Braemar Shipping Services Plc ("Braemar") has on27 January 2021 sold 9,600,000 shares in AqualisBraemar LOC ASA ("AqualisBraemar LOC" or the "Company"), representing 10.37% of the Company's outstanding shares, at a price ofNOK 7.50 per share. The shares were sold through an accelerated bookbuilding process managed bySpareBank 1 Markets AS as sole bookrunner. Braemar's Non-Executive ChairmanRonald Series is represented onAqualisBraemar LOC's Board of Directors. Following the transaction, Braemar holds 9,640,621 shares in AqualisBraemar LOC, corresponding to 10.42% of the share capital, calculated on the basis of 92,547,583 shares outstanding in the Company. Braemar also holds 6,523,977 performance-based warrants (the "Warrants"), as further described in the notice of and minutes from the Company's extraordinary general meeting held on14 December 2020 . Assuming full vesting of the Warrants, Braemar will hold 16,164,598 shares and rights to shares corresponding to 17.47% of the current registered share capital of the Company. This information is subject to disclosure requirements pursuant to sections 4-2 and 4-3 of the Norwegian Securities Trading Act.
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