MPC Container Ships ASA

Earnings Release • Mar 25, 2022

MPC Container Ships ASA publishes FY 2021 Annual Report and FY 2021 ESG Report

MPC Container Ships ASA publishes FY 2021 Annual Report and FY 2021 ESG Report

Oslo, 25 March 2022 - MPC Container Ships ASA (the "Company", together with its

subsidiaries the "Group") today published its FY 2021 Annual Report, including

the Company's Corporate Social Responsibility Statement, Remuneration Report and

Corporate Governance Report as separate sections. Furthermore, the Company's FY

2021 ESG Report has been published as a separate document.

· Total revenue was USD 384.7 million in FY 2021 (FY 2020: USD 171.9 million).

· EBITDA was USD 290.4 million in FY 2021 (FY 2020: USD 16.2 million).

· Net profit of USD 189.9 million in FY 2021 (FY 2020: USD net loss of 64.5

million).

· Average time charter equivalent ("TCE") was USD 16,887 per day in FY 2021

(FY 2020: USD 8,102 per day).

· Cash and cash equivalents stood at USD 180.3 million as of 31 December 2021.

As at the same date, the Group has an equity ratio of 70.4% and a leverage ratio

of 22.4%.

As at 31 December 2021, the Group owns and operates 68 container vessels,

whereof 61 are fully owned and 7 are operated in a joint venture.

CEO Constantin Baack comments in relation to the announcement: "For MPCC the

year 2021 marks the successful transition from significant growth to a very

strong value proposition on the back of high earnings visibility for the years

ahead.

At the time of issuing our FY 2021 Annual Report, we continue to see supply

chain disruptions, that are recently re-emphasised by the lockdowns in China,

which will continue to exert pressure on the logistical infrastructure.

Moreover, we are presently witnessing a geopolitical crisis which we sincerely

hope will de-escalate.

During the first months of 2022, we have significantly improved our earnings

visibility as we continue to conclude charter contracts well in advance of

redelivery of the vessel, at prolonged periods and record rates. The milestones

and impressive results of 2021 have only been possible due to the dedication,

tremendous efforts and flexibility of the crews onboard our vessels and our

onshore staff, for which I am grateful. Furthermore, I would like to thank our

customers and partners for their vote of confidence in MPCC, and our

shareholders for their continued support."

The FY 2021 Annual Report and the FY 2021 ESG Report are attached hereto and

made available on the Company's webpage www.mpc-container.com.

The Company also publishes the annual report in European Single Electronic

Format (ESEF), available as an attachment to this release.

The above information is subject to the disclosure requirements pursuant to

section 5-12 of the Norwegian Securities Trading Act.

For further information, please contact ir@mpc-container.com.

About MPC Container Ships ASA:

MPC Container Ships ASA (ticker code "MPCC") is a leading container tonnage

provider with a focus on the segment below 5,000 TEU. Its main activity is to

own and operate a portfolio of container ships serving intra-regional trade

lanes on fixed-rate charters. The Company is registered and has its business

office in Oslo, Norway. For more information, please see our website: www.mpc

-container.com.