SECOND QUARTER AND FIRST HALF YEAR RESULTS 2024

Fornebu, 19th August 2024, Ocean Yield AS (“Ocean Yield” or the “Company”) announces results for the second quarter and first half year 2024.

HIGHLIGHTS

• EBITDA for Q2 2024 was USD 58.5 million and Adjusted EBITDA was USD 96.6 million.
• Net profit for Q2 2024 was USD 24.3 million.
• Strong balance sheet, with an equity ratio of 34.9% and USD 246 million in available liquidity. In addition, a number of refinancings were completed after quarter end, giving a further positive liquidity effect of 31 million available to the Company.
• Post quarter end, agreement to acquire 34% indirect economic interest in France LNG Shipping SAS, a company owning a portfolio of LNG carriers on long-term charters to three investment grade counterparties.
• The EBITDA charter backlog at the end of Q2 2024 was USD 3.9 billion with an average remaining contract duration of 10.1 years. Adjusted for the announced LNG transaction, the EBITDA charter backlog was USD 4.7 billion.

Andreas Røde, CEO of Ocean Yield, said in a comment:
“I am pleased to report strong figures for the second quarter of 2024, with net profit of USD 24.3 million and adjusted EBITDA of 96.6 million. The highlight of the quarter was the announced investment into France LNG Shipping SAS, a company which will own a fleet of 12 LNG carriers with long-term charters. We are pleased to partner with NYK, Geogas LNG and Access Capital Partners in a transaction which provides further diversification of our fleet and charter backlog, with a low carbon footprint.”

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