KCC: Updated Second Quarter 2026 TCE guidance

27 May 2026 21:58 CEST

Oslo, 27 May 2026: In connection with Klaveness Combination Carriers' ("KCC"
or the "Company") Q1 2026 Report published on 28 April 2026, the guidance
range for the KCC fleet was communicated at $39,900-43,200/day for Q2 2026.
Based on actual operational and earnings performance to date and updated
estimates for open positions, the updated guidance for Q2 is $36,500-38,400
/day.

The CABU TCE guidance is adjusted from the $32,500-34,500/day range published
in April to $33,500-34,500/day, reflecting continued strong CABU fleet
performance.

The CLEANBU TCE earnings guidance for Q2 2026 was communicated at
$49,000-54,000/day with the updated range being $40,000-43,000/day.
The initial guidance was based on 64% of the segment's Q2 2026 earnings days
being fixed. As of today, 84% of the CLEANBU earnings days for Q2 2026 have
been fixed.

Since the outbreak of the conflict in the Middle East and the closure of the
Strait of Hormuz, product tanker markets have experienced extreme volatility,
and freight rates have softened considerably from the market peak in April,
when the initial guidance was published. In recent weeks, in particular
product tanker rates in the Atlantic have seen a sharp decline. This has
resulted in lower rates achieved for the most recent CLEANBU fixtures and the
upcoming fixtures compared to the forward freight market assumptions in the
guidance communicated in April.

Nevertheless, the updated guidance remains at historically high levels and is
expected to support strong financial results for Q2 2026.

The guided number of on-hire days for the CABU vessels has changed from 784
days in the existing guidance to 748 days in the updated guidance mainly due
to six days of unscheduled off-hire and 30 less on-hire days related to the
vessel trapped inside the Strait of Hormuz. The latter will however be covered
by KCC's war risk loss of hire insurance. The updated number of on-hire days
for the CLEANBUs is 628 days, slightly down from 631 days in the existing
guidance.

CABU (TCE earnings per on-hire day and on-hire days)
Q2 2026 guidance per 28 April 2026[1]: $32,500-34,500/day (784 days)
Q2 2026 updated guidance per 27 May 2026[2]: $33,500-34,500/day (748 days)

CLEANBU (TCE earnings per on-hire day and on-hire days)
Q2 2026 guidance per 28 April 2026[1]: $49,000-54,000/day (631 days)
Q2 2026 updated guidance per 27 May 2026[2]: $40,000-43,000/day (628 days)

[1] Estimate based on booked cargoes and expected employment for open capacity
basis forward freight pricing (FFA)
[2] Estimate based on booked cargoes and expected rate level for open
positions

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

About Klaveness Combination Carriers ASA:
KCC is the world leader in combination carriers, owning and operating ten CABU
and eight CLEANBU combination carriers with one CABU vessel 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.

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation (MAR) and is subject to the disclosure requirements
pursuant to MAR article 17 and section 5-12 of the Norwegian Securities
Trading Act. This stock exchange release was published by Helen Vad Johansen,
Finance and Strategy Analyst, on 27 May 2026 at 21:58 (CEST).

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