Ocean Yield increasing its investment in Geogas LNG

07 May 2025 10:14 CEST

Ocean Yield AS ("Ocean Yield" or the "Company") announced last year an
investment in Geogas LNG, which provided an indirect economic interest of 34% in
the French company France LNG Shipping ("FLS").

Ocean Yield is pleased to announce that it has now agreed to purchase Access
Capital Partners' share in Geogas LNG. The transaction will increase Ocean
Yield's indirect economic interest in FLS from 34% to 45%.

FLS owns a portfolio of 12 LNG carriers on long-term charters to tier-one
investment grade-rated European energy companies and is 50/50 owned by NYK and
Geogas LNG. The fleet consists of 7 vessels on the water and 5 newbuildings,
with an average contract duration of 9 years, or 13 years including extension
options. The transaction will add approximately USD 250 million to Ocean Yield's
EBITDA backlog. Closing of the transaction is expected to occur during the
second or third quarter of 2025, subject to certain customary conditions.

Chief Executive Officer Andreas Røde said in a comment: "We are pleased to
increase our exposure in France LNG Shipping and further grow our presence in
the LNG segment. FLS has proven to be a well-established and solid performing
platform, backed by industry-leading partners in NYK and Geogas Maritime, both
of which retain their shareholding and economic interest in FLS."

BAHR acted as legal advisor to the Company in connection with the transaction.

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

Company contacts:

Andreas Røde (CEO), Tel +47 98 22 85 62

Eirik Eide (CFO), Tel +47 95 00 89 21

Investor Relations contact:

Karl Fredrik Schjøtt-Pedersen (SVP Finance & Investor Relations), Tel +47 95 13
23 35

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.

More information:
Access the news on Oslo Bors NewsWeb site