Concordia Maritime: Year-End Report, 1 January-31 December 2021

GÖTEBORG,Sweden,Feb. 10,2022 --

Earnings affected by impairment

Total income

Q4: SEK 151.2 (165.7) million

Full year: SEK 704.8 (1,025.8) million

EBITDA

Q4: SEK 36.6 (-4.6) million

Full year: SEK -82.6 (277.8) million

Result before tax

Q4: SEK -308.2 (-86.5) million

Full year: SEK -658.2 (-65.1) million

Result per share after tax

Q4: SEK -6.45 (-1.83)

Full year: SEK -13.84 (-1.38)

Events in the fourth quarter

Agreement with lending banks on new terms and conditions for two of the Company's P-MAX vessels

Covenant waiver granted by lending banks*

Erik Lewenhaupt new CEO of Concordia Maritime

Book value of fleet vessels written down by SEK 268 million

The Board will propose a dividend of SEK 0 (0) per share to the 2022 AGM

Events after the end of the quarter

Disposal of P-MAX vessel Stena Perros

Technical design study on conversion of P-MAX vessels is launched

Stena Polaris chartered out on bareboat charter for 12 months,with options

* For further information,see page 6 in the Year-End Report.

Key figures 1 January-31 December 2021

Total income,SEK million: 704.8 (1,025.8)

EBITDA,SEK million: -82.6 (277.8)

EBITDA,USD million: -9.6 (30.2)

Operating result,SEK million: -583.5 (32.6)

Result before tax,SEK million: -658.2 (-65.1)

Result before tax,adjusted for impairment: -390.5 (-65.1)

Result after tax,SEK million: -660.4 (-66.0)

Equity ratio,%: 14 (28)

Return on equity,%: -112 (-6)

Available liquid funds,including unutilised credit facilities,SEK million: 34.9 (378.0)

Result per share after tax,SEK: -13.84 (-1.38)

Equity per share,SEK: 6.21 (16.66)

Lost-time injuries: 0 (2)

For more information,please contact:

Erik Lewenhaupt

CEO,Concordia Maritime AB

+46 704 855188

erik.lewenhaupt@concordiamaritime.com

Martin Nerfeldt

CFO,Concordia Maritime AB

+45 88 938661 or +46 704 85 50 07

martin.nerfeldt@concordiamaritime.com

This information is information that Concordia Maritime Aktiebolag (publ) is obliged to publish in accordance with the EU Market Abuse Regulation. The information was provided by the contact persons above for publication on 10 February 2022 at 13.00 CET.

Concordia Maritimeis an international shipping company founded in 1887.Our focus is on safe,sustainable and reliable transportation of refined oil products,chemicals and vegetable oils. The company's B shares were first listed on Nasdaq Stockholm in 1984.

www.concordiamaritime.com

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The following files are available for download:

https://mb.cision.com/Main/1948/3503795/1533158.pdf

Concordia Maritime AB Year-End Report 2021

https://news.cision.com/concordia-maritime/i/concordia-maritime-s-p-max-vessel-stena-polaris,c3010270

Concordia Maritime's P-MAX vessel Stena Polaris