06 Dec 2022

Ocean Yield AS ("Ocean Yield" or the "Company") is pleased to announce that the Company has agreed to acquire up to ten newcastlemax dry bulk newbuildings for a total consideration of up to USD 576 million net of seller’s credits.

Upon delivery, the vessels will commence 15-year bareboat charters to a leading dry bulk operator with purchase obligations at the end of the charter period. Expected delivery will be between Q1 2025 and Q2 2026.

The final transaction scope will be a minimum of five and a maximum of ten vessels, to be determined at a later stage. Assuming a transaction scope of ten vessels, the transaction will add around USD 950 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.