Investment in Suezmax tanker with long-term charter

Ocean Yield AS ("Ocean Yield" or the "Company") is pleased to announce that it has agreed to acquire a 2016-built Suezmax tanker with an 8-year bareboat charter to Nordic American Tankers Ltd. (“NAT”) with a purchase obligation at the end of the charter period. The vessel will be delivered to Ocean Yield during the fourth quarter. NAT is a leading crude tanker company listed on the New York Stock Exchange with a fleet of 20 Suezmax tankers.

CEO Andreas Røde said in a comment: "This is the third transaction between Ocean Yield and NAT since 2017, reflecting the strength of the long-term partnership between the two companies. We have a long track-record of successfully growing with our partners, and we are pleased to continue to support NAT with its fleet growth and renewal.”

The transaction will add approximately USD 80 million to the Company's EBITDA backlog.

Company contacts:

Andreas Røde (CEO), Tel +47 24 13 42 45

Eirik Eide (CFO), Tel +47 24 13 01 91

Investor Relations contact:

Karl Fredrik Schjøtt-Pedersen (SVP Finance & Investor Relations), Tel +47 951 32 335

Company information:

Ocean Yield AS is a ship owning company with investments in vessels on long-term charters. The company has a significant contract backlog that offers visibility with respect to future earnings.