Oslo, 24 August 2023: Klaveness Combination Carriers ("KCC") announces another
robust quarter for Q2 2023, with EBITDA of USD 29.5 million and EBT of USD 16.4
million. The results marked a record-breaking half-year performance for KCC.

Average TCE earnings for the fleet ended at $31,955/day [1] for second quarter.
Average TCE earnings for the CABUs were particularly strong with $34,502/day
[1], boosted by high caustic soda volumes and earnings. Average CLEANBU TCE
earnings ended at $29,482/day [1], a decrease from Q1 2023 due to a weaker
market, lower capacity in tanker trades, and unpaid waiting time. 

The quarter also saw significant progress in our commitment to profitable and
cost-effective decarbonization with the contracting of three zero-emission fuel
prepared CABU newbuilds and the best quarterly carbon intensity performance in
KCC's history, says Dahm.

KCC's strategic approach to the market is paying off. With full CABU tanker
capacity booked at strong earnings and continued high CLEANBU tanker trading, Q3
results are expected to remain strong despite the weaker dry bulk and tanker
markets this summer. Earnings outlook for Q4 is as well positive with expected
seasonally stronger markets for the balance of the year, adds CEO Engebret Dahm.


CABU TCE earnings guiding [2] for Q3 2023 is $33,500-34,500/day and
$26,000-28,000/day for the CLEANBUs. 

Highlights for second quarter 2023:
o Another strong quarter with an EBT of USD 16.4 million and EBITDA of USD 29.5
million 
o Record CABU TCE earnings supported by caustic soda contract earnings
o Weaker CLEANBU TCE earnings Q-o-Q due to lower tanker exposure and unpaid
waiting time
o Shipbuilding contract for three third generation CABU vessels concluded, and
USD 50 million new equity raised to part finance the contracting 
o Release of sustainability-linked financing framework and completion of USD 190
million bank refinancing 
o The Board of Directors of KCC declares dividend of USD 0.25 per share (USD
15.1 million in total)
___________________________________________________________

[1] TCE earnings $/day are alternative performance measures (APMs) which are
defined and reconciled in the excel sheet "APM2Q2023" published on the Company's
homepage: www.combinationcarriers.com - Investor Relations - Reports and
Presentations - 2023 - Q2.
[2] Estimate based on booked cargoes and expected employment for open capacity
basis forward freight pricing (FFA).
___________________________________________________________

Invitation to presentation of Q2 2023 financial results:
In connection with the release of financial results for the second quarter of
2023, Klaveness Combination Carriers ASA ("KCC") will hold a webcast
presentation at 09:00 CEST on Thursday 24 August.
To follow the webcast live go to: www.combinationcarriers.com/investor-relations
or copy and paste the following link to your browser:
https://www.combinationcarriers.com/kcc-q2-2023-financial-results
Questions for the Q&A session can be submitted in writing through the webcast
solution during the presentation.   

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.

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