Ocean Yield ASA Fourth Quarter and preliminary results 2014

25 Feb 2015

Oslo, 25th February 2015, Ocean Yield ASA ("Ocean Yield" or the "Company") announces results for the fourth quarter and preliminary results for the year ending 31st December, 2014. HIGHLIGHTS -The Board of Directors has declared a dividend of USD 0.1425 per share for Q4 2014. This is an increase of 0.50 cents per share compared with the previous quarter. On an annualized basis, the dividend equals USD 0.57 per share. Based on the closing share price as of 25th February 2015, this is a dividend yield of 9.4% p.a. -EBITDA was USD 53.9 million for the fourth quarter 2014 compared with USD 52.7 million for the fourth quarter of 2013. -Net profit after tax was USD 30.5 million for the fourth quarter 2014 compared with USD 26.5 million for the fourth quarter of 2013. -In December, Ocean Yield acquired the diving support and offshore construction vessel SBM Installer for USD 150 million in combination with a 12-year bareboat charter to the SBM Offshore Group. -In December, Ocean Yield agreed to sell the 1991 built seismic vessel Geco Triton for USD 8.2 million to Western Geco. -In December, Ocean Yield agreed with one of its banks to increase an existing loan facility with USD 50.5 million, secured against the FPSO Dhirubhai-1. The proceeds will be used for funding the equity portion of new investments and for general corporate purposes. -At the end of the fourth quarter, the charter backlog was USD 2.3 billion in revenues and USD 2.2 billion on an EBITDA basis, with an average weighted tenor of 9.5 years. The dividend will be paid on or about 12th March 2015 to shareholders as of 2nd March 2015 registered with the Norwegian Central Securities Depository (the "VPS") as of 4th March 2015 (the "Record Date"). The ex-dividend date will be 3rd March 2015. 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 This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.