanding shares of Gram Car Carriers ASA by close associates of primary insiders

Acceptance of the recommended voluntary cash offer by SAS Shipping Agencies Services Sàrl to acquire all outstanding shares of Gram Car Carriers ASA by close associates of primary insiders

28 May 2024:

Reference is made to the stock exchange announcement on 24 April 2024 where it

was announced that SAS Shipping Agencies Services Sàrl ("SAS" or the "Offeror")

had reached an agreement with Gram Car Carriers ASA ("GCC" or the "Company") to

launch a recommended voluntary cash offer (the "Offer") to acquire all issued

and outstanding shares of the Company (the "Shares") for a cash consideration of

NOK 263.69 per Share, and the announcement on 27 May 2024 regarding launch of

the Offer. The offer period for the Offer commenced at 09:00 hours (CEST) on 27

May 2024.

The following close associates of primary insiders of the Company have accepted

the Offer for all their respective Shares, representing in aggregate 15,908,711

Shares, equivalent to approximately 54.89% of the issued and outstanding share

capital of the Company (excluding the 300,000 shares held in treasury by the

Company), as further specified below:

· F. Laeisz GmbH, a close associate of primary insider Nikolaus H. Schües

(Vice chair of the board of directors): 8,319,668 Shares.

· AL Maritime Holding Pte Ltd, a close associate of primary insiders Clivia

Breuel (Board member) and Mr. Nicolaus Bunnemann (Alternate board member):

3,632,265 Shares.

· Glenrinnes Farms Limited, a close associate of primary insider Alasdair

Locke (Board member): 2,188,782 Shares.

· HM Gram Investments III Limited (1,017,996 Shares) and HM Gram Enterprises

Limited (750,000 Shares), close associates of primary insider Harald Mathias

("Mas") Gram (Head of Projects & IR).

For further information, please contact:

IR Contacts:

Gram Car Carriers ASA

Mas Gram, Head of Projects and IR

Telephone: +47 95 41 00 93

E-mail: ir@gramcar.com

Media Contacts:

Gram Car Carriers ASA

Jan Petter Stiff, senior adviser Capient AS

Telephone: +47 995 13 891

E-mail: jps@capientco.com

This information is subject to the disclosure requirements in Section 5-12 of

the Norwegian Securities Trading Act.