Gram Car Carriers ASA

Gram Car Carriers: Three-year time charter for MV Passero

Gram Car Carriers ASA ("GCC") is pleased to announce a three-year time charter

for the PCTC vessel MV Passero (5,000 CEU), being one of the two vessels

acquired from subsidiaries of F. Laeisz GmbH on 25 January 2022. The charter

contract has been concluded with a major Asian operator and will commence in May

2022. The time charter rate is USD 27,700 per day, providing a total contract

value of approximately USD 30 million over the charter period.

Georg A. Whist, the CEO of GCC, commented: "This contract confirms that we are

in a strong and firming market which is reflected in attractive returns and

longer contract durations. The new charter increases our long-term earnings

visibility and ability to provide direct shareholder returns through attractive

dividends."

As set out in the stock exchange notice of 12 January 2022, GCC is ideally

positioned to capture a strengthening market with 25% and 77% open days in 2022

and 2023, respectively. Upon completion of the transaction with F. Laeisz and

the new charter, GCC has 20% and 71% revenue days open for 2022 and 2023,

respectively.

For further information, please contact:

CEO Georg A. Whist

Telephone: +47 41 60 16 81

CFO Gunnar S. Koløen

Telephone: +65 9176 6661

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 subject to the disclosure requirements pursuant to Section 5

-12 the Norwegian Securities Trading Act.

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