Gram Car Carriers ASA

Gram Car Carriers signs 3-year TC extension for Höegh Caribia, adding USD 24 million to backlog

Oslo, 1 November 2022: Gram Car Carriers ASA ("GCC") is pleased to announce that

the company has signed a three-year extension of the timecharter contract for

the distribution vessel Höegh Caribia (2,000 CEU) with the current charterer

Höegh Autoliners.

The dayrate is USD 22,000 per day and the contract adds approximately USD 24

million of future revenue to the contract backlog. The new rate and extension

will commence in January 2023.

Georg A. Whist, the CEO of GCC, commented: "We continue to increase our backlog

and future revenue visibility in a strong car shipping market. Open capacity for

2023 is limited, and we have secured a significant share of our 2024 revenue

days at attractive dayrates. This supports earnings growth and our capacity to

provide attractive dividends."

With this new contract for Höegh Caribia, GCC has 14% and 38x% revenue days open

for 2023 and 2024, respectively.

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 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 release

was published by Gunnar S Koløen, CFO at Gram Car Carriers, on 1st November 2022

at 15.55 CEST.

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