NAV, Dividend Declaration and Q4 2018 Update

Tufton Oceanic Assets Limited

("Tufton Oceanic Assets" or the "Company")

Net Asset Value, Dividend Declaration and Q4 2018 Update

Tufton Oceanic Assets announces that as at 31 December 2018 the unaudited net asset value ("NAV") of the ordinary share class was c.USD89.8 million and the corresponding unaudited NAV per ordinary share was USD0.9872.

Tufton Oceanic Assets announces that as at 31 December 2018 the unaudited NAV of the C share class was c.USD82.5 million and the corresponding unaudited NAV per C share was USD1.0517.

For the quarter ending 31 December 2018, the Company is pleased to announce a dividend of USD0.0175 per ordinary share and a dividend of USD0.0050 per C share. For both ordinary shareholders and C shareholders the respective dividend will be paid on 22 February 2019 to holders recorded on the register as at close of business on 8 February 2019 with an ex-dividend date of 7 February 2019.

The Company's quarterly factsheet as at 31 December 2018 will shortly be available on the Company's website in the Investor Relations section under Company Documents at www.tuftonoceanicassets.com/company-documents.

Following the deployment of the net proceeds of the Company's October 2018 C share issue and in light of the continued attractive investment environment, the board of Tufton Oceanic Assets announces that it is considering raising additional capital through an issue of shares under its placing programme. Any fundraise will be subject to market conditions and further details will be announced in due course.

For further information, please contact:

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

Andrew Hampson

Paulo Almeida

N+1 Singer Tel: +44 (0) 207 496 3030

James Maxwell, Alex Bond (Corporate Finance)

Alan Geeves, James Waterlow, Sam Greatrex (Sales)

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

Andrew Cade

About the Company

Tufton Oceanic Assets Limited invests in a diversified portfolio of secondhand commercial sea-going vessels with the objective of 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.