American Shipping Company ASA: Company Presentation

Lysaker, Norway, 7 September 2022: American Shipping Company ASA (“AMSC”) has published an updated company presentation. The company presentation is attached and will be available on AMSC’s website at www.americanshippingco.com.

AMSC Company contacts:

Pål Magnussen, Chief Executive Officer +47 90 54 59 59

Morten Bakke, Chief Financial Officer +47 900 955 94

Leigh Jaros, Controller +1 484 880 3741

About American Shipping Company ASA:

Established in 2005 and listed on the Euronext Oslo Stock Exchange, AMSC is a ship owning company with nine modern handy size product tankers, one modern handy size shuttle tanker and one subsea construction vessel on bareboat charters with various counterparties. AMSC has a significant contract backlog, as well as profit sharing agreements with Overseas Shipholding Group, Inc. and Keystone Shipping Co., which offers visibility with respect to future earnings and potential dividend capacity. The Company has an ambition to pay attractive dividends to its shareholders. Further information is available at www.americanshippingco.com.