Braemar Shipping Regulatory News (BMS)

THIS ANNOUNCMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. PLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS ANNOUNCEMENT.

7 September 2017

BRAEMAR SHIPPING SERVICES PLC

Publication of Circular

Further to the announcement earlier today by Braemar Shipping Services plc ("Braemar") regarding the proposed acquisition of NAVES, Braemar is pleased to announce that the shareholder circular convening the general meeting and setting out further details on, and the rationale for, the Acquisition (the "Circular") has been approved by the UK Listing Authority.

A copy of the Circular (along with the Form of Proxy) will be posted to Shareholders today.

A copy of the Circular (along with the Form of Proxy) will also be submitted to the National Storage Mechanism and will shortly be available for inspection at www.morningstar.co.uk/uk/NSM. In addition, the Circular will be available for inspection during normal business hours on any weekday (Saturdays, Sundays and public holidays excepted) at the registered office of Braemar at One Strand, Trafalgar Square, London WC2N 5HR from the date of the Circular up to and including the date of the General Meeting and for the duration of the General Meeting. The Circular will also be available for viewing later today on Braemar's website (www.braemar.com).

Capitalised terms not otherwise defined in the text of this announcement have the meanings given in Braemar's announcement earlier today regarding the proposed Acquisition.

Enquiries:

This announcement contains inside information as defined under the Market Abuse Regulation (EU) No. 596/2014.

Stockdale Securities Limited ("Stockdale"), which is authorised and regulated by the FCA in the United Kingdom, is acting as sponsor to Braemar and for no-one else in connection with the Acquisition and will not be responsible to any person other than Braemar for providing the protections afforded to clients of Stockdale, nor for providing advice in relation to the Acquisition, the content of this announcement or any matter referred to in this announcement. Apart from the responsibilities and liabilities, if any, which may be imposed on Stockdale by the FSMA or the regulatory regime established thereunder, neither Stockdale nor any of its subsidiaries, branches or affiliates owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Stockdale in connection with this announcement, any statement contained herein or otherwise, nor makes any representation or warranty, express or implied, in relation to, the contents of this announcement, including its accuracy, completeness or verification or for any other statement purported to be made by Stockdale, or on behalf of Stockdale in connection with Braemar or the Acquisition. Stockdale accordingly disclaims to the fullest extent permitted by law all and any responsibility or liability to any person who is not a client of Stockdale, whether arising in tort, contract or otherwise (save as referred to above) which they might otherwise have in respect of this announcement or any such statement.

PricewaterhouseCoopers LLP ("PwC"), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting exclusively for Braemar in relation to the Acquisition and for no-one else in connection with the Acquisition or the matters referred to in this announcement and will not be responsible to any person other than Braemar for providing the protections afforded to clients of PwC, nor for providing advice in relation to the Acquisition nor to the matters referred to herein. Neither PwC nor any of its members owes, accepts or assumes any duty of care, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of PwC in connection with the matters referred to in this announcement, or otherwise.

IMPORTANT NOTICES

Distribution of this announcement by any recipient may be restricted or prohibited by law. Recipients are required to inform themselves of, and comply with, all such restrictions or prohibitions.

Persons not resident in the United Kingdom should inform themselves about and observe any applicable legal requirements. It is the responsibility of each overseas Shareholder to satisfy himself as to the full observance of the laws of the relevant jurisdiction in connection with the Acquisition, including the obtaining of any governmental, exchange control or other consents which may be required, or the compliance with other necessary formalities which are required to be observed and the payment of any issue, transfer or other taxes due in such jurisdiction.