NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, BELARUS, CANADA, HONG KONG, JAPAN, NEW ZEALAND, RUSSIA, SINGAPORE, SOUTH AFRICA, OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, DISTRIBUTION OR PUBLICATION WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR ANY OTHER MEASURES PURSUANT TO APPLICABLE LAW. PLEASE SEE "IMPORTANT INFORMATION" AT THE END OF THIS PRESS RELEASE FOR FURTHER INFORMATION.

BlueYield AB ("BlueYield" or the "Company") announces the outcome of an offering of the Company's shares in connection with the contemplated listing of the Company's shares on Nordic SME (the "Listing"). The capital raise consisted of an offering to qualified and institutional investors and persons with a minimum investment amount of 12,001 shares per investor (the "Institutional Offering"), an offering to the general public in Sweden amounting to a maximum amount of EUR 2.5 million (corresponding to approximately SEK 26.6 million) (the "Retail Offering"), and an offering (the "Vendor Offering") to Andvari Investment Research AS (the "Vendor"). The three separate offerings are jointly referred to as the "Offering". The Offering will raise proceeds to the Company of SEK 320 million before transaction costs through a new issue of 3,200,000 shares at an offering price of SEK 100 per share (the "Offering Price"). The Offering attracted strong interest from Swedish and international qualified and institutional investors as well as from retail investors in Sweden and was oversubscribed. Nordic SME has on 9 June 2025 assessed that the Company fulfils the listing requirements provided that customary conditions, including the distribution requirement, are fulfilled. A company description prepared in accordance with Nordic SME requirements will be published on or about 16 June 2025. Settlement is expected to take place on 16 June 2025. The first day of trading in the Company's shares on Nordic SME is expected to be 18 June 2025 under the ticker "SHIP".

Background and reasons
BlueYield was established for the purpose of acquiring and managing a globally diversified portfolio of shipping assets through project finance investments. As part of its initial strategic transaction, BlueYield will acquire 100 percent of the shares in BlueYield AS (the "Target") from the Vendor. The Target holds minority interests across 29 special purpose vehicles (SPVs). These SPVs, which are managed by various project finance partners, collectively own and operate a fleet of 43 vessels diversified by segment, geography, employment structure, and counterparty.

BlueYield carried out the Offering to finance the acquisition of the Target. As part of the transaction, the Vendor has committed to reinvest SEK 58 million, equivalent to approximately 18.1 percent of the Offering, by subscribing for shares in BlueYield through an in-kind contribution of a vendor note. The Vendor will therefore become the largest shareholder in the Company, aligning interests with other incoming shareholders. The Board of Directors of BlueYield has decided to apply for admission to trading of the Company's shares on Nordic SME. The first day of trading is expected to take place on or about 18 June 2025.

Shipping has historically outperformed global equity markets over the long term, underpinned by the sector's cyclical dynamics, capital discipline, and robust cash flow generation. According to Oslo Shipping Index, listed shipping companies delivered an average annual return of 32 percent over the past five years and 13 percent annually over the past 25 years. In comparison, the MSCI World Index returned 10 percent and 8 percent over the same periods, respectively.

As an asset-heavy and globally mobile industry with low correlation to broader financial markets, shipping offers investors diversification and inflation protection. Within this context, project finance shipping has delivered even stronger returns than public shipping equities, benefiting from flexible entry/exit strategies, tailored risk exposure, leaner cost structures, and enhanced governance through minority protections. According to the four leading Nordic project finance houses, investments made through project finance structures, where investors hold direct ownership in individual vessels, have delivered average annual returns of 42 percent over the past five years and 20 percent annually over the past 25 years.

BlueYield leverages the structural advantages of project finance through an active, data-driven investment strategy aimed at generating stable cash flows and capital appreciation. With a targeted annual dividend yield of 12 - 14 percent and an IRR exceeding 20 percent over a typical business cycle, BlueYield offers a unique opportunity to access the high-yielding shipping sector through a listed vehicle. The Listing marks the first important milestone in the Company's development, facilitating shareholder liquidity, enhancing transparency and governance, and supporting continued growth.

Through the Offering, BlueYield will receive SEK 320 million before transaction costs. The net proceeds from the Offering will be used to support BlueYield's continued growth and expansion, and are expected to be allocated as follows:

• Acquisition of the Target from the Vendor (approximately 84 percent of the Offering)
• General corporate purposes and working capital (approximately 9 percent of the Offering)
• Opportunistic acquisitions of minority shares in vessels that will help increase the Company's dividend capacity (approximately 7 percent of the Offering)

Jonas Kamstedt, CEO, comments:
"BlueYield brings together a team with deep operational expertise in shipping and decades of experience from hedge funds and financial markets, where diversification and downside protection are fundamental. These principles are central to our investment strategy. By applying a selective, data-driven approach to vessel investments, we aim to build a resilient portfolio with strong cash flow characteristics and attractive risk-adjusted returns over time."

Ulrika Laurin, incoming Chair of the Board, comments:
"BlueYield opens the door to a part of the shipping market that has historically been less accessible to many investors. Through a clear structure and an experienced team, we aim to offer exposure to a specialised asset category with income-generating potential. With strong alignment between management and shareholders, and a disciplined investment process at the core, BlueYield is well positioned to build long-term investor value."

The Offering
The Offering comprised of 3,200,000 newly issued shares offered by the Company. The Offering Price was SEK 100 per share.

Investors in the Offering include both Swedish and international qualified and institutional investors as well as Swedish retail investors.

Following the Offering, the Company's share capital will increase by SEK 3,200,000, from SEK 500,000 to SEK 3,700,000 and the number of shares in the Company will increase by 3,200,000, from 500,000 to 3,700,000. In connection with the Offering, the existing 500,000 shares in the Company will be redeemed. After subscription of 3,200,000 shares and redemption of the 500,000 existing shares, the Company's share capital will amount to SEK 3,200,000, divided into 3,200,000 shares.

Pre commitments
The Offering received strong support from BlueYield's leadership. The Vendor, Lars Grotmol, will reinvest SEK 58 million through an in-kind contribution, corresponding to approximately 18.1 percent of the Offering. In addition, CEO Jonas Kamstedt committed SEK 10 million, of which approximately SEK 7.5 million is allocated to shares and approximately SEK 2.5 million to warrants under the Company's long-term incentive program. Incoming board members Jonas Andreasson and Ulrika Laurin have committed SEK 3 million and SEK 1 million respectively, including both shares and warrants. In total, subscription commitments for subscription of shares in the Offering from the CEO, incoming board members and the Vendor amount to approximately SEK 68.8 million, corresponding to approximately 21.5 percent of the Offering.

Allotment
Notice of allotment is received in the form of a contract note which is expected to be sent out on 12 June 2025. Settlement is expected to take place on 16 June 2025.

Lock-up
The Vendor, the Board of Directors and the CEO, who will hold 687,000 shares in total corresponding to 21.5 percent of the outstanding number of shares in the Company, have entered into lock-up arrangements in connection with the Listing. These arrangements have been made with Pareto Securities AB and include customary exemptions. Under these arrangements, the shareholders have undertaken not to dispose of financial instruments in the Company acquired in the Offering during a certain period following the commencement of trading on Nordic SME. The lock-up period will end 18 months after the first day of trading in the Company's share on Nordic SME.

The Listing
Nordic SME has on 9 June 2025 assessed that the Company fulfils the listing requirements provided that customary conditions, including the distribution requirement, are fulfilled. A company description prepared in accordance with Nordic SME's requirements will be published on or about 16 June 2025. The first day of trading in the Company's shares on Nordic SME is expected to be 18 June 2025 under the ticker "SHIP".

For more information, contact:
Jonas Kamstedt, CEO
Phone: +46 73 055 07 56
Email: jonas@chinookmngt.com

Oskar Wigsén, IR contact
Phone: +46 70 207 74 11
Email: oskar.wigsen@paretosec.com

Advisors
Pareto Securities is Sole Manager and Bookrunner, Wigge & Partners Advokat KB and Aabø-Evensen & Co Advokatfirma AS are legal adviser to the Company, Pareto Business Management is acting as Corporate Service Advisor and Ernst & Young is acting as Auditor in connection with the Offering and the Listing.

Market maker
The Company has entered into a market making agreement with Pareto Securities AB.

About BlueYield
BlueYield AB is an investment company with a focus on acquiring, managing, and strategically divesting maritime assets. The portfolio of vessels is globally diversified, consisting of a wide range of vessels across several segments and offers a unique opportunity to access the returns of global shipping.

Important information
The release, distribution or publication of this press release may, in certain jurisdictions, be subject to restrictions. The recipients of this press release in jurisdictions where this press release has been published or distributed shall inform themselves of and follow such restrictions. The recipient of this press release is responsible for using this press release, and the information contained herein, in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer, or a solicitation of any offer, to buy or subscribe for any securities in BlueYield in any jurisdiction, neither from BlueYield nor from someone else.

This press release does not constitute or form part of an offer or solicitation to purchase or subscribe for securities in the USA. The securities referred to herein has not been registered and will not be registered according to United States Securities Act of 1933, as amended (the "Securities Act"), or with any securities regulatory authority of any state of the USA for offer or sale as part of their distribution and may not be offered or sold within the USA except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with all applicable securities laws of each state or other jurisdiction of USA. There is no intention to register any securities referred to herein in the USA or to make a public offering of the securities in the USA.

The information in this press release may not be announced, published, copied, reproduced or distributed, directly or indirectly, in whole or in part, within or to USA, Australia, Belarus, Canada, Hong Kong, Japan, New Zealand, Russia, Singapore, South Africa or in any other jurisdiction where such announcement, publication or distribution of the information would not comply with applicable laws and regulations or where such actions are subject to legal restrictions or would require additional registration or other measures than what is required under Swedish law. Actions taken in violation of this instruction may constitute a crime against applicable securities laws and regulations.

This communication and any other materials in relation to the securities described herein is intended solely for (i) persons who are physically located outside the United Kingdom, (ii) "investment professionals" as defined in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 as amended (the "FSMAOrder 2005"), (iii) "high net worth entities", "unincorporated associations" etc. covered by Article 49(2)(a)-(d) of the FSMA Order 2005, and (iv) other persons to whom an invitation or inducement to engage in investment activity may be lawfully communicated in accordance with Section 21 of the Financial Services and Markets Act 2000 as amended (the "FSMA"). All such persons referred to in (ii)-(iv) are collectively referred to as the "Relevant Persons". Persons who are not Relevant Persons may not rely on, or take any action or act based on, this communication and the information it contains. Any investment or investment action to which this communication and the information contained herein relates is only available to, and will only be available to, Relevant Persons.

This press release is not a prospectus for the purposes of Regulation (EU) 2017/1129 as amended (the "Prospectus Regulation") and has not been approved by any regulatory authority in any jurisdiction. BlueYield has not authorised any offer to the public of shares or other securities in any member state of the European Economic Area ("EEA") and no prospectus has been or will be prepared in connection with the Offering. In any member state of the EEA, this communication is only addressed to and is only directed at qualified investors ("Qualified Investors") in that member state within the meaning of the Prospectus Regulation.

This press release does not identify or suggest, or purport to identify or suggest, the risks (direct or indirect) that may be associated with an investment in new shares. Any investment decision in connection with the Offering must be made based on all publicly available information relating to BlueYield and BlueYield's shares. Such information has not been independently verified by BlueYield or Pareto Securities. Pareto Securities is acting for BlueYield in connection with the Offering and no one else. Pareto Securities will not be liable to anyone else for providing the protections afforded to Pareto Securities's clients nor for giving advice in connection with the Offering or any other matter referred to herein. The information in this press release is for background purposes only and does not purport to be full or complete. No reliance may be placed for any purpose on the information contained in this press release or its accuracy or completeness.

This press release does not constitute a recommendation for any investors' decision regarding the Offering. Each investor or prospective investor should conduct their own assessment, analysis and evaluation of the business and information described in this press release and publicly available information. The price and value of the securities can decrease as well as increase. Achieved results do not provide guidance for future results. Neither the contents of BlueYield's website nor any other website available through hyperlinks on BlueYield's website are incorporated into or form part of this press release.

Forward-looking statements
This press release contains certain forward-looking statements that reflect BlueYield's current beliefs or expectations about future events and financial and operational performance, including statements about guidance, planning, prospects and strategies. Words like "intend", "estimate", "expect", "plan", "can" and similar expressions about indications or predictions about future development or trends which are not based on historical facts constitutes forward-looking information. The forward-looking statements in this press release are based on various assumptions, in several instances based on additional assumptions. Even if BlueYield believes that the assumptions reflected in these forward-looking statements are reasonable, BlueYield cannot give any warranties that any such forward-looking statements will be materialised. Since these forward-looking statements involve both known and unknown risks and uncertainties, the actual outcome can be essentially different compared to the forward-looking information. The Company does not provide any warranty that the assumptions which constitute the basis for the forward-looking statements in this press release are correct and each reader of the press release should not without reason trust the forward-looking statements in this press release. Forward-looking statements in this press release are only valid at the time of this press release and may be amended without notice. Neither BlueYield nor anyone else undertakes any obligation to review, update or confirm or publicly announce any amendment of any forward-looking statement to reflect events that have occurred or circumstances occurring regarding the contents of this press release, unless required by law or Nordic Growth Market's rules for companies whose shares are listed on Nordic SME.

Information to distributors
Solely for the purposes of the product governance requirements contained within: (a) EU Directive 2014 /65/EU on markets in financial instruments, as amended ("MiFID II"); (b) Articles 9 and 10 of Commission Delegated Directive (EU) 2017/593 supplementing MiFID II; and (c) local implementing measures (together, the "MiFID II Product Governance Requirements"), and disclaiming all and any liability, whether arising in tort, contract or otherwise, which any "manufacturer" (for the purposes of the MiFID II Product Governance Requirements) may otherwise have with respect thereto, the shares in BlueYield have been subject to a product approval process, which has determined that such shares are: (i) compatible with an end target market of retail investors and investors who meet the criteria of professional clients and eligible counterparties, each as defined in MiFID II; and (ii) eligible for distribution through all distribution channels as are permitted by MiFID II (the "Target Market Assessment"). Notwithstanding the Target Market Assessment, Distributors should note that: the price of the shares in BlueYield may decline and investors could lose all or part of their investment; the shares in BlueYield offer no guaranteed income and no capital protection; and an investment in the shares in BlueYield is compatible only with investors who do not need a guaranteed income or capital protection, who (either alone or in conjunction with an appropriate financial or other adviser) are capable of evaluating the merits and risks of such an investment and who have sufficient resources to be able to bear any losses that may result therefrom. The Target Market Assessment is without prejudice to the requirements of any contractual, legal or regulatory selling restrictions in relation to the Offering. Furthermore, it should be noted that notwithstanding the Target Market Assessment, Pareto Securities will only procure investors who meet the criteria of professional clients and eligible counterparties.

For the avoidance of doubt, the Target Market Assessment does not constitute: (a) an assessment of suitability or appropriateness for the purposes of MiFID II; or (b) a recommendation to any investor or group of investors to invest in, or purchase, or take any other action whatsoever with respect to the shares in BlueYield.

Each distributor is responsible for undertaking its own target market assessment in respect of the shares in BlueYield and determining appropriate distribution channels.

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