Appointment of Group Chief Executive Officer

11 November 2020

BRAEMAR SHIPPING SERVICES PLC

("Braemar", the "Company" or the "Group")

Appointment of Group Chief Executive Officer

Braemar Shipping Services plc, a leading international provider of shipbroking, financial advisory and logistics services to the shipping and energy industries, is pleased to announce that James Gundy has been appointed as Group Chief Executive Officer with effect from 1 January 2021.

James has been the CEO of Braemar's Shipbroking Division, the Group's largest operation, since joining the Company in 2014 following the merger with ACM Shipping Group Plc ("ACM"). He has been a shipbroker for 35 years specialising in Tankers and Sale and Purchase Projects. He was the Chief Executive Officer of ACM, which was previously listed on AIM, before the merger with Braemar and has driven the growth of the merged business ever since.

James will continue to lead the Shipbroking division and remain fully operational in that role, in addition to his new role as Group Chief Executive. This appointment will facilitate the continued development of the Group's strategic direction with Shipbroking at the centre of the Group's activities.

Ron Series, who has been the interim Executive Chairman of Braemar since July 2019, will revert to the role of Non-Executive Chairman when James takes up this appointment on 1 January 2021.

There is no other information that requires disclosure pursuant to LR 9.6.13R.

Ronald Series, Executive Chairman of Braemar, commenting on the appointment said:"On behalf of the Board and all at Braemar, I am delighted to today announce the appointment of James to the position of Group Chief Executive. James has done a superb job in integrating the Braemar and ACM shipbroking businesses since the merger in 2014 and we all look forward to working closely with him as we continue to grow the Braemar business."

James Gundy, Group Chief Executive Officer designate, said:

"I am proud and excited to be appointed to lead the business and am looking forward to working with the Braemar Board as well as my Braemar colleagues. I am confident that as a global team we are well positioned to continue the success we have worked so hard to deliver in recent years."

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About Braemar Shipping Services plc

Braemar Shipping Services plc is a leading international provider of shipbroking, financial advisory and logistics services to the shipping and energy industries. Founded in 1972, Braemar employs approximately 530 people in 28 offices worldwide across its Shipbroking, Financial, Logistics and Engineering Divisions. Braemar joined the Official List of the London Stock Exchange in November 1997 and trades under the symbol BMS. For more information, including our investor presentation, visit www.braemar.com