Gram Car Carriers ASA

Gram Car Carriers: Completion of acquisition of mid-size car carrier Paglia

Reference is made to the stock exchange notice by Gram Car Carriers ASA (the

"Company") on 31 October 2022 regarding the contemplated acquisition of the pure

car truck carrier "Paglia" (5,000 CEU) (the "Transaction").

The Company is pleased to announce that the Transaction has been successfully

completed by the Company's 100% owned subsidiary, Gram Car Carriers Shipowning

AS (the "Purchaser") and MS "Paglia" GmbH & Co. KG (the "Seller"), a 100% owned

subsidiary of F. Laeisz GmbH ("F. Laeisz"). Of the total purchase price of USD

49 million, USD 39.2 million has been settled in cash (the "Cash Payment") and

USD 9.8 million has been settled by the issuance of a seller's credit by the

Purchaser. The seller's credit will be contributed to the Company against the

issuance of 563,218 new shares in the Company to F. Laeisz, at a subscription

price of USD 17.4 (equal to approximately NOK 172.4) per share (the

"Consideration Shares").

The Cash Payment has been facilitated by a drawdown of an accordion facility

under the Purchaser's existing senior secured credit facility, under which the

available commitments have been increased from USD 262 million to USD 302

million for the purpose of the Transaction. The Consideration Shares will be

issued by the Company's board of directors pursuant to the authorization granted

by the annual general meeting on 12 May 2022. Further details will be disclosed

in due course.

F. Laeisz has agreed to a 12-month customary lock-up undertaking with respect to

the Consideration Shares.

For more information, please refer to the Company's stock exchange notice of 31

October 2022.

Contacts:

CEO, Georg A. Whist

Telephone: +47 41 60 16 81

Head of Projects and IR, Mas Gram

Telephone: +47 95 41 00 93

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

29 November 2022 at 14.50 CET.

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