Western Bulk Chartering AS — Earnings Release 2021

Oct 5, 2021

Western Bulk Chartering AS – Full year net profit after tax for 2021 expected to reach between USD 50 to 60 million

Western Bulk Chartering AS – Full year net profit after tax for 2021 expected to reach between USD 50 to 60 million

Western Bulk has had a very good start to the second half of 2021. Following a solid third quarter and based on current market outlook for the fourth quarter, full year net profit after tax is expected to reach between USD 50 and 60 million. This is an improvement of USD 10 million from the USD 40 to 50 million that was indicated as part of the of the First Half 2021 earnings release published on August 4th.

Contacts

For more information, please contact:

Hans Aasnæs, CEO

Tel: +47 922 53957

E-mail: hans.aasnas@westernbulk.com

Kenneth Thu, CFO

Tel: +47 988 74302

E-mail: kenneth.thu@westernbulk.com

About Western Bulk Chartering:

Western Bulk Chartering AS is a major dry bulk shipping operator. The company is listed on Euronext Growth Oslo since September 20th, 2021. See www.westernbulk.com for more information.

DISCLAIMERS

This press release contains forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as “believe,” “expect,” “anticipate,” “intends,” “estimate,” “will,” “may,” "continue," “should” and similar expressions. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although Western Bulk Chartering believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict and are beyond its control. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements.

The information, opinions and forward-looking statements contained in this release speak only as at its date and are subject to change without notice Western Bulk Chartering disclaims any obligation to update and revise any forward-looking statements, whether as a result of new information, future events or otherwise.