Disclosure of large shareholding

Braemar Shipping Services Plc (“Braemar”) has on 19 May 2021 sold 9,640,621 shares in AqualisBraemar LOC ASA (“AqualisBraemar LOC” or the “Company”), representing 10.05% of the Company’s outstanding shares and voting rights, at a price of NOK 9.00 per share.

The shares were sold through a bookbuilding process managed by SpareBank 1 Markets AS as sole bookrunner.

Following the transaction, Braemar holds 0 shares in AqualisBraemar LOC.

Braemar also holds 6,523,977 performance-based warrants (the “Warrants”), as further described in the notice of and minutes from the Company’s extraordinary general meeting held on 14 December 2020. Assuming full vesting of the Warrants, Braemar will hold 6,523,977 shares and rights to shares corresponding to 6.80% of the currently registered share capital of the Company.

Gross Management AS, a company controlled by Glen Rødland, Chairman of AqualisBraemar LOC’s Board of Directors, has today acquired 100,000 shares in the Company, at a price of NOK 9.00 per share. Following the share acquisition, Rødland and his close associates will own 14,890,351 shares in the Company, corresponding to 15.52% of the outstanding shares and voting rights of the Company.

This information is subject to disclosure requirements pursuant to section 4-2 of the Norwegian Securities Trading Act.