On the 12th of February 2019 Ocean Yield ASA ("Ocean Yield" or "the Company")
entered into an option agreement with Aker Energy AS ("Aker Energy") for a long
-term bareboat charter of the FPSO Dhirubhai-1. The option period expired on the
1st of May but was extended until the 30th of May 2019. Ocean Yield has today
agreed with Aker Energy to further extend the option period until 1st September
2019 against an additional compensation.

Aker Energy is currently evaluating different opportunities for the FPSO at the
Deepwater Tano Cape Three Points (DWT/CTP) block offshore Ghana. As there is
uncertainty related to a contract for Dhirubhai-1 with Aker Energy, Ocean Yield
is in parallel pursuing other employment opportunities for the FPSO. In that
respect, Ocean Yield has entered into an agreement to perform a fully paid
Engineering Study for the potential use of the unit on behalf of a non-related
independent oil company.

When reviewing future dividends of Ocean Yield, the prospects for long-term
employment of the FPSO will be taken into consideration. If no satisfactory
employment can be firmed up within the end of Q1 2020, an adjustment of the
current dividend level of USD 0.191 per share per quarter will be considered.
Based on the expected earnings from the existing portfolio of vessels with long
term charters and the company's continued growth ambitions, a quarterly dividend
of about USD 0.15 per share as from Q1 2020 is currently considered to be an
appropriate dividend level until a new employment contract is secured for the
FPSO.
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.