Gram Car Carriers ASA

Gram Car Carriers transfers to Oslo Børs main market

Oslo, 15 December 2022: Gram Car Carriers ASA ("GCC") is pleased to announce the

successful transfer to the Oslo Børs main market with its shares continuing to

trade under the ticker "GCC".

"Today's listing on Oslo Børs is an important milestone for GCC as we execute on

our strategy as a leading owner of modern car carriers. We started trading on

Euronext Growth in January 2022, positioned to capture a historically strong

market and a plan to re-charter our fleet at higher rates, pay dividends and

uplist to Oslo Børs during the year. Since then, we have built a record revenue

backlog with long contract durations, delivered strong earnings growth, and

distributed capital to shareholders in three consecutive quarters in line with

policy," said Georg A. Whist, the CEO of GCC.

Gram Car Carriers ASA was admitted to trading on Euronext Growth Oslo on 31

January 2022 following a private placement raising USD 121 million in gross

proceeds, the completion of asset transactions with the former Singapore

corporate structure and F. Laeisz, and a refinancing of corporate debt and lease

facilities. At that time, the company had a market capitalisation of

approximately USD 171 million.

In the first nine months of 2022, GCC has reported USD 82.7 million of revenue

and EBITDA of USD 47.6 million while distributing an accumulated of USD 0.239

per share of equity capital, equal to 50% of net profit on a quarterly basis.

The revenue backlog at end September amounted to USD 563 million with USD 261

million of additional new contracts signed to date in the fourth quarter. An

additional USD 67 million of backlog accompanies the purchase of the car carrier

Paglia completed in the quarter. As of market closing on 14 December the

company's a market capitalisation was USD 458 million.

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.

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