Fornebu, 15[th] February 2023, Ocean Yield AS ("Ocean Yield" or the
"Company") announces results for the fourth quarter and preliminary results for
the year ending 31[st] December 2022.

Highlights

  · EBITDA for Q4 2022 was USD 51.8 million and EBITDA adjusted for finance
lease effects was USD 82.8 million.
  · Net profit for Q4 2022 was USD 21.1 million.
  · EBITDA for 2022 was USD 187.0 million and EBITDA adjusted for finance lease
effects was USD 301.9 million.
  · Net profit for 2022 was USD 91.2 million.
  · Strong balance sheet, with an equity ratio of 30.3% and USD 122 million in
cash. Post quarter end, the Company has increased several loan facilities with a
total amount of USD 55 million.
  · Active period for financing and refinancing of several loan facilities. The
bond loan OCY05 has been called, and will be settled in cash in Q1 2023.
  · Acquisition of up to ten Newcastlemax dry bulk newbuildings with 15-year
charters to CMB N.V.
  · Acquisition of one 5,500 TEU container vessel newbuilding with 7-year
charter to ZIM.
  · EBITDA charter backlog at the end of Q4 2022 of USD 3.8 billion with an
average remaining contract duration of 9.3 years.

Andreas Røde, CEO of Ocean Yield, said in a comment:
"During 2022 we continued to renew and diversify our fleet and during the fourth
quarter we committed to invest more than USD 600 million in modern future-proof
vessels, taking the total investment figure for the year to more than USD 1
billion. The significant investment in up to ten ammonia-ready Newcastlemax
newbuildings on long-term charters to CMB is a testimony to Ocean Yield's
strategy of facilitating our partners' role in the energy transition.
Further, we are pleased with the continued support from our senior financing
providers, enabling us to execute several attractive financings during the
quarter for both new transactions and refinancing debt for the existing fleet,
as we continue to optimize our balance sheet and cost of capital."

Company contacts:

Andreas Røde (CEO), Tel +47 24 13 42 45

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

Investor Relations contact:

Karl Fredrik Schjøtt-Pedersen (SVP Finance & Investor Relations), Tel +47 951 32
335

Company information:

Ocean Yield AS 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.