KCC: Launch of share buyback program

13 Dec 2024 08:00 CET

Oslo, 13 December 2024: The Board of Directors of Klaveness Combination Carriers
ASA (“KCC” or “the Company”) has resolved to initiate a share buyback program.
The share buyback program will be executed in accordance with the authorization
granted to the Board of Directors by the Annual General Meeting of KCC held on
23 April 2024.

The share buyback program covers purchases of up to 1,200,000 shares, equivalent
to approximately 2.0% of the Company's current share capital, with a maximum
consideration of USD 9.1 million. The buyback program will commence 13 December
2024 and end not later than 31 March 2025. 250,000 shares repurchased will be
used for the long-term incentive program (LTIP) including both the share
purchase program and options granted under the LTIP. The remaining up to 950,000
shares will be redeemed to reduce the share capital of the Company, subject to
necessary resolutions by a general meeting of the Company.

KCC has engaged DNB Markets, a part of DNB Bank ASA, to manage and carry out the
share repurchases in the market. DNB Markets will make its trading decisions
independently of, and uninfluenced by KCC.

The share buyback program will be carried out in accordance with Regulation (EU)
No 596/2014 (the "Market Abuse Regulation") and Commission Delegated Regulation
(EU) No 2016/1052 (the "Safe Harbour Regulation").

The Company reserves the right to make subsequent changes to the above terms for
the program and will in such case make appropriate announcements in this
respect.

KCC intends to continue distributing dividends in accordance with its dividend
policy: “KCC intends on a quarterly basis to distribute a minimum 80% of free
cash flow generation to equity after debt service and maintenance capex to its
shareholders, provided that all known, future capital and debt commitments are
accounted for, and the Company’s financial standing remains acceptable.”

For further queries, please contact:
Engebret Dahm, CEO, Telephone +47 957 46 851
Liv Dyrnes, CFO, Telephone +47 976 60 561

About Klaveness Combination Carriers ASA:
KCC is the world leader in combination carriers, owning and operating eight CABU
and eight CLEANBU combination carriers with three CABU vessels under
construction for delivery in 2026. KCC’s combination carriers are built for
transportation of both wet and dry bulk cargoes, being operated in trades where
the vessels efficiently combine dry and wet cargoes with minimum ballast.
Through their high utilization and efficiency, the vessels emit up to 40% less
CO2 per transported ton compared to standard tanker and dry bulk vessels in
current and targeted combination trading patterns.

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