Gram Car Carriers ASA repays lease debt for Viking Adventure

25 Jan 2024 10:39 CET

Oslo, 25 January 2024: Gram Car Carriers ASA ("GCC"), the world's third-largest
car carrier tonnage provider, has repaid the lease debt for the Viking Adventure
(6,700 CEU, 2015) to optimise the Company's capital structure.

GCC paid USD 30.5 million, using available liquidity, for the vessel which has
been financed with leasing debt. The Company is in the process of establishing
new competitively priced debt financing compared to the lease margin of SOFR +
4.26%.

"We continuously seek to optimise our capital structure and cost base to
maximise profit and shareholder returns. Lower cost of debt, combined with a
near record revenue backlog built in a historically strong car shipping market,
support long-term cash flow visibility and continued attractive dividend
distributions," said Georg A. Whist, the CEO of GCC.

For further information, please contact:

CFO Gunnar S. Koløen

E-mail: ir@gramcar.com

Head of Projects and IR Mas Gram

E-mail: ir@gramcar.com

About Gram Car Carriers:

GCC is the world's third-largest tonnage provider within the Pure Car Truck
Carriers (PCTCs) segment with 18 owned vessels, across the Distribution, Mid
-size and Panamax segments. The Company serves as a trusted provider of high
-quality vessels and logistics solutions ensuring safe, efficient and punctual
shipment of vehicles for a network of clients comprising of major global and
regional PCTC operators. To lean more, please visit gramcar.com.

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

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