Fornebu, 21[st] November 2023, Ocean Yield AS ("Ocean Yield" or the "Company")
announces results for the third quarter 2023.

Highlights

  · EBITDA for Q3 2023 was USD 51.5 million and adjusted for lease effects was
USD 79.0 million.
  · Net profit for Q3 2023 was USD 18.5 million.
  · Strong balance sheet, with an equity ratio of 30.6% and USD 133.8 million in
cash.
  · During the third quarter, the Company signed an agreement to acquire four
LR1 newbuilding product tankers with sustainability-linked long-term bareboat
charters to Braskem S.A.
  · Also during the quarter, the Company took delivery of a newbuilding
container vessel with seven-year time charter.
  · During the quarter, the Company issued a new NOK 750 million senior
unsecured bond loan (OCY09) with a five-year tenor. The proceeds were used to
refinance outstanding debt and for general corporate purposes.
  · Post quarter end, the Company agreed to acquire a 2016-built Suezmax tanker
with eight-year bareboat charter to Nordic American Tankers Ltd.
  · Post quarter end, the Company agreed to acquire two 2022-built Suezmax
tankers with 14-year bareboat charters to guaranteed subsidiaries of Euronav NV.
  · Also post quarter end, the two AHTS vessels previously trading in a pool
with Solstad Offshore ASA, commenced new five-year bareboat charters to Viking
Supply Ships AB.
  · The EBITDA charter backlog at the end of Q3 2023 was USD 4.1 billion with an
average remaining contract duration of 10.2 years.

Andreas Røde, CEO of Ocean Yield, said in a comment:
"This has been an active period for Ocean Yield, where we during the third
quarter and after quarter end, have signed agreements for seven new vessels with
long-term charters, in addition to taking delivery of a newbuilding container
vessel and delivering the two AHTS vessels on new long-term bareboat charters.
The Company continues to focus on accretive growth opportunities while
maintaining a strong balance sheet. Our charter backlog per quarter end was
record high at USD 4.1 billion with more than 10 years average contract
duration, with all vessels fifixed on long-term charters."

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.