NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OF AMERICA AND THE DISTRICT OF COLUMBIA) (THE "UNITED STATES"), AUSTRALIA, CANADA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE'S REPUBLIC OF CHINA OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.

Reference is made to the announcement on 31 January 2022 regarding potential stabilisation activities in respect of the shares in Gram Car Carriers ASA ("GCC" or the "Company") in connection with the private placement of shares in the Company (the "Offering") and the admission to trading of the Company's shares on Euronext Growth Oslo.

Pareto Securities AS (the "Stabilisation Manager"), acting as stabilisation manager in connection with the Offering on behalf of the Managers (as defined below), hereby gives notice that the stabilisation period initiated on 31 January 2022 has now ended. No stabilisation activities have been undertaken.

In order to permit redelivery of shares in the Company which were borrowed and over-allotted in the Offering, the Stabilisation Manager has today, 1 March 2022, exercised its option to purchase from F. Laeisz GmbH ("F. Laeisz") 883,103 shares (ISIN NO0011109563), at the offer price in the Offering of NOK 53.00 per share (the "Offer Price").

As a consequence of the above, F. Laeisz will today, outside a trading venue, sell 883,103 shares at the Offer Price and retain a shareholding of 7,252,255 shares, equivalent to approx. 25.25% of the Company's total number of shares and votes.

Fearnley Securities AS and Pareto Securities AS acted as joint global coordinators and joint bookrunners (the "JGCs"), and Clarksons Platou Securities AS, Nordea Bank Abp, filial i Norge, Skandinaviska Enskilda Banken AB (publ) (Oslo Branch), and Swedbank Norge, Norwegian branch of Swedbank AB (publ) (in cooperation with Kepler Cheuvreux S.A) acted as joint bookrunners in the Offering (together with the JGCs, the "Managers").

For further information, please contact:

Pareto Securities AS

Martin Øberg Sjøstedt

Tel: +47 22 87 87 14

This information is published in accordance with the disclosure requirements pursuant to article 6 no. 3 and article 8 (f) of Commission Delegated Regulation (EU) 2016/1052.

Important notice:

This announcement does not constitute or form a part of any offer of securities for sale or a solicitation of an offer to purchase securities of Gram Car Carriers ASA in the United States or any other jurisdiction. The securities of the Company may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"). The securities of the Company have not been, and will not be, registered under the U.S. Securities Act. Any sale in the United States of the securities mentioned in this communication will be made solely to "qualified institutional buyers" as defined in Rule 144A under the U.S. Securities Act. No public offering of the securities will be made in the United States.

In any EEA Member State, this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the EU Prospectus Regulation, i.e., only to investors who can receive the offer without an approved prospectus in such EEA Member State. The expression "EU Prospectus Regulation" means Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 (together with any applicable implementing measures in any Member State).

In the United Kingdom, this communication is only addressed to and is only directed at Qualified Investors who (i) are investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the "Order") or (ii) are persons falling within Article 49(2)(a) to (d) of the Order (high net worth companies, unincorporated associations, etc.) (all such persons together being referred to as "Relevant Persons"). These materials are directed only at Relevant Persons and must not be acted on or relied on by persons who are not Relevant Persons. Any investment or investment activity to which this announcement relates is available only to Relevant Persons and will be engaged in only with Relevant Persons. Persons distributing this communication must satisfy themselves that it is lawful to do so.

The information in this announcement speak only as at its date. Each of the Company, the Managers and their respective affiliates expressly disclaims any obligation or undertaking to update, review or revise any statement contained in this announcement whether as a result of new information, future developments or otherwise.

The Managers are acting exclusively for the Company and no one else and will not be responsible to anyone other than the Company for providing the protections afforded to their respective clients, or for advice in relation to the contents of this announcement or any of the matters referred to herein. Neither the Managers nor any of their respective affiliates makes any representation as to the accuracy or completeness of this announcement and none of them accepts any responsibility for the contents of this announcement or any matters referred to herein.

This announcement is for information purposes only. It is not intended as investment advice and under no circumstances is it to be used or considered as an offer to sell, or a solicitation of an offer to buy any securities or a recommendation to buy or sell any securities of the Company. Neither the Managers nor any of their respective affiliates accepts any liability arising from the use of this announcement.

Certain figures contained in this document, including financial information, may have been subject to rounding adjustments. Accordingly, in certain instances, the sum or percentage change of the numbers contained in this document may not conform exactly with the total figure given.

The distribution of this announcement and other information may be restricted by law in certain jurisdictions. Persons into whose possession this announcement or such other information should come are required to inform themselves about and to observe any such restrictions. Specifically, neither this announcement nor the information contained herein is for publication, distribution or release, in whole or in part, directly or indirectly, in or into or from the United States (including its territories and possessions, any State of the United States and the District of Columbia), Australia, Canada, Hong Kong, Japan or any other jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction. The publication, distribution or release of this announcement may be restricted by law in certain jurisdictions and persons into whose possession any document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

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