First quarter results 2025

Lysaker, 14^th May 2025, Ocean Yield AS (“Ocean Yield” or the “Company”) announces results for the first quarter 2025.

Highlights

• EBITDA for Q1 2025 was USD 51.4 million and Adjusted EBITDA was USD 91.6 million.
• Net profit for Q1 2025 was USD 18.3 million.
• Strong balance sheet, with an equity ratio of 31.7% and USD 201.1 million in available liquidity.
• Investment in two Suezmax vessels with long-term charters to Nordic American Tankers Ltd.
• Increased investment in France LNG Shipping, which owns 12 LNG carriers, from 34% to 45% economic interest.
• Amendment and extension of charter agreements for three Suezmax vessels on long-term charters to Nordic American Tankers Ltd.
• During the quarter and post quarter end, the Company has taken delivery of seven vessels, which all commenced long-term charters upon delivery.
• Successful tap issue of NOK 300 million in the unsecured bond OCY09 and USD 35 million tap issue in the hybrid perpetual bond OCY10.
• The EBITDA charter backlog at the end of Q1 2025 was USD 4.1 billion with an average remaining contract duration of 10.3 years.

Andreas Røde, CEO of Ocean Yield, said in a comment:

“In the first quarter of 2025, Ocean Yield maintained solid profitability while further strengthening our financial position. We continued to grow and diversify our fleet through investments in high-quality assets on long-term charters, including two Suezmax vessels, increase of the investment in France LNG Shipping and delivery of five newbuildings. With a substantial EBITDA backlog of 4.1 billion and ample liquidity, we are well-positioned to drive further growth while maintaining financial strength and stability.”

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