Completion of Combination of Braemar Technical

BRAEMAR SHIPPING SERVICES PLC

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

21 June 2019

Completion of Combination of Braemar Technical Services (excluding Braemar Engineering) and Aqualis ASA

Braemar Shipping Services plc (LSE:BMS), a leading international provider of shipbroking, financial advisory, port and marine consulting services principally to the shipping and energy industries, is pleased to announce that, further to its announcements on 13 May and 11 June 2019, the proposed disposal of three business lines within the Braemar Technical Services division (Offshore, Adjusting and Marine) to Aqualis ASA has now completed. Further to the announcement on 13 May 2019, Braemar also announces that James Kidwell has been appointed as a director of the renamed AqualisBraemar ASA, which is listed on the Oslo Stock Exchange (OSE:AQUA).

James Kidwell, Chief Executive of Braemar said: "This is an exciting day for both Braemar and AqualisBraemar. We at Braemar can strengthen our focus on our higher margin services and, as its largest shareholder, look forward to the development of AqualisBraemar and the growth of our investment in it."

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Notes to Editors:

About Braemar Shipping Services plc

Braemar Shipping Services plc is a leading international provider of shipbroking, financial advisory, port and marine consulting services principally to the shipping and energy industries. Founded in 1972, Braemar employs approximately 530 people in 30 locations 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