Fornebu, 29th October 2019, Ocean Yield ASA ("Ocean Yield" or the "Company")
announces results for the third quarter ending 30th September 2019.

Highlights

  · Declared dividend for Q3 2019 of USD 0.1910 per share. This is the 25th
consecutive quarterly dividend.
  · EBITDA for Q3 2019 was USD 57.2 million and EBITDA adjusted for finance
lease effects was USD 80.8 million.
  · Net profit after tax for Q3 2019 was negative USD 63.2 million. This
includes an impairment of USD 68.4 million on the book value of the FPSO
Dhirubhai-1. The impairment reflects new estimates for future earnings from the
FPSO and that it will take more time than earlier envisaged to secure new long
-term employment.
  · Adjusted net profit was USD 11.0 million of which adjusted net profit from
vessels with long-term charters was USD 22.5 million, while vessels without long
-term charter contributed negatively with USD 11.5 million.
  · Acquisition of two newbuilding Newcastlemax dry bulk vessels for a total net
consideration of USD 84.0 million, with 13-year bareboat charters to 2020
Bulkers Ltd.
  · Acquisition of one ethylene gas carrier for a total net consideration of USD
69.75 million, with 13-year bareboat charter to Navigator Holdings Ltd.
  · Acquisition of one handysize dry bulk newbuilding for a total net
consideration of USD 18.0 million, with 10-year bareboat charter to Interlink
Maritime Corp.
  · Delivery of the final two vessels in a series of four newbuilding VLCCs with
15-year bareboat charter to Okeanis Eco Tankers Corp. and with five year sub
charter to Koch Shipping Pte. Ltd.
  · Successfully raised USD 125 million in hybrid perpetual bonds for new
investments and general corporate purposes.

Lars Solbakken, CEO of Ocean Yield, said in a comment:
"The market for new leasing transactions is currently offering attractive
investment opportunities and Ocean Yield intends to continue the growth of its
portfolio of vessels with long term charter. With recent investments in four new
vessels, the total number of vessels is now 65 with an increasingly diversified
charter backlog of USD 3.5 billion."

Company contact:

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

Investor Relations contact:

Marius Magelie (SVP Finance & IR), Tel +47 24 13 01 82



Company information:

Ocean Yield ASA 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 and dividend capacity.