Highlights;

• Continued strong LPG market.
• Earnings from shipping activities of NOK 48.8 million, up from NOK 27.1 million in fourth quarter 2014.
• Earnings from ship owning companies of NOK 59.2 million, an all-time high
• Earnings before tax of NOK 44.9 million, up from NOK 31 million in fourth quarter 2014.
• Solvang with partners took delivery of MGC Clipper Odin in November 2015; vessel is on a 5 year TC on ammonia.
• 791 days without lost time incidents (LTI), and only 4 LTI in the last 8 years.
• The Board proposes a dividend of NOK 1.0 per share, and an extraordinary dividend of NOK 1.0 per share due to the record high earnings. A total of NOK 2.0 per share.

The full 4th quarter report 2015 is enclosed.

Stavanger 29.02.2015
Solvang ASA