First Ship Lease Trust : FSL Trust joins the Getting to Zero Coalition

FSL Trust joins the Getting to Zero Coalition

Singapore, 25th June 2020 - FSL Trust Management Pte. Ltd. ("FSLTM"), as trustee-manager of First Ship Lease Trust ("FSL Trust" or the "Trust"), is pleased to announce it has joined the Getting to Zero Coalition in an effort to contribute to the decarbonisation of the shipping industry.

Launched as a partnership between the Global Maritime Forum, the Friends of Ocean Action and the World Economic Forum, the Getting to Zero Coalition is a coalition of more than 110 companies within the maritime, energy, infrastructure and finance sectors and supported by key governments and IGOs. With the ambition of reducing the emission of greenhouse gases from shipping by at least 50% by 2050 compared to 2008 emissions, the target of the Getting to Zero Coalition is to accelerate maritime shipping's decarbonisation with the development and deployment of commercially viable deep sea zero emission vessels by 2030.

Commenting on joining the Getting to Zero Coalition, Roger Woods, Chief Executive Officer, said:

"Whilst seaborne transportation already is environmentally the friendliest means of transporting large quantities of cargoes over long distances, decarbonisation is a key aspect in creating a sustainable future for the whole shipping industry. This cannot be achieved by companies working in isolation, but requires a joint effort. The Getting to Zero Coalition provides the platform for likeminded companies to work together and collaborate and we are very pleased to have joined the Coalition, underlining our commitment to reduce Greenhouse Gases and improve the environmental footprint of the Trust."

About First Ship Lease Trust

First Ship Lease Trust ("FSL Trust" or the "Trust") is a Singapore-based business trust which owns a diversified fleet of well-maintained, oceangoing vessels across different segments. The current vessel portfolio of the Trust comprises 17 vessels, including 15 containerships and tankers of different sizes on the water, and 2 tanker newbuildings under construction. Of the 15 vessels on the water, 10 vessels are chartered to international shipping companies under fixed-rate period charters. The 2 tanker newbuildings are expected to be delivered to FSL Trust in late 2020 and early 2021, respectively.

FSL Trust is listed on the Mainboard of the Singapore Exchange (SGX: D8DU; Bloomberg: FSLT SP; Reuters: FSLT.SI).

This news release may contain forward-looking statements that involve risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. Representative examples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability, competition from other companies, changes in operating expenses, trust expenses and governmental and public policy changes and the continued availability of financing in the amounts and the terms necessary to support future business. Investors are cautioned not to place undue reliance on these forward-looking statements, which are based on the current view of management on future events.

Public and Investor Relations Contact: Edward Ion / Mary Ng / Jue Hao Lai Helix PR

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