Second Quarter and First Half Year 2015 Report

Oslo, 9th July 2015, Ocean Yield ASA ("Ocean Yield" or the "Company") announces results for the second quarter ending 30th June and first half year 2015.

HIGHLIGHTS

-The Board of Directors has declared a dividend of USD 0.1525 per share for Q2 2015. This is an increase of 0.50 cents per share compared with the previous quarter. On an annualized basis, the dividend equals USD 0.61 per share. Based on the closing share price as of 9th July 2015, this is a dividend yield of 7.9% p.a. This is the 7th consecutive dividend increase since the IPO of Ocean Yield in July 2013.

-EBITDA was USD 56.0 million for the second quarter 2015 compared with USD 55.4 million for the second quarter of 2014.

-Net profit after tax was USD 25.8 million for the second quarter 2015 compared with USD 17.1 million for the second quarter of 2014.

-The charter backlog was USD 2.7 billion in revenues and USD 2.6 billion on an EBITDA basis, with an average weighted tenor of 10.1 years.

The dividend will be paid on or about 24th July 2015 to shareholders as of 14th July 2015 registered with the Norwegian Central Securities Depository (the "VPS") as of 16th July 2015 (the "Record Date"). The ex-dividend date will be 15th July 2015.

For the full report visit : www.ocy.no/ir

Company contacts:

Lars Solbakken, Chief Executive Officer +47 24 13 01 90 Eirik Eide, Chief Financial Officer +47 24 13 01 91

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