10 March 2022

Tufton Oceanic Assets Limited (The "Company")

Portfolio and Market Update

In response to potential general market concerns regarding the Russian invasion of Ukraine, the Company wishes to clarify that none of our vessels has in any way been impacted by these very sad events. The Company and Investment Manager are deeply concerned about the Ukrainian people including those working on our vessels.

All our vessels are operating in full compliance with applicable international sanctions and in accordance with their charters, all of which remain in full force and effect. All our charters give the Company the right to prohibit our vessels entering high-risk areas, which we will exercise as a matter of policy.

The Company has substantial charter coverage. As shipping tends to perform well in periods of inflation, charter-free values are up year-to-date for the Company's primary exposures of handy bulkers, handy product tankers and containerships.

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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 Investment Management Ltd. The Company has raised a total of approximately $316.5m (gross) through its Initial Public Offering on the Specialist Fund Segment of the London Stock Exchange on 20 December 2017 and subsequent capital raises.