Gram Car Carriers ASA

Transaction in Own Shares • May 8, 2023

Gram Car Carriers ASA: Initiation of a share buyback program

Gram Car Carriers ASA: Initiation of a share buyback program

Oslo, 8 May 2023: Gram Car Carriers ASA ("GCC" or the "Company") has decided to

initiate a share buyback program of up to 300,000 of its own shares. Under the

share buyback program, shares may be acquired for a maximum amount of NOK 60

million in aggregate. The program shall be carried out in the period from this

announcement and until 31 August 2023 at the latest.

The purpose of the program is to give the board flexibility to use treasury

shares as settlement under the Company's incentive schemes or to reduce the

capital of the Company. Furthermore, shares acquired under the program may be

used by the Company in connection with investment within the Company's business

area or as settlement in potential acquisitions.

The share buybacks will be made in accordance with the authorizations granted to

the board of directors by GCC's annual general meeting on 12 May 2022, and

subject to and as proposed replaced by new authorizations by the annual general

meeting to be held on 12 May 2023.

The share buyback program will be carried out by way of repurchases of shares on

the Oslo Stock Exchange. GCC has engaged Fearnley Securities AS to carry out the

share buyback program on behalf of the Company. Fearnley Securities AS will make

its trading decisions independently of, and uninfluenced by, the Company.

The execution of any repurchases will depend on market conditions, the buyback

program may be discontinued at any time and the Company may resolve to terminate

the buyback program before the threshold set out above is reached. Further

announcements will be made if and when appropriate.

The share buyback program will be carried out in accordance with the Market

Abuse Regulation (EU) No 596/2014 (MAR) and the principles of Commission

Delegated Regulation (EU) No 2016/1052 (the Safe Harbour Regulation). Hereunder,

the number of shares acquired per day shall not exceed 25% of the average daily

trading volume in the 20 trading days preceding the relevant date of purchase.

For further information, please contact:

CEO Georg A. Whist

Telephone: +47 416 01 681

E-mail: georg.whist@gramcar.com

Head of Projects & IR: Mas Gram

Telephone: +47 954 10 093

E-mail: mas.gram@gramcar.com

About Gram Car Carriers:

GCC is the world's third-largest tonnage provider within the Pure Car Truck

Carriers (PCTCs) segment with 19 owned 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. To learn more, please visit gramcar.com.

This information is subject to the disclosure requirements pursuant to article 2

of the Safe Harbour Regulation and Section 5-12 the Norwegian Securities Trading

Act.