Acquisition of Two Vessels

12 February 2018

Tufton Oceanic Assets Limited (the "Company")

$20.5m Acquisition of Two Vessels

The Board of Tufton Oceanic Assets Limited (ticker: SHIP) is pleased to announce that the Company has acquired two feeder containerships for $20.5 million. The vessels are initially chartered for 2-3 years to a major container line which is investment grade. The initial yield is in line with the targets expressed in the Company's prospectus.

These are the first investments by the Company. The Company expects to invest the net IPO proceeds within the time frame indicated at IPO.

For further information, please contact:

Tufton Oceanic Limited Tel: +44 (0) 20 7518 6700

Andrew Hampson

Paulo Almeida

Cenkos Securities plc Tel: +44 (0) 20 7397 8900

Sapna Shah

Tom Scrivens

Andrew Worne

Hudnall Capital LLP Tel: +44 (0) 20 7520 9085

Andrew Cade

About the Company

Tufton Oceanic Assets Limited intends to invests in a diversified portfolio of secondhand commercial sea-going vessels delivering strong cash flow and capital gains to investors. The Company's investment manager is Tufton Oceanic Limited. The Company was admitted to the Specialist Fund Segment of the London Stock Exchange on 20 December 2017.