MPC Container Ships ASA

Share Issue/Capital Change • Mar 31, 2022

MPC Container Ships ASA publishes company update

MPC Container Ships ASA publishes company update

Oslo, 31 March 2022 - MPC Container Ships ASA ("MPCC" or the "Company", and

together with its subsidiaries, the "Group") is pleased to announce the

following company update. The update includes the following:

Charter update on existing fleet

· Over the past weeks, MPCC has concluded five additional fixtures, including

four multi-year charters at very favourable rates securing employment up to 2027

· The new fixtures add contracted charter revenues USD 220m additional

projected EBITDA backlog of USD 180m

MPCC executes on an extraordinary opportunity to expand fleet with eco-design

5,500 TEU vessels

· MPCC orders two 5,500 TEU wide beam eco-design vessels with attractive

charters to ZIM Integrated Shipping Services (NYSE: ZIM) at favourable pricing,

supporting long-term earnings visibility and distribution capacity

· The newbuildings are contracted with Korean-based shipyard HJ Shipbuilding &

Construction and delivery is expected in early 2024

· The transaction adds contracted charter revenues USD 178m and additional

projected EBITDA backlog of USD 138m

· The contract price of USD 72,2m per vessel is covered by the expected cash

flow from the initial charter of 7 years with a significantly front-loaded cash

flow at an average TC of USD ~39,000/day

· This commitment to newbuilds will have no negative impact on expected

distributions in 2022 and 2023, but will support earnings visibility and

accretive distribution potential from 2024 and onwards

· The newbuilds will offer significant trading benefits under the new

environmental regulation, and improve the environmental footprint of the MPCC

fleet

CEO Constantin Baack comments in relation to the announcement: "Adhering to

MPCC's value strategy, rational decision making and capital allocation, we are

pleased to announce the conclusion of additional multi-year charter fixtures on

our operating fleet, proving the continued strength in our segments. This is

also supported by the execution of this extraordinary newbuilding opportunity as

we have ordered two eco-design newbuilding with attractive charters attached,

which fully mitigates residual value risk over its initial charter period, and

thereafter provides for significant upside potential. This transaction increases

the distribution potential in 2024 and onwards, without any impact on the

expected distributions from our existing fleet.

This transaction demonstrates the Company's capability to identify and execute

transactions that are both accretive in terms of earnings and environmental

footprint in line with upcoming de-carbonization regulations. We will continue

to execute on our distribution policy to shareholders whilst creating value by

seizing selective growth opportunities as they arise."

For further details on the market and company update on the Company, please

refer to the attached presentation.

The above information is subject to the disclosure requirements pursuant to

section 5-12 of the Norwegian Securities Trading Act.

Further information and contact:

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 small to mid-size containerships. 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.

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Forward-looking statements:

This announcement includes forward-looking statements. Such statements are

generally not historical in nature, and specifically include statements about

the Company's plans, strategies, business prospects, changes and trends in its

business, the markets in which it operates and its restructuring efforts. These

statements are made based upon management's current plans, expectations,

assumptions and beliefs concerning future events impacting the Company and

therefore involve a number of risks, uncertainties and assumptions that could

cause actual results to differ materially from those expressed or implied in the

forward-looking statements, which speak only as of the date of this news

release. Consequently, no forward-looking statement can be guaranteed. When

considering these forward-looking statements, you should keep in mind the risks

described from time to time in the Company's regulatory filings and periodical

reporting. The Company undertakes no obligation to update any forward-looking

statements to reflect events or circumstances after the date on which such

statement is made or to reflect the occurrence of unanticipated events. New

factors emerge from time to time, and it is not possible for the Company to

predict all of these factors. Further, the Company cannot assess the impact of

each such factor on its business or the extent to which any factor, or

combination of factors, may cause actual results to be materially different from

those contained in any forward-looking statement.