Fornebu, 11th July 2019, Ocean Yield ASA ("Ocean Yield" or the "Company")
announces results for the second quarter and first half year ending 30th June
2019.

Highlights

  · Declared dividend for Q2 2019 of USD 0.1910 per share. This is the 24th
consecutive quarterly dividend.
  · EBITDA for Q2 2019 was USD 56.8 million and EBITDA adjusted for finance
lease effects was USD 74.5 million.
  · Net profit after tax for Q2 2019 was USD 5.3 million. This includes an
increase in the provision for decommissioning expenses related to the FPSO of
USD 4.5 million. Net profit from vessels with long-term charters was USD 19.2
million and Net Profit from vessels without long-term charter was USD -13.8
million.
  · Adjusted net profit was USD 11.3 million.
  · Extension of option agreement with Aker Energy AS regarding an option for a
long-term bareboat charter of the FPSO Dhirubhai-1 for oil and gas production in
Ghana. The option period was extended until 1st September 2019. Ocean Yield is
in parallel pursuing other employment opportunities for the FPSO.
  · Acquisition of two modern Ultramax dry bulk vessels for a total
consideration of USD 42 million, net of a seller's credit, with 11-year bareboat
charters to Scorpio Bulkers Inc.
  · Acquisition of one 206,000 dwt Newcastlemax dry bulk newbuilding for a total
consideration of USD 40 million net of a seller's credit, with 15-year bareboat
charter to CMB NV.
  · Delivery of the first two vessels in a series of four newbuilding VLCCs with
15-year bareboat charter to Okeanis Eco Tankers Corp. and with five year sub
charter to Koch Shipping Pte. Ltd. Post quarter end, vessel number three has
been delivered.

Lars Solbakken, CEO of Ocean Yield, said in a comment:

"The second quarter was yet another active quarter for Ocean Yield, where we
agreed to acquire three new vessels with long-term charter to reputable
counterparties, in addition to taking delivery of two VLCCs and extending the
option agreement for the FPSO with Aker Energy. The latest dry bulk transactions
emphasises Ocean Yield's ability to provide competitive leasing transactions to
reputable counterparties. The fleet now counts 61 vessels and we intend to
continue to grow the fleet of vessels with long-term charter in order to
increase and further diversify the charter backlog".

Ocean Yield ASA Second quarter and first half year 2019
Report (https://mb.cision.com/Public/15361/2861997/abee129e7b20f5d4.pdf)
Company contact:

Eirik Eide (CFO), Tel +47 24 13 01 91

Investor Relations contact:

Marius Magelie (SVP Finance & IR), Tel +47 24 13 01 82
Company information:

Ocean Yield ASA is a ship owning company with investments in vessels on long
-term charters. The company has a significant contract backlog that offers
visibility with respect to future earnings and dividend capacity.