Philly Shipyard ASA Innsendt dato: 15.04.2016 20:00 UtstederID: PHLY MeldingsID: 399356 Instrument: - Marked: XOAX Kategori: INNSIDEINFORMASJON Informasjonspliktig: Ja Lagringspliktig: Ja Vedlegg: Tittel: Philly Shipyard Delivers Third Next Generation Product Tanker to Crowley Philly Shipyard, Inc. (PSI), the sole operating subsidiary of Philly Shipyard ASA (Oslo: PHLY), today delivered the Louisiana, the third of four next generation 50,000 dwt product tankers that it is building for Corporation (Crowley). The 600-foot tanker has a carrying capacity of 14.5 million gallons of crude oil or refined products.

This delivery is the 23(rd) vessel built by PSI (formerly known as Aker Shipyard, Inc.). The next generation 50,000 dwt product tanker is based on a proven Hyundai Mipo Dockyards (HMD) design that also incorporates numerous fuel efficiency features, flexible cargo capability, and the latest regulatory requirements. The vessel has also received LNG Ready Level 1 approval from the American Bureau of Shipping (ABS).

"We are proud to deliver another Philly-born tanker, the shipyard's fifth tanker for Crowley and 23(rd) vessel in total," remarked Philly Shipyard's President and CEO Steinar Nerbovik. "On behalf of the men and women who built her, we are honored knowing that the Louisiana will be another safe and quality addition to Crowley's fleet that will serve its mariners and our nation's waterways for decades to follow."

The remaining product tanker for Crowley is currently under construction and has a planned delivery in Q3 2016. Additionally, the shipyard has started construction of four 50,000 dwt tankers to be delivered to a subsidiary of Kinder Morgan, Inc. The shipyard also has begun construction of two 3,600 TEU containerships for Matson Navigation Company, Inc.

In line with the transaction announced by PHLY on September 22, 2015, at delivery of the Louisiana, the shipyard sold its interest in the PSI-Crowley joint venture with respect to that vessel to a subsidiary of Marathon Petroleum Corporation (MPC).

For more information on Philly Shipyard transactions and projects, please visit www.phillyshipyard.com.

About Philly Shipyard: Philly Shipyard is a leading U.S. commercial shipyard constructing vessels for operation in the Jones Act market. It possesses a state-of-the-art shipbuilding facility and has earned a reputation as the preferred provider of oceangoing merchant vessels with a track record of delivering quality ships. Philly Shipyard is listed on the Oslo Stock Exchange and is majority-owned by Aker Capital II, which in turn is majority-owned by Aker ASA. Aker is a Norwegian industrial investment company that creates value through active ownership. Aker's investment portfolio is concentrated on key Norwegian industries that are international in scope: oil and gas, fisheries and biotechnology, and marine assets. Aker's industrial holdings comprise ownership interests in , Kvaerner, Det norske oljeselskap, Aker BioMarine, Ocean Yield, Havfisk and Akastor.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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1 Utskriftsdato 28.9.2021