Oslo, 11 April 2024: Klaveness Combination Carriers ("KCC" or the "Company")
preliminary CABU and CLEANBU TCE earnings for first quarter 2024 ended at $/day
34,824 and $/day 46,593 respectively. Fleet average TCE earnings for the quarter
ended at $/day 40,514, approximately $/day 3,700 higher than in Q4 2023 and
approximately at the weighted mid-point in the guiding range. 

The CABU fleet continued to deliver strong TCE earnings in Q1 2024, albeit
approximately $/day 1,300 lower than previous quarter. In Q1 2024, the CABUs
benefited from a strong MR-tanker market with positive effect on the
index-linked caustic soda solution ("CSS") contracts, supported by a stronger
than expected first quarter dry bulk market and highly efficient trading. The
CABU fleet had 96% of on-hire days in combination trades in the quarter and a
record low ballast of 8%. CABU TCE earnings for Q1 were approximately $/day
2,300 above the guiding range mid-point mainly due to stronger markets.

The CLEANBU fleet started 2024 with record strong TCE earnings, driven by 75% of
capacity employed in tanker trades. TCE earnings increased approximately $/day
9,100 from Q4 2023 mainly driven by the buoyant product tanker market from
mid-December last year. CLEANBU TCE earnings for Q1 were approximately $/day
2,400 lower than the guiding range mid-point partly due to lower tanker earnings
for fixtures made towards the end of the quarter.  

Actual number of on-hire days are 35 days lower than expected in the guiding for
first quarter mainly due to longer dry dockings.  

KCC's First Quarter Report 2024 will be published on 7 May 2024.

CABU (TCE earnings per on-hire day and on-hire days)
Q1 2024 Preliminary: $/day 34,824 (680 days)
Q1 2024 Guiding range*: $/day 32,000-33,000 (703 days)
Q4 2023 Actual: $/day 36,110 (722 days)

CLEANBU (TCE earnings per on-hire day and on-hire days)
Q1 2024 Preliminary: $/day 46,593 (637 days)
Q1 2024 Guiding range*: $/day 48,000-50,000 (649 days)
Q4 2023 Actual: $/day 37,537 (721 days)

Fleet (TCE earnings per on-hire day and on-hire days)
Q1 2024 Preliminary: $/day 40,514 (1,317 days)
Q1 2024 Guiding range*: $/day 40,000-41,500 (1,352 days)
Q4 2023 Actual: $/day 36,823 (1,442 days)

*Estimate based on booked cargoes and expected employment for open capacity
basis forward freight pricing (FFA)

TCE earnings $/day are alternative performance measures (APMs) which are defined
and reconciled in the excel sheet "APM1Q2024" published on the Company's
homepage Investor Relations/Reports and Presentations under the section for the
Q1 2024 report. The address to the Company's homepage is
www.combinationcarriers.com. 

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

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