Gram Car Carriers ASA

Gram Car Carriers ASA: Sale of Mid-size vessel Viking Amber to capture attractive second-hand values

Oslo, 6 February 2024: Gram Car Carriers ASA ("GCC") has signed an agreement to

sell the Mid-size Pure Car and Truck Carrier (PCTC) Viking Amber (4,200 CEU,

built 2010) for a total cash consideration of USD 64.6 million to capitalise on

historically high second-hand vessel values.

GCC expects to recognise a net book gain of USD 36.6 million upon completion of

the sale and delivery of the vessel to the new owner at the end of its

timecharter contract in the second quarter of 2024. The buyer of the vessel is

an investment company, backed by a European-based vehicle logistics company.

"The transaction is in line with our strategy of capturing additional value in a

strong car shipping market which is reflected in both historically high charter

rates and asset values. The sale will free up capital to strengthen our balance

sheet and support quarterly dividend distributions in line with our policy of

paying 75% of net profit. It is also a confirmation our previous statement that

there are prices where we are sellers and there are prices where we are

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

Contacts:

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 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 notice

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

6 February 2023 at 06.30CET.

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