Ocean Yield ASA: Q4 2016 Financial Report

16 Feb 2017

Oslo, 16th February 2017, Ocean Yield ASA ("Ocean Yield" or the "Company") announces results for the fourth quarter and preliminary results for the year ending 31st December 2016. FINANCIAL HIGHLIGHTS -The Board of Directors has declared a dividend of USD 0.1825 per share for Q4 2016. This is an increase of 0.50 cents per share compared with the previous quarter. On an annualized basis, the dividend equals USD 0.73 per share. Based on the closing share price as of 16th February 2017, this is a dividend yield of 9.6% p.a. This is the 13th consecutive increase in dividends since the IPO of Ocean Yield in July 2013. -EBITDA was USD 74.4 million in Q4 2016 compared with USD 56.6 million in Q4 2015. Adjusted for finance lease effects, EBITDA was USD 82.8 million in Q4 2016 compared with USD 59.7 million in Q4 2015. -Net profit before tax was USD 3.1 million in Q4 2016 compared with USD 3.8 million in Q4 2015. An impairment charge of USD 35.6 million relating to the vessel Lewek Connector has been recognized in Q4 2016. -Net profit after tax was USD 0.7 million in Q4 2016 compared with USD 28.3 million in Q4 of 2015. -Net profit after tax, adjusted for non-recurring items, currency fluctuations, mark-to-market of derivatives and changes to deferred tax, was USD 36.9 million in Q4 2016 compared with USD 27.6 million in Q4 2015. The dividend will be paid on or about 2nd March 2017 to shareholders as of 20th February 2017 registered with the Norwegian Central Securities Depository (the "VPS") as of 22nd February 2017 (the "Record Date"). The ex-dividend date will be 21st February 2017. For the full report visit : www.ocy.no/ir Company contacts: Lars Solbakken, Chief Executive Officer +47 24 13 01 90 Eirik Eide, Chief Financial Officer +47 24 13 01 91 Investor relations contact: Marius Magelie, Senior Vice President Finance & IR +47 24 13 01 82 This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.