AMSC ASA – New share capital registered

Reference is made to the stock exchange notice by AMSC ASA (the “Company”) on 15 September 2022 regarding the private placement of 11,247,333 new shares in the Company (the “Private Placement”) at a subscription price of NOK 36 per share.

The share capital increase for the 5,185,683 new shares in Tranche 2 of the Private Placement has now been registered with the Norwegian Register of Business Enterprises. The new share capital of the Company is NOK 71,863,838 divided into 71,863,838 shares with a nominal value of NOK 1 each.

The new shares will be delivered to the investors having subscribed for, and been allocated, shares in Tranche 2 of the Private Placement.

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For further queries, please contact:

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

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

About AMSC 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.amscasa.com.