Company Presentation

ABGSC Shipping Seminar

Gram Car Carriers ASA

13 October 2022

Disclaimer

THIS PRESENTATION IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES OF AMERICA, ITS TERRITORIES OR POSSESSIONS, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA OR TO ANY RESIDENT THEREOF, OR ANY JURISDICTION WHERE SUCH DISTRIBUTION IS UNLAWFUL. THIS PRESENTATION IS NOT AN OFFER OR AN INVITATION TO BUY OR SELL SECURITIES.

This presentation (the "Company Presentation") has been prepared by Gram Car Carriers ASA (the "Company", and together with its consolidated subsidiaries, the "Group").

This Company Presentation has been prepared for information purposes only, and does not constitute or form part of, and should not be construed as, any offer, invitation or recommendation to purchase, sell or subscribe for any securities in any jurisdiction, and neither the issue of the information nor anything contained herein shall form the basis of or be relied upon in connection with, or act as an inducement to enter into, any investment activity. This Company Presentation does not purport to contain all of the information that may be required to evaluate any investment in the Company or any of its securities and should not be relied upon to form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever. This presentation is intended to present background information on the Company, its business and the industry in which it operates and is not intended to provide complete disclosure upon which an investment decision could be made.

This Company Presentation is furnished by the Company, and it is expressly noted that no representation or warranty, express or implied, as to the accuracy or completeness of any information included herein is given by the Company. The contents of this Company Presentation are not to be construed as financial, legal, business, investment, tax or other professional advice. Each recipient should consult with its own professional advisors for any such matter and advice. Generally, any investment in the Company should be considered as a high-risk investment.

This Company Presentation is current as of 12 October 2022. Neither the delivery of this Company Presentation nor any further discussions of the Company with any of the recipients shall, under any circumstances, create any implication that there has been no change in the affairs of the Company since such date. This Company Presentation may contain forward-looking statements relating to the business, financial performance and results of the Company and/or the industry in which it operates. Forward-looking statements concern future circumstances and results and other statements that are not historical facts, sometimes identified by the words "believes", "expects", "predicts", "intends", "projects", "plans", "estimates", "aims", "foresees", "anticipates", "targets", and similar expressions. Any forward-looking statements contained in this Company Presentation, including assumptions, opinions and views of the Company or cited from third party sources, are solely opinions and forecasts which are subject to risks, uncertainties and other factors that may cause actual events to differ materially from any anticipated development. The Company provides no assurance that the assumptions underlying such forward-looking statements are free from errors and does not accept any responsibility for the future accuracy of the opinions expressed in this Company Presentation or the actual occurrence of the forecasted developments.

The distribution of this Company Presentation by the Company in certain jurisdictions is restricted by law. Accordingly, this Company Presentation may not be distributed or published in any jurisdiction except under circumstances that will result in compliance with any applicable laws and regulations. This Company Presentation does not constitute an offer of, or an invitation to purchase, any securities.

IN RELATION TO THE UNITED STATES AND U.S. PERSONS, THIS PRESENTATION IS BEING FURNISHED ONLY TO INVESTORS THAT ARE "QIBs", AS DEFINED IN RULE 144A UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE "U.S. SECURITIES ACT"). THE SHARES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER U.S. SECURITIES ACT OR WITH ANY SECURITIES REGULATORY AUTHORITY OF ANY STATE OR OTHER JURISDICTION IN THE UNITED STATES, AND MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES, OR TO OR FOR THE ACCOUNT OR BENEFIT OF A U.S. PERSON, EXCEPT PURSUANT TO AN APPLICABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE U.S. SECURITIES ACT AND IN COMPLIANCE WITH ANY APPLICABLE STATE SECURITIES LAWS.

This Company Presentation is subject to Norwegian law, and any dispute arising in respect of this Company Presentation is subject to the exclusive jurisdiction of Norwegian courts with Oslo District Court as first venue.

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Highlights

  1. Unique investment opportunity in leading PCTC tonnage provider
  1. Highly attractive market fundamentals with upcycle unfolding
  1. Ideally positioned to capture a strong market with 25%/49% open days in 2023/24, sold out in 2022

IV Steadily improving earnings with fleet rolling over on new contracts with further upside potential

  1. Returning minimum 50% of EPS to shareholders through quarterly dividends in line with policy

The world's third largest car carrier tonnage provider

Gram Car Carriers (GCC) in brief

Selected customers

  • Commercial manager of 26 car carriers - 22 on water and 4 newbuilds
    • 18 owned and 8 managed on behalf of third-party owners
    • Average fleet age ~10 years vs. global fleet average of 14 years
  • Commercial manager of Global Auto Carriers (GAC)
    • Building 4x7,000 CEU multifuel PCTCs with 2+2 options in China
  • Strong industry name engaged in car carrier investments since 1982
  • Extensive and long history of chartering vessels to all major global operators and key regional operators worldwide
  • Offices in Oslo (HQ) and Singapore
  • Listed on Euronext Growth Oslo with ticker "GCC"
    • Preparing for transfer to the Oslo Stock Exchange's main market before year-end 2022

Source: Company

4

A critical link in one of the world's largest industries

~19m CEU transported by sea

Who?

Value chain

Scope

1

Car manufacturer

Production of cars and

~ 90m produced / year

high & heavy vehicles

2

Shipping and logistics

Operator

services, including

~ 570 vessels

distribution (ports and

dealers), terminal services

and technical services

3

Tonnage provider

Providing and optimizing

~180 vessels

tonnage / logistics

solutions to operators

4

Dealers /

Sales and distribution

Logistics companies

to end-users

Examples

  • of vessels Ranking of tonnage providers:

60

50

40

30

20

10

0

Gram Car Carriers is among top three tonnage providers

Source: Company, Fearnresearch, SIN Clarksons

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Disclaimer

Gram Car Carriers AS published this content on 13 October 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 October 2022 12:41:03 UTC.