MPC Container Ships ASA

Notice of Dividend Amount • Jan 31, 2023

MPC Container Ships declares event-driven dividend and carries out new portfolio optimization measures

MPC Container Ships declares event-driven dividend and carries out new portfolio optimization measures

· Board of Directors declares event-driven dividend of USD 0.07 per share

following successful conclusion of portfolio measures communicated in December

2022

· Sale of 2003-built joint venture vessel AS Carinthia

· Acquisition of two vessels, Rio Centaurus and TRF Kaya

MPC Container Ships ASA ("MPCC" or the "Company") is pleased to announce further

measures for portfolio optimization and capital allocation.

Event-driven dividend

Following the successful execution of the portfolio measures communicated on

December 13, 2022, the Board of Directors has resolved to declare an event

-driven dividend of USD 0.07 per share, to be paid out on February 28, 2023.

Following this distribution, MPCC will have declared over USD 470 million in

dividends over the past 12 months, which equals more than NOK 10 per share.

Portfolio optimization

Together with its joint venture partner, MPCC has agreed to sell AS Carinthia

(2003-built, 2,800 TEU) ahead of the vessels 20-year class renewal scheduled for

Q1 2023, for USD 7.6 million. The vessel was acquired in 2017 for USD 5.2

million and has since generated free cash flow from operations of USD 11.2

million. Upon completion of the sale, MPCC has reduced the number of joint

venture vessels from 8 to 2 since Q4 2021. The completion of the transaction is

subject to the successful handover of the vessel.

Moreover, MPCC has acquired Rio Centaurus (2010-built 3,400 TEU) and TRF Kaya

(2007-built 2,800 TEU) for in total USD 33.9 million. Both vessels are scrubber

-fitted, benefitting from the current high fuel price spread. Moreover, both

vessels come with existing charters attached with renewal in Q4 2023 and Q1

2024, respectively. The acquisitions will be funded via bank financing and cash

at hand.

Commenting on the dividend and portfolio measures, CEO Constantin Baack said:

"Following the successful execution of the portfolio measures communicated in

December, we are happy to declare another event-driven dividend, confirming our

ongoing commitment to return capital to our investors."

"We are also pleased to announce a new set of accretive measures in line with

our strategy for portfolio optimization and rational capital allocation. With

these transactions we further simplify and strengthen our corporate structure

and improve our fleet composition in terms of vessel size, age and design. The

acquisitions increase the earnings and distribution potential of the company

already in 2023 and onwards, without any impact on the expected distributions

from our existing fleet."

"MPC Container Ships is in a favorable position given the strong charter backlog

and a very healthy balance sheet. Under the current market conditions, we will

continue to optimize our fleet through potential vessel sales, accretive

acquisitions, or retrofit investments. At the same time, we will remain

committed to our ambition for reliable shareholder distributions."

Contact

ir@mpc-container.com

About MPC Container Ships

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

provider focusing on small to mid-size container ships. 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 visit www.mpc

-container.com.