Second Quarter and First Half Year 2016 Report

Oslo, 12th July 2016, Ocean Yield ASA ("Ocean Yield" or the "Company") announces results for the second quarter ending 30th June and the first half year of 2016.

HIGHLIGHTS

-The Board of Directors has declared a dividend of USD 0.1725 per share for Q2 2016. This is an increase of 0.50 cents per share compared with the previous quarter. On an annualized basis, the dividend equals USD 0.69 per share. Based on the closing share price as of 12th July 2016, this is a dividend yield of 8.6% p.a. This is the 11th consecutive dividend increase since the IPO of Ocean Yield in July 2013.

-EBITDA was USD 63.4 million for the second quarter 2016 compared with USD 56.0 million for the second quarter of 2015. Adjusted for finance lease effects, the EBITDA was USD 69.3 million in Q2 2016 compared to USD 58.4 million in Q2 2015.

-Net profit after tax was USD 25.5 million for the second quarter 2016 compared with USD 25.8 million for the second quarter of 2015. -Net profit after tax, adjusted for non-recurring items, currency fluctuations, mark-to-market of derivatives and changes to deferred tax, was USD 31.6 million compared with USD 27.1 million in Q2 2015.

-Investment in 49.5% equity interest in six newbuilding mega container vessels with 15-year charters.

The dividend will be paid on or about 27th July 2016 to shareholders as of 15th July 2016 registered with the Norwegian Central Securities Depository (the "VPS") as of 19th July 2016 (the "Record Date"). The ex-dividend date will be 18th July 2016.

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

Investor relations contact: Marius Magelie, Senior Vice President Finance & IR +47 24 13 01 82

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